Piedmont Natural Gas (PNY) Friday reported second-quarter net income of $55.8 million or $0.74 per share, compared to $50.2 million or $0.70 per share reported for the corresponding quarter in the previous year.
On average, seven analysts polled by Thomson Reuters expected the company to earn $0.73 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the latest second quarter were $399.41 million, up from $308.43 million in the comparable quarter last year, while two analysts expected revenues of $324.18 million for the quarter.
Piedmont Natural Gas reaffirms its fiscal year 2013 earnings guidance of $1.67 to $1.77 per diluted share. Analysts currently expect fiscal year 2013 earnings of $1.73 per share.
Further, the company announced the declaration of a quarterly dividend on Common Stock of $0.31 per share, payable on July 15, 2013 to holders of record at the close of business on June 24, 2013.
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