The 10-second takeaway
For the quarter ended June 30 (Q2), AGL Resources crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share grew significantly.
Gross margins contracted, operating margins dropped, net margins grew.
AGL Resources recorded revenue of $904.0 million. The four analysts polled by S&P Capital IQ anticipated revenue of $736.0 million on the same basis. GAAP reported sales were 32% higher than the prior-year quarter's $686.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.41. The eight earnings estimates compiled by S&P Capital IQ forecast $0.26 per share. GAAP EPS of $0.41 for Q2 were 46% higher than the prior-year quarter's $0.28 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 29.2%, 400 basis points worse than the prior-year quarter. Operating margin was 12.3%, 140 basis points worse than the prior-year quarter. Net margin was 5.4%, 40 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $682.8 million. On the bottom line, the average EPS estimate is $0.16.
Next year's average estimate for revenue is $4.39 billion. The average EPS estimate is $2.64.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AGL Resources is hold, with an average price target of $41.50.
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