The 10-second takeaway
For the quarter ended March 31 (Q1), AGL Resources beat expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share increased significantly.
Margins dropped across the board.
AGL Resources logged revenue of $1.71 billion. The three analysts polled by S&P Capital IQ foresaw a top line of $1.46 billion on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $1.40 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.31. The seven earnings estimates compiled by S&P Capital IQ forecast $1.29 per share. GAAP EPS of $1.31 for Q1 were 18% higher than the prior-year quarter's $1.11 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.9%, 340 basis points worse than the prior-year quarter. Operating margin was 17.5%, 190 basis points worse than the prior-year quarter. Net margin was 9.0%, 30 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $708.0 million. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $4.24 billion. The average EPS estimate is $2.62.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AGL Resources is hold, with an average price target of $40.00.
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