This is a story about that rare thing these days: a company with a stock price higher today than it was a year ago. Unfortunately, that may change following today’s release of third quarter earnings from Nicor (NYSE:GAS).
Nicor reported EPS of $0.03 on revenue of $440.3 million. Analysts hadbeen expecting EPS of $0.13 on revenue of $421 million. Operatingincome fell from $22.8 million in the same period last year to $9.3million for the third quarter. Net income fell from $14.5 million tojust $1.3 million.
The company attributes the sharp decline to "lower operating revenuesand higher operating costs." How did they ever figure that out?
The company affirmed its estimates for 2008 earnings of $2.20 to $2.40, which is unchanged from earlier guidance. But the mid-point there is under the consensus estimate of $2.36 and the low-end of the range is under all of the few available estimates seen.
Nicor’s share price closed at $46.21 on Friday, off 11% from its 52-week high set on September 18th.
Paul Ausick
November 3, 2008
ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored)
If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement.
Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.