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Last $50.90 USD
Change Today +0.35 / 0.69%
Volume 109.1K
LG On Other Exchanges
New York
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

laclede group inc/the (LG) Key Developments

Laclede Group Seeks Acquisitions

The Laclede Group, Inc. (NYSE:LG) is seeking acquisitions. Suzanne Sitherwood, Chief Executive Officer, said, "Besides acquisitions, we also strongly believe in growing the gas companies and we do from an organic perspective." Steve Rasche, Chief Financial Officer, said, "We have a great track record of growing. We continue to grow, and we take on that responsibility that on a quarter by quarter basis it's about how we perform in meeting our targets not only to identify and acquire businesses, because acquisitions are part of our growth strategy, but really how we're going to grow those organically and create a lot of value out of those companies that we add to our portfolio."

The Laclede Group, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014; Provides Earnings Guidance for the Fiscal 2015 and 2016

The Laclede Group, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported total operating revenues of $619.6 million against $468.6 million a year ago. Operating income was $87.3 million against $62.9 million a year ago. Income before income taxes was $69.5 million against $54.1 million a year ago. Net income was $47.1 million against $35.6 million a year ago. Diluted earnings per share of common stock were $1.09 against $1.09 a year ago. The net cash used in operating activities was $34.1 million compared to net cash used in operating activities of $15.7 million in the prior year. The increase in cash used is primarily due to a seasonal increase in customer billings and the timing of gas purchases and collections under the Purchased Gas Adjustment (PGA) clause in Missouri, offset in part by reductions in other working capital balances as well as higher net income, and depreciation and amortization. Capital expenditures were $60.0 million against $34.6 million a year ago. Net economic earnings increased to $45.7 million, up 26%, from $36.3 million driven by higher Gas Utility earnings stemming largely from the addition of Alabama Gas Corporation as well as improved performance by the legacy gas utilities in the segment, offset in part by a shift in the distribution of earnings between quarters due to increased concentration during the winter months in the quarter ended March 31. On a per share basis, NEE was $1.06 per share compared to $1.11 per share a year ago. The company reaffirms its long-term NEE per share growth target of 4% to 6% annually, with growth in fiscal 2015 and 2016 anticipated to be above that target range after excluding from 2014 a weather benefit of $0.17 per share. Capital expenditures for 2015 are still anticipated to be approximately $300 million on a consolidated basis, reflecting the addition of Alagasco and the continuing ramp up of pipeline replacement in Missouri.

The Laclede Group, Inc. Announces Executive Changes; Declares Quarterly Dividend, Payable on April 2, 2015

The Laclede Group, Inc. announced that Board Chairman William Nasser announced his retirement from the board and thanked his fellow directors and company leadership. At its meeting on January 29, 2015, the board of directors appointed Ed Glotzbach as the new chairman. The board declared a quarterly common stock dividend of 46 cents per share. The dividend is payable on April 2, 2015 to shareholders of record on March 11, 2015.

The Laclede Group, Inc. - Shareholder/Analyst Call

2015 annual shareholder's meeting

The Laclede Group, Inc. to Report Q1, 2015 Results on Feb 04, 2015

The Laclede Group, Inc. announced that they will report Q1, 2015 results at 9:00 AM, US Eastern Standard Time on Feb 04, 2015


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Valuation LG Industry Range
Price/Earnings 20.5x
Price/Sales 1.2x
Price/Book 1.4x
Price/Cash Flow 11.6x
TEV/Sales NM Not Meaningful

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