Wgl Holdings first-quarter earnings decline by 14.89 percent on a YOY basis
Source: IRIS | 09 Feb, 2017, 11.31AM
Powered by IRIS XBRL Data
|
|
|
|
|
| Rating: NAN / 5 stars. |
 Comments | Post Comment |
|
Notice: Undefined variable: fileR in /me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line 17
Notice: Undefined variable: fileR in /me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line 142
 WGL Holdings, Inc(WGL) has reported 14.89 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $58.30 million, or $1.13 a share in the quarter, compared with $68.50 million, or $1.36 a share for the same period last year. Revenue during the quarter went down marginally by 0.64 percent to $609.49 million from $613.38 million in the previous year period. Gross margin for the quarter expanded 33 basis points over the previous year period to 46.12 percent. Total expenses were 82.82 percent of quarterly revenues, up from 80.84 percent for the same period last year. That has resulted in a contraction of 198 basis points in operating margin to 17.18 percent. Operating income for the quarter was $104.71 million, compared with $117.51 million in the previous year period. "On January 25, 2017, we announced our agreement to be acquired by AltaGas, Ltd. (AltaGas)," said Terry D. McCallister, Chairman and Chief Executive Officer. "Our leadership team and Board of Directors are convinced that we have found exactly the right partner in AltaGas, and we believe this combination represents a great outcome for our shareholders and an excellent opportunity to drive long-term value well into the future. Together with AltaGas, we will become stronger and a more diverse company that will open up new and exciting opportunities to provide value for all of our stakeholders. For financial year 2017, the company forecasts diluted earnings per share to be in the range of $3.40 to $3.60 on adjusted basis. Working capital remains negative
Working capital of WGL Holdings, Inc was negative $326.83 million on Dec. 31, 2016 compared with negative $262.95 million on Dec. 31, 2015. Current ratio was at 0.77 as on Dec. 31, 2016, down from 0.78 on Dec. 31, 2015. Days sales outstanding went up to 79 days for the quarter compared with 59 days for the same period last year. Debt increases substantially
WGL Holdings, Inc has witnessed an increase in total debt over the last one year. It stood at $2,069.64 million as on Dec. 31, 2016, up 38.12 percent or $571.18 million from $1,498.46 million on Dec. 31, 2015. Total debt was 31.96 percent of total assets as on Dec. 31, 2016, compared with 27.24 percent on Dec. 31, 2015. Debt to equity ratio was at 1.41 as on Dec. 31, 2016, up from 1.14 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 6.45 for the quarter from 9.21 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
|
|
|
|
|
|
|
|
|
|
