Aug 4, 2011
Progress Energy (NYSE:PGN) reported Q2 EPS of $0.71, ahead of consensus estimates of $0.64 per share. Revenues for the quarter fell 4.9% year-over-year to $2.26 billion, missing consensus estimates of $2.29 billion.
The company sees 2011 EPS of $3.00 to $3.12, vs. consensus estimates of $3.13 per share.
Bill Johnson, Progress Energy chairman, president and CEO said, "Favorable weather in the second quarter, coupled with continued financial discipline within the company, helped us successfully deliver on our earnings per share goal for the first half of the year. "We continue to feel the effects of a challenging economy in our service area, but we remain focused on managing the business effectively and making wise investments to meet our customers' needs today and in the future, as we prepare for our pending merger with Duke Energy."
Progress Energy has a potential upside of 1.2% based on a current price of $46.53 and an average consensus analyst price target of $47.11.
Oil & Gas Post
Promote Your Page Too
LINK
No comments:
Post a Comment