Free Post Earnings Research Report: WGL’s Q4 Earnings Beat Estimates

LONDON, UK / ACCESSWIRE / December 29, 2017 / Active-Investors.com has just released a free earnings report on WGL Holdings, Inc. (NYSE: WGL) (”WGL”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WGL. The Company posted its financial results on November 17, 2017, for the fourth quarter fiscal 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Washington, D.C.-based Company reported a positive quarterly operating income and net income for the reported quarter. Register today and get access to over 1000 Free Research Reports by joining our site below: www.active-investors.com/registration-sg.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, WGL Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below: www.active-investors.com/registration-sg/?symbol=WGL.

Earnings Highlights and Summary

In the quarter ended September 30, 2017, WGL reported total operating revenues of $429.12 million compared to the $459.90 million recorded at the end of Q4 FY16. The Company generated utility revenues of $151.04 million in Q4 FY17, up from $131.51 million in Q4 FY16. However, non-utility revenues declined to $278.09 million in Q4 FY17 from $328.39 million in the last year’s same quarter.

The gas utility Company reported a net income applicable to common stock of $3.32 million, or $0.06 per share, in Q4 FY17 versus a net loss applicable to common stock of $8.89 million, or $0.17 loss per share, in Q4 FY16. Furthermore, the Company’s operating loss came in at $8.84 million, or $0.17 loss per share, for Q4 FY17 compared to an operating loss of $4.66 million, or $0.09 loss per share, in Q4 FY16.

Meanwhile, market analysts had forecasted an operating loss of $0.19 per share for Q4 FY17.

WGL reported a total operating revenue of $2.35 billion in FY17, which came in flat compared to total operating revenue in FY16. The Company’s net income applicable to common stock grew to $192.62 million, or $3.74 per diluted share, during FY17 from $167.59 million, or $3.31 per diluted share, in FY16. Furthermore, operating earnings came in at $160.24 million, or $3.11 per share, for FY17 which were above the $155.60 million, or $3.08 per share, recorded in FY16.

Operating Metrics

During Q4 FY17, the Company spent $14.41 million on cost of gas compared to $8.37 million in Q4 FY16. The non-utility cost of energy was $215.22 million in Q4 FY17 versus $290.99 million in the previous year’s comparable quarter. WGL’s total operating expenses were $413.28 million during Q4 FY17 compared to $465.21 million in Q4 FY16. Meanwhile, the Company reported an operating income of $15.85 million in Q4 FY17 versus an operating loss of $5.31 million in Q4 FY16. Furthermore, adjusted earnings before interest and taxes (EBIT) came in at $4.58 million for the reported quarter versus $7.99 million in Q4 FY16.

Segment Performance

During Q4 FY17, WGL’s Regulated Utility segment reported a negative adjusted EBIT of $23.6 million compared to a negative adjusted EBIT of $21.2 million in Q4 FY16.

WGL’s Retail Energy-Marketing segment’s contribution to the Company’s adjusted EBIT was $12.4 million for Q4 FY17 compared to $24.3 million in the prior year’s corresponding quarter.

The Company’s Commercial Energy Systems segment’s adjusted EBIT was $15.0 million for the reported quarter compared to $13.1 million in the year ago same period.

In Q4 FY17, WGL’s Midstream Energy Services segment reported an adjusted EBIT of $0.4 million in Q4 FY17 compared to a negative adjusted EBIT of $7.8 million in Q4 FY16.

Cash Flow and Balance Sheet

During FY17, WGL’s net cash provided by operating activities was $230.63 million, rising from $227.77 million in FY16. At the close of books for the reported quarter, WGL had $8.52 million in cash and cash equivalents compared to $5.57 million at the close of books as on September 30, 2016. Additionally, the Company reported long-term debts amounting to $1.43 billion in its books of accounts as on September 30, 2017, up from $1.44 billion as on September 30, 2016.

Dividend

In a separate press release on November 22, 2017, WGL’s Board of Directors declared a regular quarterly dividend of $0.51 per share of common stock. The quarterly dividend is payable on February 01, 2018, to shareholders of record as of January 10, 2018.

Stock Performance Snapshot

December 28, 2017 – At Thursday’s closing bell, WGL Holdings’ stock marginally climbed 0.41%, ending the trading session at $85.99.

Volume traded for the day: 87.91 thousand shares.

Stock performance in the last month – up 1.25%; previous three-month period – up 1.91%; past twelve-month period – up 12.55%; and year-to-date – up 12.73%

After yesterday’s close, WGL Holdings’ market cap was at $4.42 billion.

Price to Earnings (P/E) ratio was at 22.97.

The stock has a dividend yield of 2.37%.

The stock is part of the Utilities sector, categorized under the Gas Utilities industry. This sector was up 0.4% at the end of the session.

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