Piedmont Natural Gas Inc. Q2 Earnings Retreat 4%

(RTTNews) - Piedmont Natural Gas Inc. (PNY) released a profit for second quarter that declined compared to the same period last year.

The company said its earnings declined to $64.06 million, or $0.79 per share. This was down from $66.40 million, or $0.84 per share, in last year's second quarter.

Analysts had expected the company to earn $0.85 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 17.6% to $350.19 million. This was down from $424.92 million last year.

Piedmont Natural Gas Inc. earnings at a glance:

-Earnings (Q2): $64.06 Mln. vs. $66.40 Mln. last year. -Earnings Decline (Y-o-Y): -3.5% -EPS (Q2): $0.79 vs. $0.84 last year. -EPS Decline (Y-o-Y): -6.0% -Analysts Estimate: $0.85 -Revenue (Q2): $350.19 Mln vs. $424.92 Mln last year. -Revenue Change (Y-o-Y): -17.6%

-Guidance: Full year EPS guidance: $1.90 - $1.95