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The Laclede Group Inc. (LG) filed Annual Report for the period ended 2011-09-30.
Laclede Group Inc. has a market cap of $910.84 million; its shares were traded at around $40.61 with a P/E ratio of 14.56 and P/S ratio of 0.57. The dividend yield of Laclede Group Inc. stocks is 3.99%. Laclede Group Inc. had an annual average earning growth of 6.1% over the past 10 years.
This is the annual revenues and earnings per share of LG over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of LG.
Highlight of Business Operations:
Laclede Group s net income for fiscal years 2011, 2010, and 2009 was $63.8 million, $54.0 million, and $64.2 million, respectively. Basic and diluted earnings per share (EPS) were $2.87 and $2.86, respectively, for fiscal year 2011 compared with basic and diluted earnings per share of $2.43 for fiscal year 2010, and $2.90 and $2.89, respectively, for fiscal year 2009.Basic and diluted earnings per share were $2.87 and $2.86, respectively for fiscal year 2011 compared with basic and diluted earnings per share of $2.43 for fiscal year 2010, and $2.90 and $2.89, respectively, for fiscal year 2009. Net economic earnings per share were $2.79 in fiscal year 2011, compared with $2.52 in fiscal year 2010, and $2.74 in fiscal year 2009. The year-to-year variations in earnings per share and net economic earnings per share were primarily due to the changes in net income and net economic earnings, respectively, in each period.
Regulated Gas Distribution net income and net economic earnings increased by $10.9 million and $10.8 million, respectively, in 2011, compared with 2010. The increase was primarily due to the following factors, quantified on a pre-tax basis:
The Non-Regulated Gas Marketing segment reported net income totaling $13.7 million for fiscal year 2010, a decrease in earnings of $17.7 million compared with fiscal year 2009. Net economic earnings decreased $12.4 million compared with fiscal year 2009. These decreases were primarily due to LER s significantly reduced margins on sales of natural gas. The reduced sales margins were driven primarily by narrower regional price differentials that prevailed in the marketplace during fiscal year 2010, as compared to the favorable market conditions that existed during fiscal year 2009. On a GAAP basis, the reduced sales margins also included the effect of after-tax net unrealized losses from certain of LER s energy-related derivative contracts, totaling $2.0 million, recognized in earnings during fiscal year 2010, compared with after-tax net unrealized gains, totaling $3.3 million, recognized during fiscal year 2009.
Net cash provided by operating activities for fiscal years 2011, 2010 and 2009 was $167.2 million, $106.9 million and $228.8 million, respectively. The improvement in net cash provided by operating activities in fiscal year 2011 (compared to fiscal year 2010) is primarily attributable to reduced cash payments for margin deposits associated with the Utility s use of natural gas derivative instruments and other variations in the timing of the collection of gas costs under the PGA Clause, as well as improved operating earnings of the Utility. These factors were partially offset by a reduction in operating cash flows at LER and higher net cash payments for income taxes. The decrease in net cash provided by operating activities in fiscal year 2010 (compared to fiscal year 2009) is primarily attributable to increased payments for natural gas storage inventories.
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