Southern Union Company (SUG, Financial) filed Quarterly Report for the period ended 2012-06-30.
Southern Union Company has a market cap of $5.29 billion; its shares were traded at around $0 with a P/E ratio of 22.2 and P/S ratio of 2. The dividend yield of Southern Union Company stocks is 1.4%. Southern Union Company had an annual average earning growth of 19.9% over the past 10 years.
Three months ended June 30, 2012 versus three months ended June 30, 2011. The $14.7 million decrease in federal and state income tax expense was primarily due to lower pretax earnings offset by the impact of lower income tax expense of $6.7 million due to the dividend received deduction for the anticipated receipt of dividends associated with earnings from the Company's unconsolidated investment in Citrus for 2011 and higher income tax expense of $1.7 million due to non-deductible parachute payments resulting from the Merger-related employee severance expenses.
Six months ended June 30, 2012 versus six months ended June 30, 2011. The $22.4 million decrease in federal and state income tax expense was primarily due to lower pretax earnings offset by the impact of lower income tax expense of $13.4 million due to the dividend received deduction for the anticipated receipt of dividends associated with earnings from the Company's unconsolidated investment in Citrus for 2011 and higher income tax expense of $3.5 million due to non-deductible parachute payments resulting from the Merger-related employee severance expenses.
Lower gross margin of $14.5 million as the result of lower operating revenues of $131.0 million and lower cost of gas and other energy of $116.5 million primarily attributable to lower market-driven realized average natural gas and NGL prices (unadjusted for the impact of realized and unrealized commodity derivative gains and losses) of $2.20 per MMBtu and $0.91 per gallon in the 2012 period versus $4.19 per MMBtu and $1.35 per gallon in the 2011 period, respectively; and
Higher gross margin of $11.0 million, as the result of lower operating revenues of $88.9 million offset by a decrease in cost of gas and other energy of $99.9 million, primarily attributable to (i) higher throughput volumes in the 2012 period as a result of processing plant outages and producer well freeze-offs resulting from unusually cold weather in early 2011, (ii) the offsetting impact of lower market-driven realized average natural gas and NGL prices (unadjusted for the impact of realized and unrealized commodity derivative gains and losses) of $2.33 per MMBtu and $1.05 per gallon in the 2012 period versus $4.12 per MMBtu and $1.29 per gallon in the 2011 period, respectively, and (iii) the impact of an unrealized loss on commodity risk management activities of $14.4 million in the 2011 period (which was added back for purposes of calculating Segment Adjusted EBITDA in the table above);
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Southern Union Company has a market cap of $5.29 billion; its shares were traded at around $0 with a P/E ratio of 22.2 and P/S ratio of 2. The dividend yield of Southern Union Company stocks is 1.4%. Southern Union Company had an annual average earning growth of 19.9% over the past 10 years.
Highlight of Business Operations:
Three months ended June 30, 2012 versus three months ended June 30, 2011. The Company's $48.0 million decrease in Net earnings was primarily due to:Three months ended June 30, 2012 versus three months ended June 30, 2011. The $14.7 million decrease in federal and state income tax expense was primarily due to lower pretax earnings offset by the impact of lower income tax expense of $6.7 million due to the dividend received deduction for the anticipated receipt of dividends associated with earnings from the Company's unconsolidated investment in Citrus for 2011 and higher income tax expense of $1.7 million due to non-deductible parachute payments resulting from the Merger-related employee severance expenses.
Six months ended June 30, 2012 versus six months ended June 30, 2011. The $22.4 million decrease in federal and state income tax expense was primarily due to lower pretax earnings offset by the impact of lower income tax expense of $13.4 million due to the dividend received deduction for the anticipated receipt of dividends associated with earnings from the Company's unconsolidated investment in Citrus for 2011 and higher income tax expense of $3.5 million due to non-deductible parachute payments resulting from the Merger-related employee severance expenses.
Lower gross margin of $14.5 million as the result of lower operating revenues of $131.0 million and lower cost of gas and other energy of $116.5 million primarily attributable to lower market-driven realized average natural gas and NGL prices (unadjusted for the impact of realized and unrealized commodity derivative gains and losses) of $2.20 per MMBtu and $0.91 per gallon in the 2012 period versus $4.19 per MMBtu and $1.35 per gallon in the 2011 period, respectively; and
Higher gross margin of $11.0 million, as the result of lower operating revenues of $88.9 million offset by a decrease in cost of gas and other energy of $99.9 million, primarily attributable to (i) higher throughput volumes in the 2012 period as a result of processing plant outages and producer well freeze-offs resulting from unusually cold weather in early 2011, (ii) the offsetting impact of lower market-driven realized average natural gas and NGL prices (unadjusted for the impact of realized and unrealized commodity derivative gains and losses) of $2.33 per MMBtu and $1.05 per gallon in the 2012 period versus $4.12 per MMBtu and $1.29 per gallon in the 2011 period, respectively, and (iii) the impact of an unrealized loss on commodity risk management activities of $14.4 million in the 2011 period (which was added back for purposes of calculating Segment Adjusted EBITDA in the table above);
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