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Stock Market & Financial Investment News

News Breaks
January 31, 2013
16:41 EDTGAS, NIAGL Resources acquires NiSource's retail services business
AGL Resources (GAS) announced that it has acquired certain assets from NiSource (NI) retail services business, which provides warranty protection solutions and energy efficiency leasing solutions for residential and small business utility customers. AGL Resources' acquisition of these assets, including approximately 500,000 existing customer plans, will expand its footprint to offer products such as appliance repair and line protection plans to customers in Indiana, Massachusetts, Ohio, Pennsylvania, and Kentucky. AGL Resources expects the transaction to be accretive to 2013 diluted earnings per share. Proceeds from the sale of $120M, plus working capital and less customary transaction and closing costs, will be used to support NiSource's core infrastructure investment business strategy.
News For GAS;NI From The Last 14 Days
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October 23, 2014
08:36 EDTGASAGL Resources postpones Q3 earnings release
AGL Resources announced that the company is conducting a review of its historical application of accounting guidance primarily related to the timing of non-cash revenue recognition associated with its Georgia infrastructure replacement programs and expects to modify its financial statements. As a result of the additional time required to complete its review, the company is postponing its Q3 earnings release and conference call. The rescheduled date and time will be announced separately and are expected to be on or prior to the due date of the company's Form 10-Q filing for Q3. Importantly, a change in accounting treatment will not affect the company's previously-reported operating cash flows, nor is it expected to impact capital expenditure plans or dividend payments. The company's infrastructure replacement programs are expected to generate the same levels of return as previously communicated, as all amounts will be recovered in accordance with allowed recovery mechanisms. This review relates only to the timing of recognition and does not impact rates charged to customers. The company determined that, in accordance with the accounting principles that govern financial statements, it should not capitalize, nor include within current income, an equity rate of return on assets constructed as part of infrastructure replacement programs until the equity ROR is collected in rates to customers. Management currently expects a reduction to previously reported diluted EPS from continuing operations of approximately 3% for the first six months of 2014. Based on its initial analysis, management currently expects a reduction to previously reported diluted earnings per share from continuing operations of approximately 3% for the first six months of 2014. The cumulative impact on prior years is expected to be less than 1% of the company's total assets.
October 14, 2014
09:17 EDTGASTallgrass aims to pursue new natural gas pipeline development
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