Gas utility Northwest Natural Gas Co., dba NW Natural (NWN) reported that fourth-quarter consolidated net income declined to $28.47 million or $1.04 per share from $29.01 million or $1.07 per share in the prior-year quarter.
Operating revenues for the quarter declined 8 percent to $240.28 million from $260.75 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.11 per share and revenues of $268.61 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2015, the company initiated earnings guidance to be in the range of $1.77 to $1.97 per share and adjusted earnings in the range of $2.10 to $2.30 per share. Street is currently looking for full-year 2015 earnings of $2.37 per share.
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