WGL Holdings Q4 Results Miss Estimates; Outlook Weak

(RTTNews) - WGL Holdings, Inc. (WGL), the parent company of Washington Gas Light Co., reported a net loss for the fourth quarter of $51.6 million or $1.00 per share, compared to net income of $7.7 million or $0.15 per share for the year-ago quarter.

Excluding items, adjusted operating loss for the fourth quarter was $28.2 million or $0.55 per share, compared to an adjusted operating loss of $5.0 million or $0.10 per share in the prior year quarter.

Total operating revenues for the fourth quarter fell to $409.90 million from $419.78 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.34 per share on revenue of $437.52 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to fiscal year 2014, the company forecast earnings of $2.22 to $2.42 per share and adjusted operating earnings of $2.15 to $2.35 per share. Analysts currently expect the company to earn $2.67 per share for the fiscal year 2014.