Piedmont Reports Financial Results for First Quarter, Including Net Income of $85.9 Million

Piedmont Natural Gas (NYSE:PNY) announced results for its first fiscal quarter ended January 31, 2013.

As quoted in the press release:

For the quarter, the Company reported net income of $85.9 million, or $1.18 per diluted share, compared to net income of $76.2 million, or $1.05 per diluted share for the same period in 2012.

Piedmont’s Chairman, President and CEO, Thomas E. Skains, said:

Customer additions throughout our three-state service area improved by 9 percent over the first quarter of last year. We continue to see positive signs of recovery and growth in our core markets.  We are also well on track to execute our 2013 capital expansion program by completing our Sutton power generation delivery project on schedule by June 2013 and making good progress on our system integrity and reliability programs.

To view the whole press release, click here. 

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