Southern Union Reports Solid 3Q Earnings
Thursday, November 10, 2005
Southern Union Company reported net earnings available for common shareholders of $15.2 million ($.13 per diluted share, hereinafter referred to as "per share") for its third quarter ended September 30, 2005, compared with a net loss of $11.5 million ($.14 loss per share) for the same period in 2004.
The increase in net earnings is attributable to improved results from the company's operations in interstate transportation and storage of natural gas as well as improved performance in its natural gas distribution segment. Southern Union's transportation segment recorded earnings before interest and taxes ("EBIT") of $68.1 million for the three-month period ended September 30, 2005, compared with $38.4 million for the same period in 2004.