Nicor Revenue Climbs To $352.5 Million (GAS)

Nicor, Inc.

released its 3rd quarter financial results on Tuesday morning. Nicor, Inc reported that its 3rd quarter net income of $13.6 million, or 30 cents per share, remained unchanged from a year earlier. Revenue rose to $352.5 million, up from $325.6 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 32 cents per share, on revenue of $326.32 million. Chairman, president and chief executive officer Russ Strobel said, “Although our gas distribution operations continue to be sensitive to the weakened economy, our tight cost controls have allowed Nicor Gas to deliver year-to-date results that are modestly ahead of budget. Tropical Shipping's third quarter results were lower than we had previously estimated, as markets in the Bahamas and Caribbean remain challenging, but our marketing actions and aggressive cost management have partially offset continuing rate and volume issues. Our other energy ventures continued to perform in-line with our expectations.” Nicor, Inc. (

) closed the previous trading day at $47.21 per share. Analysts covering the company's stock give it a consensus price target of $41.67 per share. Read more