UPDATE 1-Piedmont Natural Q3 loss widens; backs FY profit view
* Q3 loss $0.13/shr vs est loss $0.11/shr
* Rev rises 17 pct to $211.6 mln, beats Street
* Shares up 1 pct
Sept 9 (Reuters) - Piedmont Natural Gas (PNY.N) posted a wider-than-expected quarterly loss, hurt by higher commodity prices, but reaffirmed its full-year profit view.
For May-July, the company posted a loss of $9.5 million, or 13 cents a share, compared with a loss of $7.3 million, or 10 cents a share, a year earlier.
Revenue for the company, which distributes natural gas to residential, commercial and industrial utility customers, however, rose 17 percent to $211.6 million.
Analysts on average expected a loss of 11 cents per share, on revenue of $184.9 million, according to Thomson Reuters I/B/E/S.
Cost of natural gas rose 34 percent to $133.7 million.
Piedmont Natural backed its 2010 earnings outlook of $1.90-$2.00 a share. Analysts expect a profit of $1.57 per share.
The Charlotte-based company's shares, which have gained about 10 percent over the last three months, were up 1 percent at $27.64 Thursday on the New York Stock Exchange. For the alerts, please double click [ID:nASA00PW3] (Reporting by Vaishnavi Bala in Bangalore; Editing by Maju Samuel)
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