AGL Resources Inc. Issues Q3 2011 EPS Guidance Below Analysts' Estimates; Lowers FY 2011 EPS Guidance

AGL Resources Inc. announced that its third-quarter 2011 earnings results are expected to be in the range of $(0.07) to $(0.01) per diluted share. Adjusted earnings results, which exclude the impact of costs associated with the merger with Nicor, are expected to be in the range of $(0.01) to $0.05 per diluted share. Based on these results and the outlook for the remainder of the year, the Company currently expects fiscal 2011 earnings, excluding any earnings impacts associated with the Nicor merger, to be in the range of $2.90 to $3.00 per diluted share (EPS), compared to its previously announced guidance range of $3.10 to $3.20 per diluted share. This reduction in the earnings guidance range is principally due to third quarter and expected fourth quarter performance for Sequent Energy Management, part of AGL Resources' Wholesale Services segment. According to I/B/E/S Estimates, analysts were expecting the Company to report ESP of $0.24 for the third quarter of 2011 and EPS of $3.12 for fiscal 2011.