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AGL Resources Inc Lowers FY 2012 EPS Guidance-Conference Call


Thursday, 10 Jan 2013 05:50am EST 

AGL Resources Inc announced that for fiscal 2012, it expects diluted earnings per share adjusted for merger-related expenses of approximately $2.45. The Company's previously disclosed guidance range was $2.60 - $2.75 per diluted share for fiscal 2012, which assumed normal weather and volatility and no impact from hedge movements. The reduction in earnings relative to prior guidance is due to: Price movements related to the Company's natural gas transportation positions in its wholesale services segment resulted in approximately $22 million of mark-to-market accounting hedge losses during the fourth quarter of 2012. Warmer than normal weather negatively impacted the distribution operations and the retail operations segments by a combined $10 million during the fourth quarter of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $2.66 for fiscal 2012. 

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