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ONEOK, Inc. (OKE) - free report >>
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Just Energy (JE) Q2 Loss Narrower than Expected, Sales Lag
Just Energy Group Inc. reported adjusted loss of 4 cents per share in the first quarter of fiscal 2017, narrower than the Zacks Consensus Estimate of a loss of 5 cents. In the prior-year quarter, the company had reported earnings of 58 cents.
Total Revenue
Just Energy reported net sales of $693.2 million (C$898.4 million) in the fiscal quarter, missing the Zacks Consensus Estimate of $729 million by 4.9%. Quarterly revenues were also down 3.7% on a year-over-year basis, primarily due to intense competition that resulted from the low commodity price environment.
JUST ENERGY GRP Price, Consensus and EPS Surprise
JUST ENERGY GRP Price, Consensus and EPS Surprise | JUST ENERGY GRP Quote
Highlights of the Release
Administrative expenses increased 18.9% from $29.0 million (C$37.6 million) to $34.4 million(C$44.7 million).
Gross margin improved 7.8% to $125.5 million (C$162.7 million) primarily on the back of cost-reduction efforts and favorable foreign currency translation.
Base EBITDA grew 6% to $31.9 million (C$41.1 million) from the year-ago tally of $29.9 million (C$38.9 million).
Guidance
Just Energy reiterated its fiscal 2017 base EBITDA guidance in the range of $171.7–$179.4 million (C$223–C$233 million).
Peer Releases
ONE Gas, Inc. (OGS - Free Report) reported second-quarter earnings of 38 cents per share, beating the Zacks Consensus Estimate of 32 cents by 18.8%.
National Fuel Gas Company’s (NFG - Free Report) second-quarter earnings of 68 cents per share beat the Zacks Consensus Estimate of 63 cents by 7.9%.
ONEOK Inc. (OKE - Free Report) reported second-quarter 2016 operating earnings of 40 cents per share, missing the Zacks Consensus Estimate of 42 cents by 4.8%.
Zacks Rank
Just Energy currently carries a Zacks Rank #2 (Buy).
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