Just Energy Group Inc. (JE - Free Report) 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.
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.
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).
Just Energy reiterated its fiscal 2017 base EBITDA guidance in the range of $171.7–$179.4 million (C$223–C$233 million).
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%.
Just Energy currently carries a Zacks Rank #2 (Buy).
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