Charlotte-based Piedmont Natural Gas reported first-quarter earnings Thursday that were 14 percent higher than for the same period a year ago.
Piedmont reported net income of $97.6 million compared to last year’s $85.9 million. Earnings per share rose to $1.26 from $1.18.
Revenues of $657 million for the quarter were up 28 percent. Margin – costs compared to selling price – was $262 million, up 30 million from last year.
CEO Thomas Skains attributed the improved performance to colder than normal weather, customer growth, rate adjustments and advances in power generation markets.
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Piedmont serves 1 million customers in the Carolinas and Tennessee.