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AGL warns it may fall short of 2008 targets
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ATLANTA - Natural gas company AGL Resources Inc. said it may fall short of its 2008 financial target because of an inventory valuation adjustment booked in the third quarter.
The company said it expects results to "remain consistent" with its previous target range of $2.75 to $2.85 per share. However, it warned that the final figure may be up to 10 cents per share lower because of a charge in its retail energy operations unit.
Analysts expect profit of $2.80 per share, according to Thomson Reuters.
AGL shares added $1.40, or 5 percent, to close at $29.45. In the past year, the stock has ranged from $24.02 to $39.53.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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