- Consolidated GAAP earnings per share up — $2.68 per share vs. $1.13 per share; Record GAAP earnings of $138.0 million
Altagas 2018 Q1 results
On a U.S. GAAP basis, net income applicable to common shares for the first quarter of 2018 was $49 million ($0.28 per share)
You can see the contribution that WGL makes to ALA is significant. I would say the cut in the Dividend was greater than the losses from asset sales. On a per share basis I'd expect to see an increase.
67 cents per share estimate would be around 180 million net earnings. I compared GAAP earnings for both.
Even without converting WGL into Canadian dollars both companies had NET GAAP earnings of 187 million. Beating estimates.
If you covert WGL into Canadian dollars. You can see that just WGL beats eastimates with 185 million CND. Both the companies together last year in Canadian dollars brought in 230 million in Q1 last year. Which would be around .85 cent per share. There is a chance that they blow the eastimate out of the water. Then things will have to be re rated because yearly eastimates are around 1.00 per share for the full year.
Unless they have some kind of writedown on assets sold , I don't see how it's possible for them to have .85 cents in one quarter and be valued on making 1.00 for the full year. Something is grossly out of wack with the analyst's eastimates. Maybe they don't spend too much time on the company? Maybe they have 100 companies to follow and don't have the time. Who knows