Laclede Group Q2 Earnings Down From Same Period Last Year

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Laclede Group, Inc. (LC) earnings dropped nearly 50 percent for the quarter ended June 30, compared to the same period last year.

The utility company posted earnings per share decreased to 38 cents per share down from 69 cents from the year-earlier quarter.

The decline is mainly due to a one-time sale of excessive propane inventories of $6.1 million, or 27 cents per share.

The company’s stock rose 1 percent in mid-day trading to $41.21, up from Thursday’s close of $40.79


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