WGL Holdings, Inc (WGL) has reported a 15.73 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $123.39 million, or $2.39 a share in the quarter, compared with $106.62 million, or $2.11 a share for the same period last year. Revenue during the quarter went up marginally by 0.73 percent to $841.75 million from $835.69 million in the previous year period. Gross margin for the quarter expanded 475 basis points over the previous year period to 48.17 percent. Total expenses were 76.53 percent of quarterly revenues, down from 79.13 percent for the same period last year. This has led to an improvement of 260 basis points in operating margin to 23.47 percent.
Operating income for the quarter was $197.60 million, compared with $174.41 million in the previous year period.
For fiscal year 2017, the company expects diluted earnings per share to be in the range of $3.10 to $3.30 on adjusted basis.
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