WGL Holdings Announces Five-Year Financial Objectives; Targets 7%-10% Average Annual Operating Earnings Growth
March 18 2015 - 8:00AM
Business Wire
During a presentation to financial analysts today at the New
York Stock Exchange, executives of WGL Holdings, Inc. (NYSE:WGL)
will outline strategic and operating plans which support the
company's growth in non-GAAP earnings per share of 7% to 10% for
the fiscal years 2014 through 2019. This growth will be balanced
across the company’s business segments and driven by energy
infrastructure investments that will generate predictable revenue
streams. Key drivers of the growth over the five year period
include:
- Revenue increases in the regulated
utility, driven by customer growth increasing by 1.1% to 2.4%;
- Regulatory programs in all of its
jurisdictions to accelerate pipe replacement spending up to $580
million;
- Investment of approximately $720
million for three midstream pipeline projects, including the
recently announced Mountain Valley pipeline project;
- Investments of $550 million in clean,
distributed generation projects.
Successful execution of these plans will deliver top tier
financial performance and meaningful value to the company’s
customers, communities, employees and shareholders.
The meeting will begin at 9 a.m., EDT, and will be webcast on
the company's homepage, wglholdings.com. To hear the live webcast,
click on the "Webcast" link located on the home page of the
referenced site. Presentation slides will also be posted to the
website. The webcast and related slides will be archived on
wglholdings.com through April 18.
About WGL:
WGL (NYSE-WGL), headquartered in Washington, D.C., is a leading
source for clean, efficient and diverse energy solutions. With
activities in 32 states and the District of Columbia, WGL consists
of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL
Energy delivers a full ecosystem of energy offerings including
natural gas, electricity, green power, carbon reduction,
distributed generation and energy efficiency provided by WGL Energy
Services, Inc. (formerly Washington Gas Energy Services, Inc.), WGL
Energy Systems, Inc. (formerly Washington Gas Energy Systems, Inc.)
and WGSW, Inc. WGL provides options for natural gas, electricity,
green power and energy services, including generation, storage,
transportation, distribution, supply and efficiency. Our calling as
a company is to make energy surprisingly easy for our employees,
our community and all our customers. Whether you are a homeowner or
renter, small business or multinational corporation, state and
local or federal agency, WGL is here to provide Energy Answers. Ask
Us. For more information, visit us at www.wgl.com.
WGL Holdings, Inc.News Media:Ruben Rodriguez,
202-624-6620orFinancial Community:Douglas Bonawitz,
202-624-6129
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