Boardwalk Pipeline net income more than doubles in 2Q on revenue gains

Boardwalk Pipeline 2Q net income more than doubles

HOUSTON — Natural gas company Boardwalk Pipeline Partners reported Monday that its net income more than doubled in the second quarter as revenue grew from expansion projects for gas transportation.

The company said in a news release it earned $54.4 million, or 28 cents per share for the quarter ending June 30. In the same period last year the company earned $20.3 million, or 12 cents per share.

The company’s revenue grew by nearly 28 percent to $256.7 million.

Analysts polled by Thomson Reuters expected earnings of 36 cents per share on revenue of $279.4 million.

The company saw higher revenue from expansion projects for gas transportation.

Shares of Boardwalk Pipeline rose 9 cents to $32.11 in afternoon trading.