Gas Natural Inc.
Gas Natural Inc. Reports 2016 Fourth Quarter and Full Year Results

March 17, 2017

Gas Natural Inc. (NYSE MKT: EGAS) (the "Company"), a holding company operating local natural gas utilities serving approximately 69,400 customers in four states, reported financial results for the fourth quarter and year ended December 31, 2016.  Comparative results for the fourth quarter, and for full year 2016, do not include the results of the Kentucky and Pennsylvania utilities which were divested in the fourth quarter of 2015 ("Divestitures"). 

Fourth Quarter 2016 Summary

  • Full service distribution throughput increased due to the addition of approximately 800 new customers in the quarter
  • Net income from continuing operations improved to $0.13 per share from $0.07 in 2015
  • Merger approval process with regulators is progressing as anticipated

Mr. Gregory J. Osborne, Gas Natural's President and Chief Executive Officer, commented, "We grew revenue and gross margin in the quarter as a result of growing our customer base.  This is a testament to our keen focus on operations and growth."

He added, "In December, our shareholders overwhelmingly approved our announced plan to be acquired by First Reserve.  The process to obtain approval from the regulatory authorities in Maine, Montana, North Carolina and Ohio is progressing as anticipated.  We continue to expect completion of the transaction in the second half of 2017."

Click here to read the full press release.

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Gas Natural Inc.

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