July 28, 2009 / 8:59 PM / in 9 years

UPDATE 1-Questar Q2 profit falls; ups lower end of FY outlook

* Q2 EPS $0.44 vs $0.98 last year

* Q2 revenue falls 26 pct to $613.1 mln

* Sees FY EPS $2.35-$2.45 vs prior view of $2.30-$2.45

July 28 (Reuters) - Oil and gas company Questar Corp’s STR.N second-quarter profit more than halved, weighed down by a decline in realized prices, and it raised the lower end of its full-year profit outlook range.

For the quarter, net income attributable to Questar was $77.9 million, or 44 cents per share, compared with $172.6 million, or 98 cents per share, a year earlier.

Excluding items, the company earned 54 cents a share. Total revenue slumped 26 percent to $613.1 million.

Analysts on average expected Questar to earn 54 cents a share, before items, according to Reuters Estimates.

Average realized gas prices at Questar’s exploration and production operations fell 15 percent, and average realized crude oil and natural gas liquids prices fell 44 percent, said the company, which also has pipeline and processing operations.

The company now sees full-year earnings per share of $2.35 to $2.45, compared with its prior view of $2.30 to $2.45.

Shares of the company closed at $35.12 Tuesday on the New York Stock Exchange.

For the alerts, please double click [ID:nWNBB4290] (Reporting by Arup Roychoudhury in Bangalore; Editing by Deepak Kannan)

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