Earnings roundup: Williams, Asbury Auto

Earnings roundup: Williams earnings drop, Asbury Auto profit rises on cost, inventory controls

• On 2:37 pm EDT, Thursday October 29, 2009

Among the earnings stories for Thursday, Oct. 29, from AP Financial News:

TULSA, Okla. (AP) -- Natural gas provider Williams Cos. on Thursday said its third-quarter earnings fell 8 percent, driven by a sharp decline in natural gas prices.

DULUTH, Ga. (AP) -- Automotive retailer Asbury Automotive Group Inc. said Thursday its third-quarter profit rose 35 percent, as cost controls and inventory improvements offset a drop in sales.

GREENSBURG, Pa. (AP) -- Allegheny Energy Inc., an electricity and natural gas provider, on Thursday said its third-quarter earnings dropped 14 percent on interest and hedging charges.

BIRMINGHAM, Ala. (AP) -- BioCryst Pharmaceuticals Inc. on Thursday reported a larger third-quarter loss as it stepped up testing of its experimental IV flu treatment peramivir.

NORWALK, Conn. (AP) -- Emcor Group Inc. said Thursday that restructuring charges squeezed its profit in the third quarter as contract backlog and revenue declined.

STRATHAM, N.H. (AP) -- Timberland Co. said Thursday its third-quarter profit rose an unexpected 23 percent to top analyst estimates as the company trimmed costs and demand improved for its boots and Smartwool apparel.

WILMERDING, Pa. (AP) -- Railroad equipment supplier Wabtec Corp. said Thursday its third-quarter earnings fell 18 percent as demand for new freight railcars plunged.

CINCINNATI (AP) -- Insurance company Cincinnati Financial Corp. on Thursday posted a 31 percent profit decline in its third quarter its investment gains fell sharply, but operating profit shot up as the company had to pay out fewer catastrophe claims.

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