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Rate base growth boosts Questar Q1 earnings

Questar Corp.on April 27 reported first-quarter 2016 adjusted earnings of $87.5 million, or 50cents per share, compared to $84.6 million, or 48 cents per share, during the year-agoperiod.

The S&P Global Market Intelligence consensus estimate ofnormalized EPS for the quarter was 51 cents.

Including $9.0 million of after-tax charges related to its pendingmerger with , Questarreported first-quarter 2016 net income of $78.5 million, or 45 cents per share.

Adjusted EBITDA for the quarter was $208.1 million, comparedto $203.6 million during the corresponding period in 2015, according to the company'searnings release.

"Questar GasCo.'s strong customer growth and its ongoing infrastructure-replacementprogram support long-term earnings and rate base growth at the utility. Sustainedweak commodity prices continue to limit near-term development and growth opportunitiesat [E&P affiliate Wexpro Co.],"Questar Chairman, President and CEO RonaldJibson said in a statement.

Questar's adjusted EPS guidance range remains unchanged at $1.25to $1.35 per share.