El Paso Electric Profit Increase Misses Earnings Consensus

March 2, 2018

 

El Paso Electric reported an increase in profit for the fourth quarter of 2017, while operating revenues increased to $196 million from the $188 million reported in the fourth quarter of 2016.

EPE’s 4Q 2017 net income was $6.50 million or $0.16 per share, up from $5.66 million or $0.14 per share in the year-ago period.

The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06), according to Bloomberg.

On average, analysts polled by Thomson Reuters expected the company to earn $0.21 per share. Analysts’ estimates usually exclude special items, NASDAQ said.

Operating revenues for the quarter grew to $196.15 million from $188.04 million in the prior-year period.