ITC Holdings Corp. (ITC) Tuesday reported a second-quarter profit of $42.4 million or $0.81 per share, down from $43 million or $0.83 per share in the same period last year.
Operating earnings were $54.8 million or $1.05 per share, compared to $43 million or $0.83 per share last year.
On average, six analysts polled by Thomson Reuters expected the company to earn $1 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues totaled $197.4 million, up from $185.1 million last year. Analysts expected revenues of $208.17 million.
Operating expenses increased to $98.9 million from $84.9 million last year.
Looking ahead to the fiscal year 2012, ITC updated its full-year earnings guidance to a range of $3.95 to $4.05 per share. This compares to the previous guidance range of $3.90 to $4.05 per share.
Analysts currently expect the company to earn $4.01 per share for 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.