ITC Holdings Corp. (ITC) said for 2009, it now expects earnings per share in the range of $2.55 to $2.60, up from the prior guidance of $2.47 to $2.52. The 2009 guidance includes $0.11 associated with the recognition of regulatory assets at ITC Great Plains as previously disclosed.
The company noted that the increase from the prior guidance is primarily due to the expectation that capital expenditures will be at the high end of the existing guidance range of $320 million to $345 million and lower non-recoverable expenses.
Analysts polled by Thomson Reuters expect the company to report earnings of $2.50 per share. Analysts' estimates typically exclude special items.
For 2010, management now expects earnings per share in the range of $2.60 to $2.70, higher than the prior guidance of $2.52 to $2.62. This is primarily driven by the impact of lower than forecasted interest expense resulting from the favorable ITC Holdings financing.
Analysts expect the company to earn $2.60 per share.
In addition, 2010 capital expenditure guidance of $405 million to $460 million is reaffirmed.
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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.