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El Paso Electric Q4 Profit Rises - Quick Facts

El Paso Electric Co. (EE) on Tuesday reported an increase in profit for the fourth quarter from last year on higher revenues.

For the fourth quarter of 2017, the company's 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.

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

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

Excluding the $8.8 million 2017 PUCT Final Order impact recognized in the latest quarter, retail non-fuel base revenues were relatively unchanged compared to the year-ago period. Overall, milder weather offset the impact of customer growth of 1.7 percent.

Looking ahead to fiscal 2018, El Paso forecast earnings in a range of $2.30 to $2.65 per basic share. The Street expects earnings of $2.63 per share.

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