Plus   Neg

El Paso Electric Q2 Profit Down; Cuts 2018 EPS View

El Paso Electric Co. (EE) reported that its net income for the second-quarter declined to $33.3 million or $0.82 per share from $36.1 million or $0.89 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.88 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues declined to $236.80 million from $251.84 million last year.

The company adjusted GAAP earnings guidance for 2018 to $2.25 to $2.55 per basic share from the previous range of $2.30 to $2.65 per basic share. After removing the unrealized and realized gains (losses) of $0.20 to $0.25 per share non-GAAP earnings guidance range is $2.05 to $2.30 per basic share. Analysts expect annual earnings of $2.44 per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Libra Association, formed by major financial partners of Facebook's Libra cryptocurrency project, formalized the association at the inaugural Libra Council meeting of the members at its headquarters in Geneva, Switzerland. The current 21 member organizations formally signed onto the Libra Association charter, elected the Board of Directors, and appointed the executive team. Department store chain Kohl's Corp. has unveiled its Kohl's Cares holiday collection that includes the Disney Frozen 2 and Holiday Character bundles. The company's philanthropic program, Kohl's Cares, sells children's books as well as toys and donates the entire profit to charitable initiatives nationwide. Children's Place Inc. (PLCE) said that it will relaunch the Gymboree brand in the U.S. and Canada in early 2020. The brand will be relaunched in Gymboree website, and in shop-in-shop locations in more than 200 Children's Place stores in the U.S. and Canada.
Follow RTT