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 U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT