UNS Energy Corp. (UNS) reported first-quarter net income of $11.3 million or $0.27 per share, compared to $6.5 million or $0.17 per share last year. Total operating revenues rose to $332.14 million from $315.39 million last year.
Paul Bonavia, UNS Energy's Chairman and Chief Executive Officer, said, "While our first quarter financial results benefited from cold weather, we are still managing the cost pressures associated with TEP's rate freeze. Our focus continues to be operational excellence, especially as we enter the warmer months of the year when electricity demand is at its highest."
On average, five analysts polled by Thomson Reuters expected the company to report profit of $0.22 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $322.05 million for the quarter.
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