ITC Holdings Corp. (ITC), Wednesday provided initial outlook for fiscal 2010 earnings per share, while it reaffirmed its 2009 forecast.
For fiscal 2009, the company still expects earnings of $2.32 to $2.42 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $2.37 per share for the year. Analysts' estimates typically exclude special items.
For fiscal 2010, the company anticipates earnings of $2.52 to $2.62 per share. Street expects earnings of $2.70 per share for the year 2010.
Excluding the $0.11 per share impact on 2009 earnings per share associated with the creation of regulatory assets for start-up and development expenses for ITC Great Plains, the midpoint of the 2010 earnings per share guidance range represents an increase of about 14%, compared to the midpoint of the adjusted 2009 guidance range.
Additionally, ITC unveiled a new five year capital expenditure plan of about $3 billion. During the years 2010 to 2014, ITC anticipates investing about $2.3 billion in its base businesses, including expected transmission investments associated with generator interconnections, and about $700 million in its development projects.
The five year capital investment plan is projected to increase ITC's consolidated rate base from about $2.1 billion as of the end of 2008 to about $4.5 billion at the end of 2014.
The company noted that this increase in rate base is expected to result in compound annual growth in earnings per share of about 13% to 15% over this period.
For comments and feedback contact: editorial@rttnews.com
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.