TECO Energy Inc.'s (TE) fourth-quarter net income increased to $56.7 million or $0.26 per share from $53.5 million or $0.25 per share a year ago.
Net income in the fourth quarter included a net gain from the previously announced sale of the ownership interest in DECA II in Guatemala, partially offset by a debt extinguishment charge, the company added.
Fourth-quarter non-GAAP results were $48.9 million, excluding the net gain from the prior announced sale of the ownership interest in DECA II in Guatemala, and a charge related to the early retirement of TECO Energy debt. Fourth-quarter 2009 non-GAAP results, which excluded $0.4 million of restructuring charges, were $53.9 million.
On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.25 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues improved to $775.0 million from $765.0 million in the comparable period. Analysts estimated revenues of $850.49 million for the quarter
TECO Energy expects earnings per share in 2011 to be in a range between $1.25 and $1.40, excluding all charges and gains. Nineteen analysts estimate earnings per share of $1.41 for 2011.
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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.