El Paso Electric Profit Falls; Cuts Top End Of Fy EPS Guidance

(RTTNews) - El Paso Electric Co (EE) on Wednesday reported second-quarter net earnings of $21.1 million or $0.52 per share compared with $30.1 million or $0.75 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

The company said results were hurt, among other things, by increased expense at its fossil-fuel generating plants, higher amortization costs and decreased retail now-fuel base revenue.

For the full year 2015, the company now expects earnings of $1.75 to $2.05 per share from prior guidance of $1.75 to 2.15 per share. Analysts expect earnings of $2.00 per share.