Cleco Corp. (CNL) Misses Q3 EPS by 11c

Cleco Corp. (NYSE: CNL) reported Q3 EPS of $0.92, $0.11 worse than the analyst estimate of $1.03. Revenue for the quarter came in at $345.5 million versus the consensus estimate of $381.73 million.

Cleco Corp. reaffirmed FY2015 EPS of $2.28-$2.38, versus the consensus of $2.40.

"Despite warmer weather in the third quarter, earnings year over year were much lower due to the loss of a wholesale customer late last year and the effect of a 2014 third quarter multi-year tax settlement," said Bruce Williamson, chairman, president and CEO of Cleco Corporation. "We continue to work through the Louisiana Public Service Commission's approval process with our new owner group to make Cleco's transaction even stronger for all stakeholders and to support Cleco's future outlook. We expect to close the transaction in the first quarter of 2016."

For earnings history and earnings-related data on Cleco Corp. (CNL) click here.

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