El Paso Electric (EE) Tops Q4 EPS by 7c

El Paso Electric (NYSE: EE) reported Q4 EPS of $0.14, $0.07 better than the analyst estimate of $0.07.

"We have made significant investments to meet growth in our region and to replace aging infrastructure, some of which is almost 60 years old. This modern infrastructure will benefit our customers well into the future," said Mary Kipp, Chief Executive Officer. "We are pleased that we have started to recover and earn a return on some of those investments. Our improved overall financial results are largely due to the rate relief we received in 2016, which helped to partially mitigate regulatory lag. Including Montana Power Station Units 3 and 4 and other plant additions, we have now completed $444 million of capital projects since the end of the test year in our 2015 rate cases. As a result, we filed a new rate case in Texas on February 13, 2017 to allow us to begin to recover and earn a return on these most recent investments."

For earnings history and earnings-related data on El Paso Electric (EE) click here.

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