El Paso Electric (EE) Misses Q1 EPS by 10c; Offers FY18 EPS Outlook

El Paso Electric (NYSE: EE) reported Q1 EPS of ($0.17), $0.10 worse than the analyst estimate of ($0.07).

Overview

For the first quarter of 2018, El Paso Electric Company reported a net loss of $7.0 million, or $0.17 basic and diluted loss per share. In the first quarter of 2017, EE reported a net loss of $4.0 million, or $0.10 basic and diluted loss per share.

2018 Earnings Guidance

We are reiterating our earnings guidance for 2018 with a range of $2.30 to $2.65 per basic share. The guidance assumes normal operations and considers significant variables that may impact earnings, such as weather, expenses, capital expenditures, nuclear decommissioning trust gains/losses and the impact of the TCJA. The mid-point of the guidance range assumes 10-year average weather (cooling and heating degree days). The guidance range includes $8 million or $0.20 per share to $10 million or $0.25 per share, after-tax, of unrealized gains (losses) on equity securities and realized gains (losses) from the sale of both equity and fixed income securities from the Palo Verde decommissioning trust funds.

GUIDANCE:

El Paso Electric sees FY2018 EPS of $2.30-$2.65, versus the consensus of $2.54.

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

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