El Paso Electric (EE) Misses Q3 EPS by 5c, Revenues Beat; Boosts FY18 EPS Outlook, Remains Below Consensus

El Paso Electric (NYSE: EE) reported Q3 EPS of $1.62, $0.05 worse than the analyst estimate of $1.67. Revenue for the quarter came in at $300.27 million versus the consensus estimate of $294.38 million.

"Our earnings were higher in the third quarter of 2018 compared to the third quarter of 2017, driven primarily by continued favorable weather conditions, customer growth, federal income tax rate reduction, and market gains in our nuclear decommissioning trust fund," said Mary Kipp, President and Chief Executive Officer of El Paso Electric Company. "However, these positive drivers were partially offset by increased operating costs to meet our region\'s expanding energy needs."

GUIDANCE:

El Paso Electric sees Q4 2018 EPS of $2.20-$2.35, versus the consensus of $2.45.

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

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