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Last $34.56 USD
Change Today +0.20 / 0.58%
Volume 188.0K
EE On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

el paso electric co (EE) Key Developments

El Paso Electric Co. - Special Call

To discuss the company's Texas rate case filing

El Paso Electric Co. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015

El Paso Electric Co. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenues net of energy expenses of $157.95 million compared to $164.00 million a year ago. Earnings before interest, taxes, depreciation and amortization were $65.64 million compared to $74.13 million a year ago. Income before income taxes was $30.58 million compared to $44.86 million a year ago. Net income was $21.07 million or $0.52 per basic and diluted share compared to $30.10 million or $0.75 per basic and diluted share a year ago. Net income during the quarter was negatively impacted by an increase in operations and maintenance expense at fossil fuel generating plants, primarily due to increased -- due to an increased level of maintenance activity at the Newman and Four Corners plants. Net income during the quarter also declined by $0.04 per share due to the recognition of the Palo Verde performance awards in June 2014, with no comparable amounts in the current period. Revenues also declined due to lower revenues from residential customers, reflecting milder weather during the quarter. For the six months, the company reported operating revenues net of energy expenses of $272.80 million compared to $280.02 million a year ago. Earnings before interest, taxes, depreciation and amortization were $100.11 million compared to $109.70 million a year ago. Income before income taxes was $35.02 million compared to $50.95 million a year ago. Net income was $24.53 million or $0.61 per basic and diluted share compared to $34.71 million or $0.86 per basic and diluted share a year ago. Net cash provided by operating activities was $60.38 million compared to $56.97 million a year ago. Cash additions to utility property, plant and equipment were $147.04 million compared to $105.999 million a year ago. The company revised earnings guidance for the year 2015. The company is adjusting its earnings guidance for 2015 to a range of $1.75 to $2.05 per basic share from the previous range of $1.75 to 2.15. Capital expenditures for 2015 are expected to be $276.3 million. The company is narrowing its range primarily to reflect the weaker levels of revenues they experienced during the quarter. At the midpoint of current guidance range for 2015, a rate of return on average common equity of 7.7% would be earned significantly below authorized ROE.

El Paso Electric Quarterly Cash Dividend, Payable on September 30, 2015

The Board of Directors of El Paso Electric declared regular quarterly cash dividend on its common stock of $0.295 per share. The dividend was declared on July 23, 2015 and is payable on September 30, 2015, to shareholders of record on September 16, 2015.

El Paso Electric Co., Q2 2015 Earnings Call, Aug 05, 2015

El Paso Electric Co., Q2 2015 Earnings Call, Aug 05, 2015

El Paso Electric Co. to Report Q2, 2015 Results on Aug 05, 2015

El Paso Electric Co. announced that they will report Q2, 2015 results at 8:30 AM, US Mountain Standard Time on Aug 05, 2015

 

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EE

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Valuation EE Industry Range
Price/Earnings 17.1x
Price/Sales 1.6x
Price/Book 1.4x
Price/Cash Flow 8.3x
TEV/Sales 0.1x
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