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El Paso Electric Co. (NYSE:EE) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
El Paso Electric Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 7.69% to $0.12 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Decreased 34.26% to $126 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: El Paso Electric Co. reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.16. It missed the average revenue estimate of $191.74 million.
Quoting Management:“We were pleased with the overall financial results for the year which included increased kWh retail sales reflecting steady customer growth in our service territory,” said Tom Shockley, Chief Executive Officer. “Our earnings for the fourth quarter of 2012 were consistent with our expectations given the Texas rate decrease, which went into effect on May 1, 2012, and the milder winter weather in our service territory.”
Key Stats (on next page)…
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