El Paso Electric Q1 Profit Down; Backs 2014 EPS View

(RTTNews) - El Paso Electric Co. (EE) said that its net income for the first quarter of 2014 was $4.6 million or $0.11 per share, down from $7.6 million or $0.19 per share in the first quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues net of energy expenses for the quarter dropped to $116.02 million from the prior year's $120.01 million.

The company reiterated its earnings guidance for 2014 within a range of $2.10 to $2.50 per basic share. Analysts project annual earnings per share of $2.33.