ITC Holdings Q1 Profit Rises; Reaffirms 2014 Operating EPS Guidance

(RTTNews) - ITC Holdings Corp. (ITC) reported that its first-quarter net income increased to $69.1 million, or $0.43 per share, from $50.2 million, or $0.32 per share, for the first quarter of 2013. Operating earnings for the first quarter were $69.8 million, or $0.44 per share, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 for the quarter. Analysts' estimates typically exclude special items.

Operating revenues increased to $258.60 million from $217.30 million. Analysts expected revenue of $258.79 million for the quarter. For 2014, ITC reaffirmed its full year operating earnings per share guidance in the range of $1.83 to $1.90. Analysts expect the company to report full year profit per share of $1.88.