TECO Energy Q4 Profit Declines, Sees 2015 Earnings Below View - Quick Facts

(RTTNews) - Electric and gas utility company TECO Energy, Inc. (TE) reported fourth-quarter net income of $10.8 million or $0.04 per share, down from $42.0 million or $0.20 per share in the year-ago period.

Excluding a $14.6 million consolidated state deferred tax balance adjustment related to the pending sale of TECO Coal, and $3.0 million of costs associated with the acquisition of New Mexico Gas Co. or NMGC, adjusted earnings from continuing operations were $45.0 million or $0.19 per share, compared with $37.7 million or $0.18 per share in the year-ago period.

On average, seven analysts polled by Thomson-Reuters expected the company's earnings to be $0.21 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter rose to $695.5 million from $562.2 million in the same period last year. Analysts had a consensus revenue estimate of $612.04 million.

For fiscal 2015, TECO Energy forecasts earnings from continuing operations, excluding charges or gains, in a range between $1.08 and $1.11 per share. Street expects the company to earn $1.12 per share for the year.