| TECO Energy Meets Q1 Earnings Estimates, Beats Revenues - Analyst Blog | |
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Energy utility TECO Energy Inc. TE announced first-quarter 2015 operating earnings of 28 cents per share, on par with the Zacks Consensus Estimate. Earnings were 21.7% higher than the prior-year figure. Teco Energy Inc. - Earnings Surprise | FindTheCompany TECO Energy’s GAAP earnings were 25 cents per share in the first quarter of 2015 compared with 23 cents in the year-ago quarter. The difference between GAAP and pro forma numbers was due to an impact of discontinued operation and one-time charges associated with the integration of New Mexico Gas Co.
Total Revenue
Total revenues in the first quarter were $693 million, up 19.9% from $578 million in the year-ago period. The upside was fueled by the company’s regulated business, which improved 19.8%, while its unregulated operations rose 34.8%.
Reported revenues surpassed the Zacks Consensus Estimate of $595 million by 16.4%.
Operational Update
Total expenses during the quarter increased 18.3% year over year to $693.0 million on higher input costs.
The increase in expenses notwithstanding, higher revenues led to a nearly 26.5% jump in the first-quarter operating income to $146.2 million.
Interest charges during the quarter increased to $47.9 million from $39.6 million a year ago.
The ongoing improvement in the Florida economy has helped Tampa Electric to increase its average customer count by 1.7% in the first quarter, while People Gas increased its average customer base by 1.6%. New Mexico Gas Company (NMGC) registered 0.6% growth in its average customer count.
Financial Update
Cash and cash equivalents of the company as of Mar 31, 2015, were $32.8 million compared with $25.4 million as of Dec 31, 2014.
Capital expenditure during the first quarter was $160 million, up 17.4% from $136.3 million in first quarter of 2014.
Long-term debts as of Mar 31, 2015, were $3.10 billion compared with $3.35 billion as of Dec 31, 2014. Cash flow from operating activities in the first quarter of 2015 was $147 million compared with $186.9 million in the year-ago quarter.
Guidance
TECO Energy reiterated its earnings per share guidance for 2015 in the range of $1.08 to $1.11. The forecast assumes normal weather in 2015. The company expects total retail electric sales in Tampa Electric to improve 0.3%.
Due to the seasonal nature of the local gas distribution business, the company expects NMGC sales to be dilutive to earnings in the second and third quarters of 2015.
Other Company Release
American Electric Power Co., Inc.’s AEP earnings per share of $1.28 in first-quarter 2015 beat the Zacks Consensus Estimate of $1.11 by 15.3%.
CMS Energy Corp. CMS reported first-quarter earnings of 73 cents per share, outpacing the Zacks Consensus Estimate of 66 cents by 10.6%
Entergy Corporation ETR reported first-quarter 2015 operational earnings of $1.68 per share, outpacing the Zacks Consensus Estimate of $1.30 by 29.2%.
Our View
We believe a robust Florida economy and the New Mexico Gas Co. acquisition (4 cents accretive to first-quarter results) will boost the performance of the company going forward.
Total revenues would have been better in the reported quarter but for lower electric sales from Tampa Electric to its lower-margin industrial-phosphate customers. These customers increased self-generation this quarter.
TECO Energy holds a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TECO ENERGY (TE): Free Stock Analysis Report AMER ELEC PWR (AEP): Free Stock Analysis Report CMS ENERGY (CMS): Free Stock Analysis Report ENTERGY CORP (ETR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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CMS Energy Corporation
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CODE : CMS |
ISIN : US1258961002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CMS Energy is a producing company based in United states of america. CMS Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 16.9 billions as of today (€ 15.9 billions). Its stock quote reached its lowest recent point on April 18, 2014 at US$ 0.12, and its highest recent level on April 23, 2024 at US$ 59.91. CMS Energy has 282 420 406 shares outstanding. |