Last $37.40 USD
Change Today -0.14 / -0.37%
Volume 84.2K
EE On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

el paso electric co (EE) Key Developments

El Paso Electric Co. Presents at Goldman Sachs' Power, Utilities, MLP and Pipeline Conference, Aug-12-2014

El Paso Electric Co. Presents at Goldman Sachs' Power, Utilities, MLP and Pipeline Conference, Aug-12-2014 . Venue: Conrad Hotel, New York, New York, United States.

El Paso Electric Co. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for 2014

El Paso Electric Co. announced unaudited earnings results for the second quarter and six months ended June 30, 2014. The company reported net income of $30.1 million, or $0.75 basic and diluted earnings per share. In the second quarter of 2013, EE reported net income of $29.2 million, or $0.73 and $0.72 basic and diluted earnings per share, respectively. Operating revenues net of energy expenses was $164.001 million against $162.771 million a year ago. Income before income taxes was $44.859 million against $45.122 million a year ago. The company experienced a decline in earnings per share of $0.03 resulting from increased taxes other than income taxes, primarily due to higher property taxes. Earnings also declined by $0.03 per share during the quarter due to increased depreciation and amortization expense resulting from higher depreciable plant balances, including Rio Grande Unit 9, which began commercial operations in May 2013. Finally, earnings declined during the second quarter of 2014 by $0.02 per share resulting from decreased retail nonfuel-based revenues, primarily due to the less favorable weather conditions. For the six months ended June 30, 2014, EE reported net income of $34.7 million, or $0.86 basic and diluted earnings per share. Net income for the six months ended June 30, 2013 was $36.8 million, or $0.92 basic and diluted earnings per share. Cash flows from operations for the six months ended June 30, 2014 were $57.0 million compared to $51.4 million in the corresponding period in 2013. The primary factors affecting the increased cash flow were the funding of $17.9 million for employee pension and other post-retirement benefit plans in the first six months of 2013 compared to $6.9 million in the first six months of 2014, and a decrease in accounts receivable due to the timing of customer payments. These increases in cash flows from operations were partially offset by an increase in the under-collection of fuel revenues. Operating revenues net of energy expenses was $280.016 million against $282.785 million a year ago. Income before income taxes was $50.947 million against $56.071 million a year ago. Cash additions to utility property, plant and equipment were $105.999 million against $110.279 million a year ago. Cash additions to nuclear fuel were $17.690 million against $16.879 million a year ago. Book value per common share was $24.13 against $21.08 a year ago. Capital expenditures for additions to electric utility plant were $106 million. The company is narrowing earnings guidance for 2014 to $2.15 to $2.40 per basic share from the previous range of $2.10 to $2.50. The company expects to spend approximately $316 million for capital expenditures in 2014.

El Paso Electric Declares Regular Quarterly Cash Dividend, Payable on September 30, 2014

The Board of Directors of El Paso Electric has declared a regular quarterly cash dividend on its common stock of $0.28 per share. The dividend was declared on July 24, 2014, and is payable on September 30, 2014, to shareholders of record on September 15, 2014.

El Paso Electric Co. Promotes Eddie Gutierrez to the Position of Vice President of External and Public Affairs

El Paso Electric Co. has promoted Eddie Gutierrez to vice president of external and public affairs. Gutierrez began working for El Paso Electric in November 2013 as manager of public relations. Prior to joining El Paso Electric, he operated his own marketing and public relations firm.

El Paso Electric Co., Q2 2014 Earnings Call, Aug 06, 2014

El Paso Electric Co., Q2 2014 Earnings Call, Aug 06, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
EE:US $37.40 USD -0.14

EE Competitors

Market data is delayed at least 15 minutes.

Company Last Change
AGL Resources Inc $52.35 USD +0.02
Covanta Holding Corp $20.92 USD +0.09
Energen Corp $76.05 USD -0.60
ITC Holdings Corp $37.20 USD +0.08
Northwest Natural Gas Co $44.69 USD -0.07
View Industry Companies
 

Industry Analysis

EE

Industry Average

Valuation EE Industry Range
Price/Earnings 17.5x
Price/Sales 1.7x
Price/Book 1.6x
Price/Cash Flow 9.0x
TEV/Sales 0.4x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact EL PASO ELECTRIC CO, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.