El Paso Electric Co. (EE) Misses Q4 EPS by 9c

February 24, 2014 8:21 AM EST
El Paso Electric Co. (NYSE: EE) reported Q4 EPS of $0.03, $0.09 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $122.5 million, versus $125.9 million reported last year.

"As we have for many years, we continue to experience an increase in the number of customers served. Due to less favorable weather during our summer cooling season and lower revenues from governmental customers, however, we experienced a decline in non-fuel base revenues during both the fourth quarter of 2013 and the twelve months ended December 31, 2013, as compared to the corresponding periods in the prior year," said Tom Shockley, Chief Executive Officer. "Additionally, our revenues for the twelve months ended December 31, 2013 reflect a carryover impact of the reduction in non-fuel base rates for our Texas customers which became effective May 1, 2012. We are fortunate to be part of a vibrant and growing community and we look forward to continuing to meet the region's expanding energy needs with clean and reliable technology."

For earnings history and earnings-related data on El Paso Electric Co. (EE) click here.

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