El Paso Electric (NYSE: EE) reported Q3 EPS of $1.47, $0.07 worse than the analyst estimate of $1.54. Revenue for the quarter came in at $297.47 million versus the consensus estimate of $310 million.

2017 Earnings Guidance

A final order in the 2017 Texas retail rate case is expected to be issued by the PUCT in the fourth quarter of 2017. Therefore, the Company has decided to provide earnings guidance for 2017 with a range of $2.30 to $2.50 per basic share. The guidance range considers performance to date and significant variables that may impact earnings, such as weather, expenses, and capital expenditures. This range also assumes normal operations and the financial impacts of the issuance of a final order in the 2017 Texas retail rate case, including new rates relating back to consumption on or after July 18, 2017.

Overview

• For the third quarter of 2017, El Paso Electric Company (\"EE\" or the \"Company\") reported net income of $59.7 million, or $1.47 basic and diluted earnings per share. In the third quarter of 2016, EE reported net income of $74.6 million, or $1.84 basic and diluted earnings per share, including approximately $12.6 million, or $0.31 per share, from the financial impacts of the 2015 Texas rate case relating back to January 12, 2016 through June 30, 2016.

GUIDANCE:

El Paso Electric sees FY2017 EPS of $2.30-$2.50, versus the consensus of $2.56.

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