Cleco Corp. (NYSE: CNL) reported Q4 EPS of $1.17, in-line with the analyst estimate of $1.17. Revenue for the quarter came in at $0 , versus $0 reported last year.

Cleco Corp. sees FY2015 EPS of $2.28-$2.38, which may note compare to the consensus of $2.70.

“We produced solid earnings for the third quarter through our first summer season of serving our newest wholesale customer and by reaching a favorable multi-year settlement with taxing authorities, which helped to offset the impact of the customer refund associated with our new formula rate plan extension that began in July,” said Bruce Williamson, chairman, president and CEO of Cleco Corporation.
“Last week, we announced that Cleco has agreed to be acquired for $55.37 per share by a group of long-term infrastructure investors led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corporation, along with John Hancock Financial and other infrastructure investors,” said Williamson. “By partnering with this group of investors, we are able to provide a premium valuation to our public shareholders, while continuing to provide safe and reliable service to our customers. Operating as an independent, Louisiana-based company with no change to our operating locations, we expect this transition to be seamless for our customers, employees and the communities we serve.
“Following the formula rate plan extension earlier this year, we anticipate our full-year 2015 operational earnings to be in the range of $2.28 to $2.38 per diluted share,” said Williamson. “This range reflects a full year of operation under the new rate plan. Next year will be a transitional year for Cleco as we move to private ownership and plan for the next cycle of utility growth in the region.”

For earnings history and earnings-related data on Cleco Corp. (CNL) click here.