Excel Energy misses by $0.07, misses on revs; reaffirms FY19 EPS guidance (59.61)
- Reports Q2 (Jun) earnings of $0.46 per share, $0.07 worse than the S&P Capital IQ Consensus of $0.53; revenues fell 3.0% year/year to $2.58 bln vs the $2.84 bln S&P Capital IQ Consensus.
- Earnings reflect higher electric and natural gas margins primarily due to non-fuel riders and regulatory rate outcomes, more than offset by 5 cents per share of unfavorable weather, increased depreciation, interest and operating and maintenance expenses.
- Co reaffirms guidance for FY19, sees EPS of $2.55-2.65 vs. $2.62 S&P Capital IQ Consensu