- The Company reported consolidated earnings for the third quarter of 2013 of $24.0 million, or $0.56 per share, compared to same quarter 2012 earnings of $25.5 million, or $0.60 per share. Earnings for the twelve months ended September 30, 2013 were $57.9 million, or $1.36 per share, compared to earnings of $54.7 million, or $1.30 per share, for the 2012 twelve month period.
- Cooler weather compared to the 2012 quarter offset the impact of increased Missouri electric rates, which became effective April 1, 2013. In addition, higher electric operating, depreciation and amortization expenses decreased earnings compared to last year.
- The Company expects full-year 2013 earnings results to be in the mid to upper end of its guidance range of $1.26 to $1.43 per share which was communicated in February 2013.
- According to Brad Beecher, president and CEO, “We are pleased to announce the dividend increase approved today by our Board of Directors. The increase comes as a result of improved financial metrics on both our income statement and balance sheet over the last two years. It also reflects the future earnings growth we expect to see as we continue to execute our business strategy and complete our investment in our Asbury environmental upgrade and Riverton combined cycle projects.”
The Empire District Electric Company Reports Third Quarter 2013 Earnings; Announces Quarterly Dividend Increase; Sees Earnings Per Share At Mid To Upper End Of Range
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