No Charge in TECO's Fourth-Quarter Results
Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener.
On Feb. 6, 2009, TECO Energy (TE Quote) reported that its Q4 FY08 earnings plunged 87.3%, as the year-ago quarter recorded a $149.40 million after-tax gain from the sale of Teco Transport. Net income decreased to $22.00 million or $0.10 per share from $173.90 million or $0.83 per share a year ago. Excluding one-time items, TE earned $42.30 million compared to $47.70 million in Q4 FY07. The latest quarterly consensus estimate was $0.17 per share.
Total revenue slipped 10.3% to $770.30 million from $858.30 million a year ago. Regulated electric and gas revenue fell 6.1% to $625.90 million; while unregulated revenue dropped 24.8% to $144.40 million. ...
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