UNS Energy Reports Higher Q3 Profit - Quick Facts

(RTTNews) - UNS Energy Corp.'s (UNS) third-quarter 2013 net income grew to $68.0 million, or $1.62 per share, from $50.7 million, or $1.21 per share in the third quarter of 2012. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $1.60 for the quarter. Analysts' estimates typically exclude one-time items.

Three-month total operating revenues were $437.04 million, up 0.7 percent, compared with $434.11 million a year earlier.

The company provided 2013 earnings guidance of $2.95 to $3.10 per share, and $3.15 to $3.45 per share for 2014. UNS Energy anticipates that 2015 earnings per share would be above 2014 levels.

UNS Energy's primary subsidiary, Tucson Electric Power Co. or TEP, reported higher net profit of $64.2 million in the 2013 third quarter of 2013, versus $44.6 million a year ago, due mainly to the non-fuel base rate increase at TEP effective on July 1, 2013, as well as a decrease in capital lease interest expense, partially offset by higher generating plant outage expenses.