Company maintains 2015
earnings-per-share guidance range of $1.08 to $1.11
TECO Energy, Inc. (NYSE:TE) today reported second-quarter
results from continuing operations. Due to recent developments in
negotiations regarding the sale of TECO Coal the company is
deferring reporting results from discontinued operations at this
time, and expects to report complete second-quarter GAAP results,
including unaudited financial statements on or before Aug. 7.
Second-quarter non-GAAP results from continuing operations,
which exclude $0.4 million of costs associated with the integration
of New Mexico Gas Co. (NMGC), were $61.9 million, or $0.26 on a
per-share basis, compared with $60.3 million, or $0.28 on a per
share basis in 2014. GAAP results from continuing operations were
$61.5 million, or $0.26 per share, compared to $57.6 million, or
$0.27 per share in 2014.
Year-to-date non-GAAP results from continuing operations, which
exclude $1.0 million of costs associated with the integration of
NMGC, were $126.3 million, or $0.54 on a per-share basis, compared
with $110.8 million, or $0.51 on a per-share basis in 2014.
Year-to-date GAAP results from continuing operations were $125.3
million, or $0.53 per share, compared to $106.0 million, $0.49 per
share.
TECO Energy President and Chief Executive Officer John Ramil
said, “Our Florida operations delivered strong financial
performance this quarter and experienced customer growth of 1.8%
and 2.2% at Tampa Electric and Peoples Gas, respectively - well
above the national average. New Mexico Gas realized improving
customer growth and the positive impact of synergies from the
acquisition, and was able to deliver near break-even results in a
quarter that typically has produced moderate seasonal losses. The
strong performance this quarter, combined with our good first
quarter results allowed us to deliver 6% year-over-year growth in
earnings from continuing operations.”
Non-GAAP Results
Non-GAAP results from continuing operations in the second
quarter and year-to-date periods of 2015 and 2014 exclude costs
associated with the integration and acquisition of NMGC. Non-GAAP
results from continuing operations in the 12-months ended 2015
period exclude deferred tax balance adjustments.
The table below compares the TECO Energy net income from
continuing operations with the non-GAAP measures used in this
release. Non-GAAP results exclude charges and gains contained in
the Results Reconciliation table later in this release. See
the Non-GAAP Presentation section and Results
Reconciliation table later in this release for reconciliation
to results from continuing operations and a discussion regarding
this presentation of non-GAAP results and management’s use of this
information.
All amounts included in the non-GAAP and operating company
discussions below are after tax, unless otherwise noted.
Results Comparisons 3 months
ended June 30
6 months
ended June 30
12 months
ended June 30
(millions)
2015 2014
2015 2014
2015 2014 Net income from
continuing operations 61.5 57.6 125.3 106.0 225.7 205.7 Exclude
charges 0.4 2.7 1.0 4.8 19.5 9.2
Non-GAAP Results
from continuing operations
$ 61.9
$ 60.3
$126.3
$110.8
$245.2
$214.9
Segment Reporting
The table below includes TECO Energy segment information on a
GAAP basis, which includes all charges and gains for the periods
shown.
Segment
Information
3 months
ended June 30
6 months
ended June 30
12 months
ended June. 30
(millions)
Net Income from continuing
operations 2015
2014 2015
2014 2015
2014 Tampa Electric $67.7 $62.2 $115.9
$107.4 $233.1 $215.9 Peoples Gas 7.6 7.5 22.2 22.1
35.8 35.1 NMGC (1) (0.1) -- 13.8 -- 24.3 -- Other – net (13.7)
(12.1) (26.6) (23.5) (67.5)
(45.3) Net income from continuing operations 61.5 57.6
125.3 106.0 225.7 205.7
(1) The 12-months ended 2015 period reflect results after the
Sept. 2, 2014 closing of the acquisition.
Tampa Electric
Tampa Electric’s net income for the second quarter of 2015 was
$67.7 million, compared with $62.2 million for the same period in
2014. Results for the quarter reflected a 1.8% higher average
number of customers and higher energy sales primarily due to hotter
spring weather. Results reflected higher operations and maintenance
and depreciation expenses. Second-quarter net income in 2015
included $3.6 million of Allowance for Funds Used During
Construction (AFUDC) equity, which represents allowed equity cost
capitalized to construction costs, compared with $2.1 million in
the 2014 quarter.
Total degree days in Tampa Electric's service area in the second
quarter of 2015 were 15% above normal, and 22% above the 2014
period, driven by very warm weather in April, which is
traditionally a shoulder month for energy sales. Total net energy
for load, which is a calendar measurement of retail energy sales
rather than a billing-cycle measurement, increased 6.6% in the
second quarter of 2015 compared with the same period in 2014. In
the 2015 period, pretax base revenues were almost $17 million
higher than in 2014, driven by weather, customer growth and almost
$2 million of higher pretax base revenue from the $7.5 million of
higher base rates effective Nov. 1, 2014 as a result of the 2013
rate case settlement. (The quarterly energy sales shown on the
statistical summary that accompanies this earnings release reflect
the energy sales based on the timing of billing cycles, which can
vary period to period.) Sales to residential customers increased
primarily from weather and customer growth. Sales to commercial and
non-phosphate industrial customers increased due to hotter weather
and the strength of the Tampa area economy. Sales to lower-margin
industrial-phosphate customers decreased as self-generation by
those customers increased.
Operations and maintenance expense, excluding all Florida Public
Service Commission (FPSC)-approved cost-recovery clauses, was $5.0
million higher than in the 2014 quarter, reflecting $2.2 million of
higher cost to operate and maintain the generating system and $1.6
million of higher employee-related costs, including short-term
incentive accruals for all employees. Depreciation and amortization
expense increased $1.4 million in 2015, as a result of normal
additions to facilities to reliably serve customers.
Year-to-date net income was $115.9 million, compared with $107.4
million in the 2014 period, driven by 1.7% higher average number of
customers, higher energy sales from customer growth, more favorable
weather and a stronger economy, partially offset by higher
operations and maintenance expenses and depreciation expense.
Year-to-date net income in 2015 included $7.4 million of AFUDC
equity, compared with $4.4 million in the 2014 period.
Year-to-date total degree days in Tampa Electric's service area
were 12% above normal, and 18% above the prior year-to-date period.
Pretax base revenue was almost $20 million higher than in 2014,
including approximately $3 million of higher pretax base revenue as
a result of the Nov. 1, 2014 base rate increase. In the 2015
year-to-date period, total net energy for load was 4.2% higher than
the same period in 2014. Higher energy sales were driven by the
same factors as the quarterly sales, and winter weather that was
colder than in 2014.
Operations and maintenance expenses, excluding all FPSC-approved
cost-recovery clauses, increased $4.9 million in the 2015
year-to-date period reflecting the same factors as in the second
quarter. Compared to the 2014 year-to-date period, depreciation and
amortization expense increased $1.9 million, reflecting additions
to facilities to serve customers. Interest expense increased $1.1
million due to higher long-term debt balances.
Peoples Gas
Peoples Gas reported net income of $7.6 million for the second
quarter, essentially unchanged from the 2014 quarter. Average
customer growth was 2.2% in the quarter, and therm sales to
residential customers decreased as a result of much warmer than
normal spring weather. Second-quarter results in 2015 reflected
slightly lower non-fuel operations and maintenance expense driven
by the timing of certain activities, partially offset by higher
employee-related costs including short-term incentive accruals for
all employees. Depreciation and amortization increased slightly due
to normal additions to facilities to serve customers. Sales to
power-generation customers and off-system sales increased due to
coal-to-gas switching by customers and new gas-fired generation in
the state.
Peoples Gas reported net income of $22.2 million for the
year-to-date period, essentially unchanged from the same period in
2014. Results reflect a 2.1% higher average number of customers,
and lower therm sales to residential customers due to warmer than
normal spring weather. Commercial therm sales increased due to
strong Florida economic conditions. Sales to power generation
customers and off-system sales increased due to the same reasons as
in the second quarter. Non-fuel operations and maintenance expense
increased $0.5 million compared to the 2014 period, when operations
and maintenance expense reflected a first quarter recovery of $1.6
million of costs incurred in connection with a 2010 outage
incident.
NMGC
NMGC reported a second quarter loss of $0.1 million, which was
less than historical second quarter loss patterns, reflecting the
benefit of 0.7% customer growth and lower operating and maintenance
expenses from acquisition synergies.
NMGC reported year-to-date 2015 net income of $13.8 million.
Results reflect customer growth of 0.6%, much milder than normal
winter weather in the first quarter, and degree days 5.4% below
normal and 0.8% below 2014. Results include $0.7 million of rate
credits to customers under the acquisition approval agreement with
the New Mexico Public Regulation Commission.
Other - net
The second quarter 2015 non-GAAP cost from continuing operations
for Other – net of $13.3 million excluded $0.4 million of costs
associated with the integration of NMGC, compared with the non-GAAP
cost of $9.4 million in 2014, which excluded $2.7 million of NMGC
acquisition-related costs. Results in 2015 reflect $1.1 million of
interest expense at NMGI, and a $2.6 million tax expense related to
long-term incentive compensation shares that vested below target
levels. Results also reflect $1.0 million of interest expense
previously allocated to TECO Coal, which was more than offset by
lower interest expense as a result of refinancing debt maturities
in May. The cost from continuing operations for Other – net in the
second quarter of 2015 was $13.7 million, compared with a cost of
$12.1 million in the same period in 2014.
The 2015 year-to-date non-GAAP cost from continuing operations
for Other – net was $25.6 million, which excluded $1.0 million of
NMGC integration-related costs, compared with $18.8 million in
2014, which excluded $4.7 million of NMGC acquisition-related
costs. Cost drivers in the 2015 year-to-date period included $2.2
million of interest at NMGI, $1.0 million of interest previously
allocated to TECO Coal that was not offset by lower interest
expense, and the second quarter tax expense related to long-term
incentive shares discussed above. The 2015 year-to-date Other – net
cost from continuing operations was $26.6 million, compared with
$23.5 million in the 2014 period.
Maintaining 2015 Guidance from
Continuing Operations
TECO Energy expects to deliver consolidated earnings from
continuing operations in a range between $1.08 and $1.11 in 2015,
excluding any non-GAAP charges or gains. TECO Energy expects
earnings in 2015 to be driven by the factors discussed in previous
filings with the SEC.
Non-GAAP Presentation
Management believes it is helpful to present a non-GAAP measure
of performance that reflects the ongoing operations of TECO
Energy’s businesses and that allows investors to better understand
and evaluate the business as it is expected to operate in future
periods.
Management and the board of directors use non-GAAP measures as a
tool for measuring the company’s performance, for making decisions
that are dependent upon the profitability of the company’s various
operating units, and for determining levels of incentive
compensation.
The non-GAAP measures of financial performance used by the
company are not measures of performance under accounting principles
generally accepted in the United States and should not be
considered an alternative to GAAP measures as an indicator of the
company’s financial performance or liquidity. TECO Energy’s
non-GAAP presentation of results from continuing operations may not
be comparable to similarly titled measures used by other
companies.
The Results Reconciliation table below presents non-GAAP
financial results after eliminating the effects of identified
charges and gains. This provides investors additional information
to assess the company’s results and future earnings potential.
Results
Reconciliation
3 months ended 6 months ended
12 months ended (millions) June 30
June 30 June 30 2015
2014 2015
2014 2015
2014 Net income from continuing
operations
61.5
57.6
125.3
106.0
225.7
205.7
Add consolidated deferred tax balance adjustments (net)
--
--
--
--
6.7
--
Add costs associated with the acquisition and integration of NMGC
0.4
2.7
1.0
4.8
12.8
9.2
Non-GAAP results (1) $61.9 $60.3 $126.3 $110.8
$245.2 $214.9
(1) A non-GAAP financial measure is a numerical measure that
includes or excludes amounts, or is subject to adjustments that
have the effect of including or excluding amounts, from the most
directly comparable GAAP measure.
Webcast
As previously announced, TECO Energy will host a webcast with
the investment community to discuss its quarterly results and
outlook for the remainder of 2015 at 9:00 a.m. Eastern time today.
The webcast will be accessible through a link on TECO Energy’s
website: www.tecoenergy.com. The webcast and accompanying slides
will be available for replay for 30 days through the website,
beginning approximately two hours after the conclusion of the live
event.
TECO Energy Inc. (NYSE: TE) is an energy-related holding company
with regulated electric and gas utilities in Florida and New
Mexico. Tampa Electric serves more than 700,000 customers in West
Central Florida; Peoples Gas System serves more than 350,000
customers across Florida; and New Mexico Gas Co. serves more than
510,000 customers across New Mexico. Other TECO Energy subsidiaries
include TECO Coal, which owns and operates coal-production
facilities in Kentucky, Tennessee and Virginia.
Note: This press release contains forward-looking statements,
which are subject to the inherent uncertainties in predicting
future results and conditions. Actual results may differ materially
from those forecasted. The forecasted results are based on the
company's current expectations and assumptions, and the company
does not undertake to update that information or any other
information contained in this press release, except as may be
required by law. Factors that could impact actual results include:
regulatory actions by federal, state or local authorities; the
ability to successfully implement the integration plans for NMGC
and generate the financial results to make the acquisition
accretive; unexpected capital needs or unanticipated reductions in
cash flow that affect liquidity; the ability to access the capital
and credit markets when required; general economic conditions
affecting customer growth and energy sales at the utility
companies; economic conditions affecting the Florida and New Mexico
economies; weather variations and customer energy usage patterns
affecting sales and operating costs at the utilities and the effect
of weather conditions on energy consumption; the effect of extreme
weather conditions or hurricanes; general operating conditions;
input commodity prices affecting cost at all of the operating
companies; natural gas demand at the utilities; and the ability of
TECO Energy's subsidiaries to operate equipment without undue
accidents, breakdowns or failures; and the ability of TECO Energy
to successfully close the sale of TECO Coal on the anticipated
terms, or otherwise exit the coal business. Additional information
is contained under "Risk Factors" in TECO Energy, Inc.'s Annual
Report on Form 10-K for the period ended Dec. 31, 2014.
-30-
TAMPA ELECTRIC COMPANY ELECTRIC OPERATING STATISTICS
(Unaudited)
Operating
Revenues* Sales --
Kilowatt-hours*
Three Months Ended Jun.
30, Percent
Percent 2015 2014
Change 2015
2014
Change
Residential
$ 267,416 $ 243,437
9.9 2,330,622
2,089,150
11.6 Commercial
154,867 150,180
3.1
1,609,933 1,529,248
5.3 Industrial -- Phosphate
13,829 16,533
(16.4) 173,218 203,513
(14.9) Industrial -- Other
27,926 26,636
4.8
319,483 297,404
7.4 Other sales of electricity
44,902 45,598
(1.5) 456,012 459,098
(0.7)
508,940
482,384
5.5 4,889,268 4,578,413
6.8
Deferred and other revenues
9,274 15,213
(39.0)
-- --
-- Provision for Revenue Stipulation
--
--
-- -- --
-- Sales for resale
987
1,166
(15.4) 31,176 26,282
18.6 Other
operating revenue
13,296 14,018
(5.2) -- --
-- SO2 Allowance Sales
-- 1
(100.0) --
--
-- NOx Allowance Sales
--
--
--
-- --
--
$ 532,497 $ 512,782
3.8
4,920,444 4,604,695
6.9 Average customers
717,925
705,312
1.8
-- --
-- Retail Net Energy For Load
5,401,160
5,068,794
6.6 Total Degree Days
1,404 1,149
22.2
Operating Revenues* Sales -- Kilowatt-hours*
Six Months
Ended Jun. 30, Percent Percent
2015 2014
Change 2015
2014
Change Residential
$
480,816 $ 456,979
5.2 4,170,027 3,912,055
6.6 Commercial
287,855 285,029
1.0
2,960,051 2,880,126
2.8 Industrial -- Phosphate
27,250 33,263
(18.1) 340,944 411,785
(17.2) Industrial -- Other
52,687 50,950
3.4
598,899 565,315
5.9 Other sales of electricity
85,430 88,105
(3.0) 856,077 880,899
(2.8)
934,038
914,326
2.2 8,925,998 8,650,180
3.2
Deferred and other revenues
16,742 13,243
26.4
-- --
-- Provision for Revenue Stipulation
--
--
-- -- --
-- Sales for resale
2,871
8,136
(64.7) 84,684 132,706
(36.2) Other
operating revenue
29,400 30,237
(2.8) -- --
-- SO2 Allowance Sales
-- 1
(100.0) --
--
-- NOx Allowance Sales
--
--
--
-- --
--
$ 983,051 $ 965,943
1.8
9,010,682 8,782,886
2.6 Average customers
715,977
703,816
1.7
-- --
-- Retail Net Energy For Load
9,644,864
9,254,002
4.2 Total Degree Days
2,034 1,719
18.3
Operating Revenues* Sales -- Kilowatt-hours*
Twelve
Months Ended Jun. 30, Percent Percent
2015 2014
Change 2015
2014
Change Residential
$
1,031,407 $ 977,986
5.5 8,913,822 8,594,476
3.7 Commercial
604,919 592,074
2.2
6,222,131 6,115,560
1.7 Industrial -- Phosphate
53,898 68,460
(21.3) 666,736 850,045
(21.6) Industrial -- Other
106,317 102,500
3.7
1,196,794 1,146,375
4.4 Other sales of electricity
179,224 179,760
(0.3) 1,802,074 1,831,676
(1.6)
1,975,765
1,920,780
2.9 18,801,557 18,538,132
1.4
Deferred and other revenues
(4,004) 2,180
(283.7)
-- --
-- Provision for Revenue Stipulation
--
--
-- -- --
-- Sales for resale
7,691
11,744
(34.5) 211,150 225,652
(6.4) Other
operating revenue
58,655 60,829
(3.6) -- --
-- SO2 Allowance Sales
-- --
-- -- --
-- NOx Allowance Sales
--
--
-- --
--
--
$ 2,038,107 $ 1,995,533
2.1 19,012,707
18,763,784
1.3
Average customers
712,241
700,650
1.7
-- --
-- Retail Net Energy For Load
19,705,602 19,314,895
2.0 Total Degree Days
4,353 4,126
5.5 * in thousands
PEOPLES GAS SYSTEM
GAS OPERATING STATISTICS (Unaudited)
Operating
Revenues* Therms*
Three
Months Ended Jun. 30, Percent
Percent 2015
2014
Change 2015
2014
Change By Customer Segment:
Residential
$ 28,081 $ 30,667
(8.4) 12,574
15,292
(17.8) Commercial
32,507 33,393
(2.7)
109,936 110,931
(0.9) Industrial
3,199 3,283
(2.6) 70,194 64,819
8.3 Off System Sales
14,376 9,379
53.3 46,365 18,522
150.3
Power generation
1,951 1,666
17.1 190,763
148,694
28.3 Other revenues
11,126
10,569
5.3
-- --
-- $ 91,240
$ 88,957
2.6
429,832 358,258
20.0
By Sales Type: System supply
$ 51,606 $ 50,017
3.2 65,710 40,651
61.6 Transportation
28,508 28,371
0.5 364,122 317,607
14.6
Other revenues
11,126 10,569
5.3 -- --
-- $ 91,240
$ 88,957
2.6
429,832 358,258
20.0 Average
customers
361,704 353,876
2.2 -- --
--
Operating Revenues* Therms*
Six Months
Ended Jun. 30, Percent Percent
2015 2014
Change 2015 2014
Change By Customer Segment: Residential
$
77,339 $ 80,411
(3.8) 46,935 48,561
(3.3)
Commercial
74,092 74,257
(0.2) 248,108 241,883
2.6 Industrial
6,442 6,918
(6.9)
146,317 136,803
7.0 Off System Sales
22,179
17,829
24.4 69,786 33,899
105.9 Power
generation
3,887 3,568
8.9 375,372 304,345
23.3 Other revenues
27,251
26,555
2.6
-- --
-- $ 211,190
$ 209,538
0.8
886,518 765,491
15.8
By Sales Type: System supply
$ 121,041 $
121,666
(0.5) 131,994 98,097
34.6
Transportation
62,898 61,317
2.6 754,524
667,394
13.1 Other revenues
27,251
26,555
2.6
-- --
-- $ 211,190
$ 209,538
0.8
886,518 765,491
15.8
Average customers
360,374
352,894
2.1 --
--
--
Operating Revenues*
Therms*
Twelve Months Ended Jun. 30, Percent
Percent 2015 2014
Change 2015
2014
Change By Customer Segment:
Residential
$ 141,045 $ 136,658
3.2 79,149
77,107
2.6 Commercial
138,910 135,492
2.5
466,734 447,923
4.2 Industrial
12,626 13,715
(7.9) 283,797 269,093
5.5 Off System Sales
43,708 35,791
22.1 119,914 79,840
50.2
Power generation
7,113 7,858
(9.5) 714,539
663,354
7.7 Other revenues
49,167
45,554
7.9
-- --
-- $ 392,569
$ 375,068
4.7
1,664,133 1,537,317
8.2
By Sales Type: System supply
$ 225,098 $
214,043
5.2 228,121 187,174
21.9
Transportation
118,303 115,471
2.5 1,436,012
1,350,143
6.4 Other revenues
49,168
45,554
7.9
-- --
-- $ 392,569
$ 375,068
4.7
1,664,133 1,537,317
8.2
Average customers
357,642
350,264
2.1 --
--
-- * in thousands
NEW MEXICO GAS
COMPANY GAS OPERATING STATISTICS (Unaudited)
Operating Revenues* Therms*
Three
Months Ended Jun. 30, Percent
Percent 2015
2014(1)
Change 2015
2014(1)
Change By Customer Segment: Residential
$ 38,235 $ 44,911
(14.9 ) 38,865
36,973
5.1 Commercial
10,319 14,474
(28.7
) 16,763 17,579
(4.6 ) Industrial
112 249
(55.0 ) 246 364
(32.4
) Off System Sales
-- --
-- -- --
-- On System Transportation
3,673 3,900
(5.8
) 73,376 75,696
(3.1 ) Off System
Transportation
232 209
11.0 12,296 11,060
11.2 Other revenues
1,481
1,672
(11.4 ) --
--
-- $
54,052 $ 65,415
(17.4
) 141,546 141,672
(0.1 ) By Sales Type: System supply
$ 48,666 $ 59,634
(18.4 ) 55,874
54,916
1.7 Transportation
3,905 4,109
(5.0
) 85,672 86,756
(1.2 ) Other revenues
1,481 1,672
(11.4 ) -- --
-- $ 54,052
$ 65,415
(17.4 ) 141,546
141,672
(0.1 )
Average customers
515,761
512,304
0.7 --
-- -- Total Degree
Days
472
468
0.9
Operating Revenues* Therms*
Six Months Ended Jun. 30,
Percent Percent 2015
2014(1)
Change 2015
2014(1)
Change By Customer Segment: Residential
$ 125,693 157,129
(20.0 )
160,105 159,560
0.3 Commercial
33,526 47,428
(29.3 ) 57,820 61,568
(6.1 )
Industrial
330 669
(50.7 ) 671 1,037
(35.3 ) Off System Sales
308 2,175
(85.9 ) 1,200 4,251
(71.8 ) On
System Transportation
9,764 10,178
(4.1 )
158,110 173,462
(8.9 ) Off System
Transportation
437 425
3.0 22,603 22,097
2.3 Other revenues
2,968
3,177
(6.6 ) --
--
-- $
173,026 $ 221,181
(21.8
) 400,509 421,975
(5.1 ) By Sales Type: System supply
$ 159,857 $ 207,401
(22.9 )
219,796 226,416
(2.9 ) Transportation
10,201 10,603
(3.8 ) 180,713 195,559
(7.6 ) Other revenues
2,968
3,177
(6.6 )
-- --
--
$ 173,026
$ 221,181
(21.8 ) 400,509
421,975
(5.1 )
Average customers
516,273
513,096
0.6 --
-- -- Total Degree
Days
2,393
2,411
(0.8 )
Operating Revenues* Therms*
Twelve Months Ended
Jun. 30, Percent Percent
2015(1)
2014(1)
Change
2015(1)
2014(1)
Change By Customer Segment: Residential
$ 249,614 $ 281,674
(11.4 )
284,974 296,917
(4.0 ) Commercial
69,153 81,856
(15.5 ) 105,164 112,773
(6.7 ) Industrial
1,527 1,742
(12.3
) 2,601 2,932
(11.3 ) Off System Sales
308 2,175
(85.8 ) 1,200 4,251
(71.8 ) On System Transportation
18,888 19,738
(4.3 ) 314,374 337,521
(6.9 )
Off System Transportation
907 840
8.0 47,462
44,409
6.9 Other revenues
6,288
6,662
(5.6 ) --
--
-- $
346,685 $ 394,687
(12.2
) 755,775 798,803
(5.4 ) By Sales Type: System supply
$ 320,602 $ 367,447
(12.7 )
393,939 416,873
(5.5 ) Transportation
19,795 20,578
(3.8 ) 361,836 381,930
(5.3 ) Other revenues
6,288
6,662
(5.6 )
-- -- --
$ 346,685 $ 394,687
(12.2 ) 755,775
798,803
(5.4 ) Average customers
513,197 510,501
0.5 -- --
-- Total Degree Days
4,016 4,349
(7.7 ) (1) Information presented for
2014 is for comparative purposes only, as this was before the date
of acquisition (Sep. 2, 2014). * in thousands
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150730005204/en/
TECO Energy, Inc.News Media:Sylvia Vega, 813-228-4381orInvestor
Relations:Mark Kane, 813-228-1772Internet:
http://www.tecoenergy.com
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