El Paso Electric Co EE reported upbeat second-quarter earnings and narrowed its full-year net profit forecast.
El Paso Electric reported its quarterly net income at $33.0 million, or $0.78 per share, versus analysts' estimates of $0.63 per share.
El Paso Electric now expects full-year net profit of $2.20 to $2.50 per share, versus its earlier forecast of $2.10 to $2.50 per share. Analysts were expecting earnings of $2.25 per share.
El Paso shares dropped 0.41% to close at $34.16 yesterday.
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