Cleco Earnings: Everything You Must Know Now

Cleco Corporation (NYSE:CNL) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Cleco Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 4.76% to $0.44 in the quarter versus EPS of $0.42 in the year-earlier quarter.

Revenue: Rose 8.14% to $240.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cleco Corporation reported adjusted EPS income of $0.44 per share. By that measure, the company missed the mean analyst estimate of $0.48. It missed the average revenue estimate of $241.38 million.

Quoting Management: “We produced solid results in the first quarter. In addition to favorable weather compared to the first quarter of 2012, we maintained our cost management initiative from last year,” said Bruce Williamson, president and CEO of Cleco Corporation. “We remain confident in our strong financial position today and going forward. As a result, we elected to raise our quarterly dividend from $0.3375 to $0.3625 per share or $1.45 per share for the year. Since 2010, we have raised our dividend five times and produced a 61 percent increase in dividend payments for shareholders.”

Key Stats (on next page)…

Revenue increased 3.2% from $233.43 million in the previous quarter. EPS increased 22.22% from $0.36 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.67 to a profit $0.66. For the current year, the average estimate is a profit of $2.53, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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