TECO Energy Earnings: Here’s Why the Stock is Down Now

TECO Energy, Inc. (NYSE:TE) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.57%.

TECO Energy, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 29.41% to $0.24 in the quarter versus EPS of $0.34 in the year-earlier quarter.

Revenue: Decreased 6.66% to $735.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: TECO Energy, Inc. reported adjusted EPS income of $0.24 per share. By that measure, the company missed the mean analyst estimate of $0.26. It beat the average revenue estimate of $726.15 million.

Quoting Management: TECO Energy President and Chief Executive Officer John Ramil said, “Our Florida utilities are growing as the state and local economies continue to recover, unemployment is decreasing, home sales are increasing and consumers are spending. Tampa Electric filed its full base rate increase request with the Florida Public Service Commission in April, and we are in the middle of the discovery and testimony processes with no significant surprises. We are working with the commission, its staff and the intervenors to reach a reasonable and constructive outcome.”

Key Stats (on next page)…

Revenue increased 11.31% from $661.1 million in the previous quarter. EPS increased 26.32% from $0.19 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 $0.35 to a profit $0.34. For the current year, the average estimate is a profit of $0.95, 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)