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TECO earnings decline

TECO Energy reported a decline in earnings during the second quarter of this year, largely attributed to mild weather.

Second quarter net income fell to $73.1 million or 34 cents per share compared with $77.5 million or 36 cents per share a year earlier.

"Our results this quarter reflect better growth at our Florida utilities, and the current challenging coal markets," said John Ramil, TECO's president and chief executive officer.

"Our Florida utilities are benefiting from continued improvement in the state and local economies with the strongest customer growth in more than three years, but weather has not been our friend this year," Ramil said.

TECO earnings decline 08/02/12 [Last modified: Thursday, August 2, 2012 1:06pm]
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