Friday, April 20, 2018
Business

TECO Energy reports increase in second-quarter earnings

TECO Energy's second-quarter earnings rose, thanks in part to customer growth and settlement of state rate cases.

The Tampa-based parent of Tampa Electric and Peoples Gas reported net income of $58.4 million, or $0.27 per share, compared with $51.4 million, or $0.24 per share, in the second quarter of 2013. Net income from continuing operations was also $58.4 million in the 2014 second quarter, compared with $51.6 million, or $0.24 per share, for the same period in 2013.

The company also had a 2014 benefit of $3.1 million reported in discontinued operations related to the 2012 sale of TECO Guatemala.

"We continue to deliver strong financial performance this year," said TECO CEO John Ramil. "The Tampa and Florida economies continue to grow and, as a result, both Tampa Electric and Peoples Gas are enjoying strong customer growth."

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