Northeast Utilities Q3 Profit Rises; Backs 2014 Profit View

(RTTNews) - Northeast Utilities (NU) reported net income attributable to controlling interest of $234.6 million, or $0.74 per share in the third quarter of 2014, up from $209.5 million, or $0.66 per share, in the third quarter of 2013.

Third quarter 2014 results included after-tax integration charges of $3 million, or $0.01 per share, compared with integration charges of approximately $7 million, or $0.03 per share, in the third quarter of 2013. Excluding those charges, NU earned $237.6 million, or $0.75 per share, in the third quarter of 2014, compared with earnings of $216.5 million, or $0.69 per share, in the third quarter of 2013.

Operating Revenues for the quarter were $1.89 billion, almost flat with last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share and revenues of $1.91 billion for the quarter. Analysts' estimates typically exclude special items.

NU affirmed its 2014 earnings guidance of $2.60 to $2.70 per share. Analysts expect the company to report earnings of $2.66 per share for fiscal 2014.