UIL Holdings Q1 Profit Beats Estimates; Reaffirms 2014 Earnings Outlook

(RTTNews) - UIL Holdings Corp. (UIL) reported consolidated net income to company of $55.45 million, or $0.97 per share, in the first quarter 2014, compared to $51.79 million or $1.01 per share, last year. Excluding items, net income for the first quarter 2014 was $62.4 million, or $1.09 per share.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.03 for the quarter. Analysts' estimates typically exclude special items.

Operating revenues increased to $571.16 million from $548.04 million. Analysts expected revenue of $590.17 million for the quarter.

UIL reaffirmed consolidated earnings for 2014 of $122 to $134 million, or $2.15 to $2.35 per share. Analysts expect the company to report 2014 profit per share of $2.28.