UniSource Energy Inc, the parent of Tucson Electric Power, said on Monday second-quarter profit rose 18 percent, helped by a growing customer base and increased wholesale revenues.
Net income for the Tucson, Arizona-based company rose to $11.8 million, or 32 cents per share, from $10 million, or 28 cents a share, in the year-ago period. Operating revenue rose 5 percent to $329.8 million, while operating expenses increased 6 percent.
UniSource now expects full-year profit of $1.55 to $1.85 per share, compared with its prior $1.55 to $1.95 forecast.
Analysts, on average, had expected second-quarter profit of 36 cents per share on revenue of $320.3 million, and full-year profit of $1.80 per share, according to Reuters Estimates.