Westar Energy, Inc.
) reported second-quarter 2013 earnings per share of 53 cents,
beating the Zacks Consensus Estimate by 9 cents. Quarterly
earnings were 10.4% higher than the year-ago level primarily due
to effective cost-containment efforts and increased proceeds from
corporate-owned life insurance.
Westar Energy posted total revenues of $569.6 million,
marginally below the Zacks Consensus Estimate of $573 million.
However, revenue increased 0.6% from the year-ago figure of
A strong contribution from Wholesale, Transmission and Other
segments, partially offset by a decline in revenues from Retail -
Residential, Commercial and Industrial led to the moderate
The company's total operating expenses increased 1.1% year
over year to $438.1 million mainly attributable to higher fuel
and purchased power as well as operating and maintenance costs.
Westar Energy reported operating income of $131.5 million, down
1.2% year over year.
Interest expenses increased 2.2% year over year to $45.8
million primarily due to a rise in the long-term debt level.
Cash and cash equivalents of Westar Energy as of Jun 30, 2013,
were $4.0 million, down from $5.8 million as of Dec 31, 2012.
The company's long-term debt increased to $5.7 billion as of
Jun 30, 2013 from $5.5 billion as of Dec 31, 2012 due to the
issuance of $250 million principal amount of first mortgage
Westar Energy's cash flow from operating activities during the
first six months of 2013 was $231.3 million, up 124.2% than
$103.2 million in the first six months of 2012. Cash flow surged
on account of receipts from retail and wholesale customers, lower
pension and post-retirement benefit as well as fuel and purchased
Westar Energy increased its full-year 2013 earnings guidance
to the range of $2.05-$2.15 from the prior $2.00-$2.15 per
Other Company Releases
) reported second quarter earnings of 35 cents per share, missing
the Zacks Consensus Estimate by 5 cents.
) announced second quarter operating earnings of 59 cents per
share, beating the Zacks Consensus Estimate by 7 cents.
) reported second quarter operational earnings of 49 cents per
share ahead of the Zacks Consensus Estimate by a penny.
Westar Energy currently carries a Zacks Rank #3 (Hold).
Topeka, KS-based Westar Energy provides electricity to retail
as well as wholesale customers. The company utilizes coal,
natural gas, uranium, wind and landfill gas for electricity
ALLETE INC (ALE): Free Stock Analysis Report
FIRSTENERGY CP (FE): Free Stock Analysis
PPL CORP (PPL): Free Stock Analysis Report
WESTAR ENERGY (WR): Free Stock Analysis
To read this article on Zacks.com click here.