TECO Energy to host a Webcast October 28
Management to discuss third-quarter results and 2010 outlook
TAMPA, October 12, 2010
TECO Energy, Inc. (NYSE: TE) today announced that the company will host a Webcast concurrent with a conference call with the financial community on Thursday, October 28, 2010, at 9:00 AM Eastern time.
Vice President and Chief Financial Officer Sandra Callahan will discuss the company’s third-quarter results, outlook for the remainder of 2010 and a preliminary discussion of the 2011 business drivers.
In the third quarter, Tampa Electric will record the one-time $24 million reduction in base revenues ($14.7 million after-tax) as agreed to in the regulatory stipulation approved by the Florida Public Service Commission in August. This reduction in base revenues was included in TECO Energy’s 2010 earnings guidance range of $1.25 to $1.35 per share as updated on August 5, 2010.
The company’s third-quarter results, including unaudited income statement, balance sheet, statement of cash flow and utility operating statistics, will be released Thursday, October 28, 2010, before the market opens and prior to the call.
The Webcast can be accessed through a link on TECO Energy’s Web site at: http://www.tecoenergy.com.
The Webcast will be available for replay through a link on the Web site starting approximately two hours after the conclusion of the live event; the replay will be available on the Web site for 30 days.
Additional information regarding TECO Energy is available through the Investors section of TECO Energy’s Web site at: http://www.tecoenergy.com.
TECO Energy, Inc. (NYSE: TE) is an energy-related holding company. Its principal subsidiary, Tampa Electric Company , is a regulated utility in Florida with both electric and gas divisions ( Tampa Electric and Peoples Gas System ). Other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which is engaged in electric power generation and distribution and energy-related businesses in Guatemala.
Note: This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Actual results may differ materially from those forecasted. The forecasted results are based on the company's current expectations and assumptions, and the company does not undertake to update that information or any other information contained in this press release, except as may be required by law. Factors that could impact actual results include: regulatory actions by federal, state or local authorities; unexpected capital needs or unanticipated reductions in cash flow that affect liquidity; the ability to access the capital and credit markets when required; the availability of adequate rail transportation capacity for the shipment of TECO Coal's production; general economic conditions affecting energy sales at the utility companies; economic conditions, both national and international, affecting the Florida economy and demand for TECO Coal 's production; weather variations and changes in customer energy usage patterns affecting sales and operating costs at Tampa Electric and Peoples Gas and the effect of extreme weather conditions or hurricanes; changes in operating conditions or commodity prices affecting the operating costs and the competitive position of our business and their products and services; increases in operating cost, environmental or safety rule changes that could adversely affect the production levels and margins at TECO Coal; fuel cost recoveries and related cash at Tampa Electric and natural gas demand at Peoples Gas; the ability of TECO Energy's subsidiaries to operate equipment without undue accidents, breakdowns or failures; changes in the U.S. federal tax code on earnings from foreign investments that could reduce earnings; and the ultimate outcome of efforts to revise the significantly lower EEGSA VAD tariff rates implemented by regulatory authorities in Guatemala effective Aug. 1, 2008 affecting TECO Guatemala's results. Additional information is contained under "Risk Factors" in TECO Energy, Inc.'s Annual Report on Form 10-K for the period ended Dec. 31, 2009, and as updated in subsequent SEC filings.