ITC Provides Initial 2013 Earnings, Capital Investment Guidance
NOVI — ITC Holdings Corp. Monday provided initial stand-alone operating earnings guidance for 2013 in the range of $4.80 to $5 a share. The operating earnings guidance provided is a non-GAAP measure which excludes the impact of after-tax expenses associated with ITC’s transaction with Entergy Corp.
In addition, aggregate stand-alone capital investments for 2013 are expected to be in the range of $760 million to $860 million, which includes $200 million to $230 million, $160 million to $180 million, $270 million to $300 million and $130 million to $150 million for operating subsidiaries ITCTransmission, METC, ITC Midwest and ITC Great Plains, respectively.
ITC Holdings (NYSE: ITC) is the nation’s largest independent electric transmission company. Based in Novi, ITC invests in the electric transmission grid to improve reliability, expand access to markets, lower the overall cost of delivered energy and allow new generating resources to interconnect to its transmission systems. ITC’s regulated operating subsidiaries include ITCTransmission, Michigan Electric Transmission Co. (METC), ITC Midwest and ITC Great Plains.
Through these subsidiaries, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri and Kansas, serving a combined peak load exceeding 26,000 megawatts along 15,000 circuit miles of transmission line. Through ITC Grid Development and its subsidiaries, the company also focuses on expansion in areas where significant transmission system improvements are needed.
More at www.itc-holdings.com.