The Novi power grid owner ITC Holdings Corp. (NYSE: ITC) Thursday reported net income of $59 million or $1.12 a share in the third quarter ended Sept. 30, up from $51.2 million or 98 cents a share in the third quarter of 2012.
Novi-based ITC Holdings Corp. (NYSE: ITC), the nation’s largest independent electric transmission company, reported net income of $47.4 million or 90 cents a share in the second quarter ended June 30, up from $42.4 million or 81 cents a share in the same quarter a year earlier.
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.
ITCTransmission, Michigan Electric Transmission Co. and ITC Midwest, operating subsidiaries of ITC Holdings Corp. (NYSE: ITC), have sent 63 utility crew members to assist in restoring power to customers affected by the recent storms on the East Coast.