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El Paso Electric plans equity issue for 2019

Feb 28, 2019 - SNL Energy Finance Daily
Financial Results

El Paso Electric Co. is planning an equity issuance in 2019 to maintain the company's balanced capital structure, executives revealed on Feb. 27 during a conference call.

"[W]e had a pretty good cash flow in 2018 but as you know, we will become a taxpayer in 2019, and that puts some pressure on us. We're not flowing back the excess for taxes yet," El Paso Senior Vice President and CFO Nathan Hirschi said on the call to discuss fourth-quarter 2018 earnings results. "So obviously, maintainin...