ITC Holdings Corp. (ITC) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.54. The company posted revenue of $298.00 million in the period, compared to analysts expectations of $303.67 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
ITC Holdings Corp. opened for trading at $45.75 and hit $46.17 on the upside on Thursday, eventually ending the session at $46.12, with a gain of 0.65% or 0.3 points. The heightened volatility saw the trading volume jump to 6,27,675 shares. Company has a market cap of $7,046 M.
In a different news, on Jun 1, 2016, Soneral Christine Mason (SVP & General Counsel) sold 8,616 shares at $44.54 per share price. According to the SEC, on May 4, 2016, Linda H Blair (EVP & Chief Business Officer) sold 27,246 shares at $44.36 per share price. On May 3, 2016, Joseph L Welch (Chairman, President & CEO) sold 23,274 shares at $43.91 per share price, according to the Form-4 filing with the securities and exchange commission.
ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates maintains and invests in transmission infrastructure. The Companys customers include investor-owned utilities municipalities cooperatives power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Companys subsidiaries operations include asset planning; engineering design and construction; maintenance and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering Design and Construction group is engaged in the design equipment specifications maintenance plans and project engineering for capital operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.