Warmer winter cuts into Westar’s first-quarter profit

Westar Energy on Tuesday announced a first-quarter profit of $51 million, or 38 cents per share, compared to $69 million, or 53 cents per share, for the first quarter of 2014.

The reason for the lower profit, the company said, was milder weather, which cut both energy marketing margins and retail energy sales. It also reflects a $6 million estimated refund obligation for transmission revenues.

The company also lowered its earnings guidance for the whole of 2015 to $2.18 to $2.33 per share. That’s a change from $2.25 to $2.45 per share.

This story was originally published May 5, 2015 at 4:52 PM with the headline "Warmer winter cuts into Westar’s first-quarter profit."