Revenue during the quarter grew 16.72 percent to $244.41 million from $209.40 million in the previous year period. Total expenses were 46.87 percent of quarterly revenues, down from 57.95 percent for the same period last year. This has led to an improvement of 1108 basis points in operating margin to 53.13 percent.

Operating income for the quarter was $129.86 million, compared with $88.05 million in the previous year period.

“The third quarter of 2016 was a pivotal quarter for the Company. We completed our more than $1.4 billion construction program, as we put the last unit of the Montana Power Station into commercial operation. We also received rate relief in Texas and New Mexico for Montana Units 1 and 2 and other plant added in the first phase of that program,” said Mary Kipp, Chief Executive Officer. “The August 25, 2016 final order from the Public Utility Commission of Texas approving an unopposed settlement allowed us to retroactively recognize revenues back to January 12, 2016. Also during the third quarter of 2016, we completed the sale of Four Corners, which means the Company no longer owns any coal-fired generation. Looking ahead, we anticipate filing new rate cases in Texas and New Mexico in the first half of 2017, primarily for the recovery of costs associated with the second phase of our construction program, including Montana Units 3 and 4, which are helping meet continued customer growth."

For financial year 2016, the company forecasts basic earnings per share to be in the range of $2.25 to $2.40.

The company has spent $206.32 million cash to meet investing activities during the nine month period as against cash outgo of $257.34 million in the last year period.

Cash flow from financing activities was $31.44 million for the nine month period, down 40.66 percent or $21.54 million, when compared with the last year period.

Cash and cash equivalents stood at $10.04 million as on Sep. 30, 2016, down 20.11 percent or $2.53 million from $12.57 million on Sep. 30, 2015.