CH Energy cuts profit because of high fuel supply prices
CH Energy Group Inc. lowered its full-year earnings forecast Monday, citing high fuel supply prices and softening economic conditions.
The utility holding company now anticipates 2008 net income in a range of $2.30 to $2.50 per share. It previously predicted a profit between $2.40 and $2.70 per share.
Chairman, President and Chief Executive Steven V. Lant said in a statement that lower sales from its Central Hudson Gas & Electric Corp. unit also hurt its forecast by about 25 cents to 35 cents per share
Source: Forbes
Tags: CH Energy Group, fuel costs