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UIL Holdings to take one-time charge in Q3, raises guidance

  • UIL Holdings (UIL +1.2%) says a decision by the Connecticut Utilities Regulatory Authority to disallow ~$22M in "deferred storm costs and capital costs related to UIL’s recently constructed administrative and operations buildings," will result in a one-time pretax charge of $15-18M in Q3.
  • UIL also raises its guidance for the full year to $2.15-2.30/ share (ex-items) from $2.05-2.25. (8-K)
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