Update: The Empire District Electric Company's Q2 Earnings - Revenue, EPS And Margins Rise, Revenue Increase Approved
- EDE reported solid quarterly results and very strong full financial year performance, with EPS jumping almost 18% Y/Y and revenue up ~10%. The authorities approved an 11% electric revenue increase.
- I reiterate my long thesis. My target price is raised to $26. EDE should be held as a buy-and-hold-investment for excellent dividend yield of over 4% and future revenue increases.
- The long thesis has worked very well, yielding a 26% total return in a year. The 10% dip I advised to wait for materialized after ~6 weeks.