Tucson Electric Power Company
TEP and its predecessor companies have served the greater Tucson metropolitan area for 126 years. TEP was incorporated in the State of Arizona in 1963. TEP is a regulated electric utility company serving approximately 425,000 retail customers. TEP’s service territory covers 1,155 square miles and includes a population of over one million people in Pima County, as well as parts of Cochise County. TEP's principal business operations include generating, transmitting, and distributing electricity to its retail customers. In addition to retail sales, TEP sells electricity, transmission, and ancillary services to other utilities, municipalities, and energy marketing companies on a wholesale basis. TEP is subject to comprehensive state and federal regulation. The regulated electric utility operation is TEP's only segment. TEP is a wholly owned subsidiary of UNS Energy Corporation (UNS Energy), a utility services holding company. UNS Energy is an indirect wholly owned subsidiary of Fortis Inc. (Fortis) which is a leader in the North American electric and gas utility business.
Company profile
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
Corporate docs
Calendar
2 Aug 19
25 Aug 19
31 Dec 19
News
Company financial data Financial data
| Quarter (USD) | Jun 19 | Mar 19 | Dec 18 | Sep 18 | |
|---|---|---|---|---|---|
| Revenue | 326.09M | 333M | 344M | 460M | |
| Net income | 42.06M | 26.2M | 11M | 95M | |
| Net profit margin | 12.90% | 7.87% | 3.20% | 20.65% | |
| Operating income | 67.14M | 42.88M | 36M | 126M | |
| Net change in cash | -26.75M | -41.67M | 120.11M | 12M | |
| Cash on hand | 69.69M | 96.44M | 138.11M | 18M | |
| Cost of revenue | 103.96M | 140.4M | 151.25M | 183.15M |
| Annual (USD) | Dec 18 | Dec 17 | Dec 16 | Dec 15 | |
|---|---|---|---|---|---|
| Revenue | 1.43B | 1.34B | 1.23B | 1.31B | |
| Net income | 188.32M | 176.67M | 124.44M | 127.79M | |
| Net profit margin | 13.15% | 13.17% | 10.08% | 9.78% | |
| Operating income | 288.14M | 326.33M | 243.13M | 259.3M | |
| Net change in cash | 100.11M | 2M | -20M | -18.17M | |
| Cash on hand | 138.11M | 38M | 36M | 56M | |
| Cost of revenue | 543.14M | 425.56M | 420.06M |
Financial data from company earnings reports
Financial report summary
?Management Discussion
- Because weather and other factors cause seasonal fluctuations in sales of power, our quarterly results of operations are not indicative of annual results. TEP's summer peak load occurs during the third quarter of the year when cooling demand is higher, which results in higher revenue during this period. By contrast, lower sales of power occur during the first quarter of the year due to mild winter weather in our retail service territory.
- TEP reported net income of $42 million in the second quarter of 2019 compared with net income of $58 million in the second quarter of 2018. The decrease of $16 million, or 27%, was primarily due to:
- TEP reported net income of $68 million in the first six months of 2019 compared with net income of $81 million in the first six months of 2018. The decrease of $13 million, or 16%, was primarily due to:
Content analysis
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New words:
abandoned, ADEQ, Aquifer, bifurcated, CAISO, deadline, disconnection, dispatch, document, EIM, embedded, emergency, exempt, Expedited, expenditure, extreme, factor, formatted, Grande, health, hearing, heat, Inline, Interactive, larger, moratorium, OATT, Oso, page, pool, prohibiting, redundant, ROD, rounded, Sahuarita, serve, suspension, unfavorable, volume, workshop, XBRL
Removed:
acquire, Advance, closed, exercising, holder, intent, operator, passed, promulgated, repeal, soliciting
Financial reports
10-Q
2019 Q2
Quarterly report
2 Aug 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
15 Feb 19
10-Q
2018 Q3
Quarterly report
2 Nov 18
10-Q
2018 Q2
Quarterly report
31 Jul 18
10-Q
2018 Q1
Quarterly report
1 May 18
10-K/A
2017 FY
Annual report (amended)
27 Feb 18
10-K
2017 FY
Annual report
15 Feb 18
10-Q
2017 Q3
Quarterly report
3 Nov 17
10-Q
2017 Q2
Quarterly report
28 Jul 17
Current reports
8-K
TEP Accelerates its Expansion of Renewable Energy Resources with New Wind Farm
1 Apr 19
8-K
Other Events
7 Nov 18
8-K
TEP Adds Natural Gas Resource to Support a More Diverse, Sustainable Power Portfolio
13 Oct 17
8-K
Changes in Registrant's Certifying Accountant
5 May 17
8-K
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
29 Dec 16
8-K
Other Events
22 Sep 16
8-K
Entry into a Material Definitive Agreement
30 Aug 16
8-K
Tucson Electric Power Company
16 Aug 16
8-K
Entry into a Material Definitive Agreement
4 Mar 16
8-K
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
16 Oct 15
Registration and prospectus
S-3
Shelf registration
6 Jun 19
424B1
Prospectus with pricing info
27 Nov 18
FWP
Free writing prospectus
26 Nov 18
S-1/A
IPO registration (amended)
26 Nov 18
S-1/A
IPO registration (amended)
8 Nov 18
S-1
IPO registration
14 Sep 18
424B3
Prospectus supplement
28 May 15
S-4
Registration of securities issued in business combination transactions
15 May 15
424B2
Prospectus for primary offering
7 Mar 14
424B3
Prospectus supplement
5 Mar 14
Other
EFFECT
Notice of effectiveness
17 Jun 19
EFFECT
Notice of effectiveness
27 Nov 18
CORRESP
Correspondence with SEC
26 Nov 18
CORRESP
Correspondence with SEC
26 Nov 18
EFFECT
Notice of effectiveness
27 May 15
UPLOAD
Letter from SEC
4 Aug 14
CORRESP
Correspondence with SEC
1 Aug 14
UPLOAD
Letter from SEC
1 Aug 14
UPLOAD
Letter from SEC
23 Sep 11
CORRESP
Correspondence with SEC
2 Sep 11