This compares to earnings of
For the fourth quarter of 2021,
Consolidated revenues totaled
'Across the board - from operational efficiency to customer care to financial performance - the company continues to deliver exceptional results,' said
For the full year, retail deliveries of electricity - excluding the iron ore mine in
Electricity consumption by small commercial and industrial customers was 4.4 percent higher during 2021. Electricity use by large commercial and industrial customers - excluding the iron ore mine - rose by 5.3 percent.
Residential electricity use was down by 0.6 percent.
On a weather-normal basis, retail deliveries of electricity during 2021 - excluding the iron ore mine - increased by 2.6 percent.
Natural gas deliveries in
The company reaffirmed its earnings guidance for 2022. Calendar year 2022 earnings are expected to be in a range of
On
Earnings per share listed in this news release are on a fully diluted basis.
Forward-looking statements
Certain statements contained in this press release are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based upon management's current expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those contemplated in the statements. Readers are cautioned not to place undue reliance on these statements. Forward-looking statements include, among other things, statements concerning management's expectations and projections regarding earnings and future results. In some cases, forward-looking statements may be identified by reference to a future period or periods or by the use of forward-looking terminology such as 'anticipates,' 'believes,' 'estimates,' 'expects,' 'forecasts,' 'guidance,' 'intends,' 'may,' 'objectives,' 'plans,' 'possible,' 'potential,' 'projects,' 'should,' 'targets,' 'will' or similar terms or variations of these terms.
Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, but are not limited to: general economic conditions, including business and competitive conditions in the company's service territories; the extent, duration and impact of the COVID-19 pandemic or any future health pandemics; timing, resolution and impact of rate cases and other regulatory decisions; the company's ability to continue to successfully integrate the operations of its subsidiaries; availability of the company's generating facilities and/or distribution systems; unanticipated changes in fuel and purchased power costs; key personnel changes; varying, adverse or unusually severe weather conditions; continued industry restructuring and consolidation; continued advances in, and adoption of, new technologies that produce power or reduce power consumption; energy and environmental conservation efforts; the company's ability to successfully acquire and/or dispose of assets and projects; cyber-security threats and data security breaches; construction risks; equity and bond market fluctuations; changes in the company's and its subsidiaries' ability to access the capital markets; changes in tax legislation or our ability to use certain tax benefits and carryforwards; federal and state legislative and regulatory changes, including changes to environmental standards, the enforcement of these laws and regulations and changes in the interpretation of regulations by regulatory agencies; supply chain disruptions; political developments; current and future litigation and regulatory investigations, proceedings or inquiries; changes in accounting standards; the financial performance of
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