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TECO ENERGY REPORTS RESULTS

 TECO ENERGY REPORTS RESULTS
 TAMPA, Fla., July 15 /PRNewswire/ -- TECO Energy, Inc. (NYSE: TE)


reported earnings per share for the quarter ended June 30, 1992 of 61 cents compared to 67 cents for the same quarter in 1991.
 Consolidated net income for 1992's second quarter was $34.6 million on revenues of $283.6 million, compared to net income of $37.7 million on revenues of $290.9 million in 1991. The effect of milder weather on electricity sales and the absence of favorable income tax adjustments caused the decline in earnings.
 Tampa Electric's second quarter operating income was $51.9 million on revenues of $243.8 million, compared with $55.6 million on revenues of $251.9 million in 1991's second quarter. The utility's lower earnings were due to milder weather which caused a 4.7 percent decline in retail energy sales, partially offset by higher energy sales to other utilities. Customer growth was 1.4 percent.
 TECO Energy's diversified companies earned operating income of $13.1 million on revenues of $89.7 million during second quarter 1992, flat with the same 1991 period. Contributions from increased coalbed methane production and higher coal sales were offset by lower volume at the ocean-going water transportation business.
 Earnings per share for the six months ended June 30, 1992 were $1.07 compared to $1.13 for the same period in 1991. Consolidated net income was $61.1 million on revenues of $546.2 million, compared to $64.1 million on revenues of $543.4 million for the same period last year.
 Chairman and CEO Timothy L. Guzzle said, "TECO Energy's earnings for the six-month period were down despite improved operating results from our diversified companies. This was due to cooler than normal spring weather and the absence of favorable income tax adjustments of seven cents per share recorded during the first half of 1991. Tampa Electric's operating income for the first six months was about equal to last year's."
 Year-to-date operating income from the diversified companies, including the tax credit on coalbed methane, increased 9 percent to $24.8 million on revenues of $175.9 million in 1992 from $22.8 million on revenues of $181.2 million for the same period last year. Increased gas production at TECO Coalbed Methane was the principal contributor.
 Tampa Electric earned operating income of $93.4 million on revenues of $470.4 million compared to $94.5 million on $466.2 million for the first six months of last year. Higher profits on sales to other utilities nearly offset the effects of weather, higher depreciation and operating expenses.
 Earnings per share for the 12-months ended June 30, 1992 were $2.49 compared to $2.42 for the same period last year.
 TECO Energy is a diversified energy-related holding company headquartered in Tampa. Its principal businesses are Tampa Electric, TECO Transport & Trade, TECO Coal, TECO Coalbed Methane, TECO Power Services and TECO Properties.
 TECO ENERGY, INC.
 Summary information:
 Quarter Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Revenues (millions) $283.6 $290.9 $546.2 $543.4
 Net income (millions) $34.6 $37.7 $61.1 $64.1
 Earnings per share $0.61 $0.67 $1.07 $1.13
 Average shares
 outstanding (thousands) 57,261 56,906 57,207 56,884
 12 Months Ended
 June 30,
 1992 1991
 Revenues (millions) $1,156.9 $1,126.0
 Net income (millions) $142.3 $137.7
 Earnings per share $2.49 $2.42
 Average shares outstanding
 (thousands) 57,121 56,865
 -0- 7/15/92
 /CONTACT: Nancy Hanewinckel of TECO Energy, 813-228-4282 (office) or 813-351-8910 (home)/
 (TE) CO: TECO Energy, Inc. ST: Florida IN: UTI SU: ERN


JB-SS -- FL006 -- 9631 07/15/92 14:27 EDT
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Date:Jul 15, 1992
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