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TECO ENERGY'S EARNINGS LEVEL FOR FIRST QUARTER

 TECO ENERGY'S EARNINGS LEVEL FOR FIRST QUARTER
 TAMPA, Fla., April 15 /PRNewswire/ -- TECO Energy, Inc. (NYSE: TE)


today reported earnings per share for the quarter ended March 31, 1992 of 46 cents, the same as reported for the first quarter of 1991.
 Chairman and CEO Timothy L. Guzzle said, "Both Tampa Electric and the diversified companies achieved higher operating results this quarter compared to last year. These positive results were achieved despite generally weak economic conditions."
 Guzzle said TECO Energy's earnings were flat quarter-to-quarter in spite of improved operating results because of the absence of favorable state income tax adjustments recorded in the first quarter of 1991.
 Consolidated net income for 1992's first quarter was $26.4 million on revenues of $262.6 million, compared to net income of $26.4 million on revenues of $252.6 million for the first quarter of 1991.
 Tampa Electric's first-quarter operating income was $41.5 million on revenues of $226.6 million, compared to $38.9 million on revenues of $214.3 million for the same period last year. A 5 percent increase in retail energy sales due primarily to cooler weather coupled with customer growth of 1.3 percent helped boost operating income by 7 percent.
 First quarter operating income for TECO Energy's diversified companies, which includes a tax credit on coalbed methane production, increased 21 percent to $11.7 million on revenues of $86.2 million, up from $9.7 million on revenues of $90.3 million for the same period in 1991. Operating income increased principally from higher volume at the water transportation companies and increased production of coalbed methane.
 "TECO Energy's transportation business continues to be a strong performer, and our investment in coalbed methane continues to achieve good returns despite today's low gas prices," said Guzzle.
 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 12 Months ended
 March 31 March 31
 1992 1991 1992 1991
 Revenues (millions) $262.6 $252.6 $1,164.1 $1,113.2
 Net income (millions) $ 26.4 $ 26.4 $ 145.3 $ 138.3
 Earnings per share $ 0.46 $ 0.46 $ 2.55 $ 2.43
 Average shares
 outstanding
 (thousands) 57,149 56,857 57,032 56,844
 -0- 4/15/92
 /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-AW -- FL004 -- 8636 04/15/92 11:21 EDT
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Date:Apr 15, 1992
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