Pineville-based utility Cleco Corp. reported its second-quarter profit slipped to $36.6 million, or 60 cents per share, compared to $42 million, or 69 cents per share, a year ago.
However, those results include a customer-refund charge of $22.3 million, or 22 cents per share.
Growth in the utility’s wholesale business drove higher revenue, according to Bruce Williamson, chairman, president and chief executive officer.
Cleco expects to meet its earlier annual earnings projections of $2.65 to $2.75 per share.
The utility’s shares have fallen about 15 percent in the past month amid reports that potential buyer Macquarie, an Australian bank, is having difficulty finding investors to back the proposed deal. Another prospective buyer, Spain’s Iberdrola utility company, has also dropped out of the bidding.