0001089819-13-000057.txt : 20131203 0001089819-13-000057.hdr.sgml : 20131203 20131203172252 ACCESSION NUMBER: 0001089819-13-000057 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20131203 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131203 DATE AS OF CHANGE: 20131203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLECO CORP CENTRAL INDEX KEY: 0001089819 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 721445282 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15759 FILM NUMBER: 131255320 BUSINESS ADDRESS: STREET 1: 2030 DONAHUE FERRY ROAD CITY: PINEVILLE STATE: LA ZIP: 71360-5226 BUSINESS PHONE: 3184847400 MAIL ADDRESS: STREET 1: PO BOX 5000 CITY: PINEVILLE STATE: LA ZIP: 71361-5000 FORMER COMPANY: FORMER CONFORMED NAME: CLECO HOLDING CORP DATE OF NAME CHANGE: 19990630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLECO POWER LLC CENTRAL INDEX KEY: 0000018672 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 720244480 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05663 FILM NUMBER: 131255321 BUSINESS ADDRESS: STREET 1: 2030 DONAHUE FERRY ROAD CITY: PINEVILLE STATE: LA ZIP: 71360-5226 BUSINESS PHONE: 3184847400 MAIL ADDRESS: STREET 1: 2030 DONAHUE FERRY ROAD CITY: PINEVILLE STATE: LA ZIP: 71360-5226 FORMER COMPANY: FORMER CONFORMED NAME: CLECO UTILITY GROUP INC DATE OF NAME CHANGE: 19990708 FORMER COMPANY: FORMER CONFORMED NAME: CENTRAL LOUISIANA ELECTRIC CO INC DATE OF NAME CHANGE: 19920703 8-K 1 clecocorp8k_120313.htm 8-K clecocorp8k_120313


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): December 3, 2013
CLECO CORPORATION
(Exact name of registrant as specified in its charter)
Louisiana
1-15759
72-1445282
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
 
Identification No.)
2030 Donahue Ferry Road
 
Pineville, Louisiana
71360-5226
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (318) 484-7400
CLECO POWER LLC
(Exact name of registrant as specified in its charter)
Louisiana
1-05663
72-0244480
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
 
Identification No.)
2030 Donahue Ferry Road
 
Pineville, Louisiana
71360-5226
(Address of principal executive offices)
(Zip Code)
 
 
Registrant's telephone number, including area code: (318) 484-7400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))








Item 7.01 Regulation FD Disclosure.
 
On December 3, 2013, Cleco Corporation (the “Company”) issued a press release reporting its initial earnings guidance for 2014 and outlining its long-term capital expenditure forecast. For additional information, please refer to the press release furnished with this report as Exhibit 99.1 (the “Press Release”).
On December 9-12, 2013, members of the Company's executive management team will make various presentations in New York, Boston, and Toronto. At that time, presentation materials will be available on Cleco's investor relations website at www.cleco.com/investors.
The information in the Press Release is being furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that section. Accordingly, the information in the Press Release will not be incorporated by reference into any registration statement filed by the Company or its wholly owned subsidiary, Cleco Power LLC (“Cleco Power”), under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Company or Cleco Power that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or of any of its subsidiaries, including Cleco Power.
 
Item 9.01 Financial Statements and Exhibits.
 
(d) Exhibits.
 
The following exhibit is furnished herewith:
 
99.1 Press Release issued December 3, 2013, regarding the Company's earnings guidance for 2014 and its five-year capital expenditure forecast for 2014 through 2018.
 







SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



 
CLECO CORPORATION
 
 
 
 
 
 
Date: December 3, 2013
By: /s/ Terry L. Taylor
 
Terry L. Taylor
 
Controller and Chief Accounting Officer



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



 
CLECO POWER LLC
 
 
 
 
 
 
Date: December 3, 2013
By: /s/ Terry L. Taylor
 
Terry L. Taylor
 
Controller and Chief Accounting Officer









EXHIBIT INDEX

Exhibit Number
Exhibit Description
 
 
99.1
Press Release issued December 3, 2013, regarding the Company's earnings guidance for 2014 and its five-year capital expenditure forecast for 2014 through 2018.




EX-99.1 2 exhibit991_120313.htm EXHIBIT 99.1 exhibit991_120313


Exhibit 99.1

Cleco Corporation issues initial operational earnings guidance for 2014 and issues long-term capital expenditures
Sets operational earnings guidance of $2.65 to $2.75 per diluted share
Forecasts five-year capital expenditures for 2014 through 2018

PINEVILLE, La., Dec. 3, 2013 - Cleco Corporation (NYSE:CNL) today announces initial operational earnings guidance for 2014 and discloses its five-year capital expenditure plan.
“Our full-year 2014 operational earnings guidance range is $2.65 to $2.75 per diluted share, which is an 8 percent increase compared to our original 2013 earnings guidance midpoint,” said Bruce Williamson, president and CEO of Cleco Corporation. “Our continued strong earnings growth results from securing low-risk wholesale contracts, which remains one of the key initiatives for our utility.
“In addition, we are disclosing our preliminary capital expenditure plan for the next five years,” said Williamson. “Our plan includes a maintenance and routine forecast along with other projects that improve reliability for our customers, strengthen our generation fleet and increase our investment base while maintaining our financial strength and flexibility.”
2014 operational earnings guidance:
Cleco is initiating 2014 consolidated operational earnings guidance in the range of $2.65 to $2.75 per diluted share. The 2014 earnings guidance is based on normal weather, is generally consistent with the current rate plan, and excludes adjustments related to life insurance policies and the Acadia indemnifications. The effective tax rate assumed in the 2014 guidance is approximately 34 percent.     
Capital expenditure forecast:
The preliminary capital spending plan for 2014 is $195 million. Of that amount, an estimated $39 million will fund compliance with the Mercury and Air Toxics Standards rule in 2014. Between 2015 and 2018, we project an average annual spend of approximately $120 million on system maintenance and routine capital. Lower forecasted capital expenditures reflect a return to normal run-rate capital spending.
Management to meet with investors:
Members of Cleco’s executive management team will answer questions on the information in this release during investor meetings in New York, Boston and Toronto Dec. 9-12, 2013. At that time, presentation materials will be available on Cleco’s investor relations website at www.cleco.com/investors.





-more-





Cleco Corporation is a regional energy company headquartered in Pineville, La. Cleco owns a regulated electric utility company, Cleco Power LLC, which owns nine generating units with a total nameplate capacity of 2,565 megawatts and serves approximately 283,000 customers in Louisiana through its retail business and 10 communities across Louisiana and Mississippi through wholesale power contracts. Cleco also owns a wholesale energy business, Cleco Midstream Resources LLC, which owns two natural gas-fired generating units with a total nameplate capacity of 775 megawatts. For more information about Cleco, visit www.cleco.com.

In this press release, and from time to time, Cleco Corporation makes certain forward-looking statements about future results and circumstances, including, without limitation, statements regarding future earnings, capital expenditures, project completion dates and total shareholder return, with respect to which there are many risks and uncertainties.  Although Cleco believes that expectations reflected in such forward-looking statements are based on reasonable assumptions, Cleco can give no assurances that these expectations will prove to be correct or that other benefits anticipated in the forward-looking statements will be achieved.  For a discussion of risk factors and other factors that may cause the company’s actual results to differ materially from those contemplated in its forward-looking statements, please refer to the company’s filings with the Securities and Exchange Commission, including its 2012 Annual Report on Form 10-K and 2013 Quarterly Reports on Form 10-Q.

Analyst and Media Contact:
Robbyn Cooper
(318) 484-7136

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