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UPDATE 1-ITC Holdings sees 2010 earnings below Street

Wed Sep 30, 2009 5:30pm EDT

Stocks

   

* Backs FY09 EPS view of $2.32-$2.42

* Sees FY10 EPS of $2.52-$2.62 vs est $2.70

Sept 30 (Reuters) - Power company ITC Holdings Corp (ITC.N) forecast 2010 earnings below market estimates, but backed its 2009 outlook.

For 2010, the company expects per-share earnings of $2.52 to $2.62, below analysts' average expectation of $2.70 a share, according to Reuters Estimates.

The company reaffirmed 2009 earnings view of $2.32 to $2.42 a share and capital expenditure of $300 million and $345 million.

For 2010, it sees capital expenditure of $405 million to $460 million.

Shares of the company closed at $45.45 Wednesday on the New York Stock Exchange.

For the alerts double-click [ID: nWNAB4868] (Reporting by Arundhati Ramanathan in Bangalore; Editing by Ratul Ray Chaudhuri)



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