Topeka-based Westar Energy has announced a decline in first-quarter earnings and has lowered its profit outlook for the entire year.

Westar, the state’s largest electric utility, reported earnings of $51 million, or 38 cents per share, for the first quarter of 2015. That was down from earnings of $69 million, or 53 cents per share, for the first quarter of 2014.

The lower-than-expected first quarter earnings has caused the company to lower its guidance for full 2015 earnings estimates. The company now estimates it will earn $2.18 to $2.33 per share in 2015. The company previously had expected 2015 earnings of $2.25 to $2.45 per share.

Westar officials said milder weather in the early part of 2015 reduced both energy market margins and also retail energy sales. The company said it also had a $6 million refund obligation as part of its electric transmission business.

On Wednesday, shares of Westar closed down 84 cents, or about 2.2 percent, to $36.20 on the New York Stock Exchange.