NEW ORLEANS — Entergy Corporation saw first quarter 2014 as-reported earnings of $401.2 million, or $2.24 per share, compared with $161.4 million, or 90 cents per share, for first quarter 2013.
On an operational basis, Entergy’s first quarter 2014 earnings were $410.1 million, or $2.29 per share, compared with $167.7 million, or 94 cents per share, in first quarter 2013.
“The story for first quarter results was net revenue,” said Entergy chairman and CEO Leo Denault. “The cold weather we experienced this past winter put stress on the power and gas systems, driving volatility and higher prices, and gave a glimpse of the longer term path these markets are on due to years of market design issues and regulatory intervention. The market prices realized this winter allowed us to capture significant value through our hedging strategy, and it highlighted the diversification value of our nuclear assets in that region.”
“Utility revenue also benefitted from the cold weather. However, even on a weather-adjusted basis, sales growth was positive for residential, commercial and industrial customer classes and was consistent with our expectation for continued sales growth.”