Entergy’s second-quarter profit easily topped Wall Street’s view, and the power company raised its full-year earnings forecast.
Entergy’s net income attributable to the company was $567.3 million, or $3.16 per share, for the period ended June 30. A year earlier net income attributable to the company was $148.8 million, or 83 cents per share.
Earnings, adjusted for one-time gains, were $3.11 per share. That’s well above the $1.03 per share that analysts surveyed by Zacks Investment Research expected.
Operating revenue for the New Orleans-based company dropped to $2.46 billion from $2.71 billion.
Entergy Corp. said Tuesday that it now anticipates full-year earnings in a range of $6.60 to $7.40 per share. Its previous guidance was for earnings between $4.95 and $5.75 per share. Analysts polled by FactSet predict earnings of $5.14 per share.
Shares shed 43 cents to $80.84 in midday trading Tuesday. Its shares are up almost 14 percent since a year ago.