Entergy expects earnings to exceed forecast
by Associated Press
Published: April 19,2011
NEW ORLEANS — Power provider Entergy Corp. said today that it expects first-quarter profit to exceed analysts’ forecasts.
The company said it expects to report first-quarter earnings of about $1.37 per share, up from $1.12 per share for the first quarter of 2010.
A year ago, the company had special, one-time items stemming from an abandoned plan to spin off its nuclear generators that produce power for wholesale markets into a separate company.
Analysts surveyed by FactSet have forecast earnings of $1.32 per share on revenue of $2.77 billion for the latest quarter.
Entergy said increased weather-adjusted sales would increase earnings in its regulated utility division that operates in Louisiana, Mississippi, Arkansas and Texas. That will be partially offset by an earnings decrease at Entergy Wholesale Commodities due to unplanned outages and lower power pricing from its nuclear fleet, the company said.
The utility’s parent division will see lower results because of several individually insignificant items, including higher expenses on the parent company’s debt, Entergy said.
Entergy plans to report first-quarter results April 29.
Source: Associated Press
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- George’s Girls put shopping skills to work
- Justice Department files complaint against tax preparer
- DMR pays accounting firm more than double contract's worth
- Following ruling, Entergy to hand over records to county
- Report: State's emergency care ranks highest in Southeast
- Crowded field lines up for Jackson mayoral election
- Boyd Gaming reports drop in in-state net revenue
- Another fiberhood qualifies for C Spire 1-gigabit Internet service
- Cochran questions nominee concerning Stanford ponzi scheme