Entergy expects earnings to exceed forecast

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