Entergy losses $151.7M in first quarter due to Vermont plant

by Associated Press

Published: April 26,2012

Tags: accounting, electricity, energy, loss, net loss, nuclear, plant, power, power distribution, power generation, publicly traded company, utilities

NEW ORLEANS — Power provider Entergy Corp. posted a first-quarter loss after taking an accounting loss on its Vermont Yankee nuclear plant and expenses from the pending spinoff of its electric transmission business.

For the January-through-March period, New Orleans-based Entergy said it lost $151.7 million, or 86 cents per share, on revenue of $2.38 billion. In the year-ago first quarter, the company earned $248.7 million, or $1.39 per share, on revenue of $2.54 billion.

Without the special items, Entergy said it would have earned 44 cents per share. Analysts surveyed by FactSet had forecast per-share earnings of $1.13 per share on revenue of $2.46 billion.

Entergy blamed the revenue reduction partially on a milder-than-normal winter that followed a colder-than-normal winter in the previous first quarter.