Entergy Corporation ups earnings expectations
by MBJ Staff
Published: April 15,2014
NEW ORLEANS — Entergy Corporation expects first quarter 2014 as-reported earnings of approximately $2.23 per share and operational earnings of approximately $2.28 per share.
Results for first quarter 2013 were $0.90 per share on an as-reported basis and $0.94 per share on an operational basis.
First quarter 2014 earnings resulted from significantly higher realized wholesale energy prices at Entergy Wholesale Commodities, reflecting cold winter weather and northeast pipeline infrastructure limitations, which reinforces the need for a diverse generation portfolio and the value of existing nuclear generation facilities in the region. The Utility also saw higher earnings on colder-than-normal temperatures. Entergy also raised its 2014 operational earnings guidance to be in the range of $5.55 to $6.75 per share.
Special items in first quarter 2014 were recorded arising from the decision to close the Vermont Yankee Nuclear Power Station later this year and the human capital management strategic imperative. First quarter 2013 included a special item for the proposed transmission spin-merge transaction.
The increase in first quarter 2014 earnings was driven by higher results at Entergy Wholesale Commodities and Utility. On a consolidated basis, the preliminary estimate for the effective income tax rate was approximately 35 percent in first quarter 2014.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Entergy Corporation ups earnings expectations”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Retired judge to hear McDaniel's challenge of primary loss to Cochran
- PSC's Brandon Presley calls in-state nuclear waste dump a 'harebrained scheme'
- Georgia-Pacific completes acquisition of SPG Holdings
- Venture Tech merges with ISC, acquires SAT
- Officials set hunting dates for birds; expands dove season by 20 days
- State's jobless rate remains highest in U.S.
- Former DMR manager pleads guilty to embezzlement
- GOLF ranks state's courses; Fallen Oaks, Dancing Rabbit make top 100
- Court ruling on Section 42 leaves taxpayers on hook for tax repayments