Entergy Announces Preliminary Third Quarter Earnings Guidance
Entergy Corporation (NYSE: ETR) announced that it expects third quarter 2013 earnings of approximately $1.33 per share and operational earnings of approximately $2.40 per share. The third quarter results for 2012 were $1.89 per share and $1.95 per share on an operational basis. Entergy also affirmed previously issued operational earnings guidance for 2013.
The increase in Utility third quarter 2013 operational earnings was due primarily to higher net revenue and a lower effective income tax rate. Nuclear and combined-cycle natural gas-fired-generation investments placed in approximately at the end of 2012 affected the pricing adjustments in net revenue which also reflected increased sales due to less favorable weather in the third quarter of 2013.
The quarter-over-quarter decrease in operational earnings at Entergy Wholesale Commodities was due primarily to higher non-fuel operation and maintenance and depreciation expenses, partially due to a lower effective income tax rate on operational earnings.
Parent & Other results increased during the quarter due to lower income tax expense.
Entergy affirmed that current expectations of 2013 operational earnings point to around the middle of the range compared to its previously issued guidance within the range of $4.60 to $5.40 per share.
Entergy will report third quarter earnings results before the market opens on Tuesday the 29th October 2013, and host a teleconference at 10 a.m. CT that day to discuss the earnings announcement and the company’s financial performance. The teleconference may be accessed by dialing (719) 457-2080, confirmation code 8044514, no more than 15 minutes prior to the start of the call or by visiting Entergy’s website at www.entergy.com. The presentation slides will also be available on Entergy’s website before the market opens on the day of the call. A replay of the teleconference will be available for seven days thereafter on (719) 457-0820, confirmation code 8044514.
Entergy Corporation, an integrated energy company engaged primarily in electric power production and retail distribution operations, celebrates its 100th birthday this year. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including more than 10,000 megawatts of nuclear power, making it one of the leading nuclear generator sin the United States. Entergy employs approximately 15,000 workers and delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. The annual revenues are more than $10 billion.