ADVFN - Advanced Financial Network.
HOME» NYSE » I » ITC Stock Price » ITC Stock News

Itc Share News

 Itc Holdings Corp Stock Price
ITC Stock Price
 Itc Holdings Corp Stock Chart
ITC Stock Chart
 Itc Holdings Corp Stock News
ITC Stock News
 Itc Holdings Corp Company Information
ITC Company Information
 Itc Holdings Corp Stock Trades
ITC Stock Trades

Entergy Swings To 1Q Loss On Charges, Lower Revenue

DOW JONES NEWSWIRES Entergy Corp. (ETR) swung to a first-quarter loss as lower revenue, unfavorable weather and prices, and several special charges weakened the bottom line. Last week, the merchant power and utility company warned of weaker first-quarter earnings and lowered its full-year profit guidance, pointing to unfavorable weather, along with updated pension assumption and lower market energy prices. Entergy in December unveiled plans to spin off its electric transmission business and merge the operation with ITC Holdings Corp. (ITC). The deal is expected to allow Entergy to reduce its debt and focus on its utilities in four states and its fleet of nuclear power plants, which are expected to require substantial investments over the next several years. The company remains in legal disputes over its Vermont and New York nuclear power plants' operations. Entergy reported a loss of $151.7 million, or 86 cents a share, compared with a year-earlier profit of $248.7 million, or $1.38 a share. Excluding special items in the latest quarter, earnings were 44 cents. The company last week said it expected operating earnings of 43 cents, well below estimates at the time, saying the period would include charges for impairments at the Vermont Yankee nuclear plant and expenses tied to the proposed spinoff and merger of its electric transmission business. Revenue shrank 6.2% to $2.38 billion. Analysts polled by Thomson Reuters most recently projected $2.5 billion. Operating margin swung to negative 2.4% from positive 20.1%. Earnings at its utilities business fell 62% to $62.9 million, caused by about $46 million in higher taxes from a write-off. The wholesale commodities segment posted a loss of $168.5 million, compared with year-earlier earnings of $122.6 million. The company said the bottom line at both segment fell due in part to weaker revenues and higher non-fuel operation and maintenance expense. Total electricity sales volumes fell 4.1% as residential sales dropped 14%. Wholesale volume was down 23%. Shares of Entergy, which affirmed its full-year earnings view, closed Wednesday at $65.76 and were inactive premarket. The stock is down 10% this year. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stock News for Itc (ITC)
DateTimeHeadline
05/22/201516:07:17Current Report Filing (8-k)
05/21/201517:15:57Statement of Changes in Beneficial Ownership (4)
05/21/201517:13:22Statement of Changes in Beneficial Ownership (4)
05/21/201517:12:02Statement of Changes in Beneficial Ownership (4)
05/21/201517:11:10Statement of Changes in Beneficial Ownership (4)
05/21/201517:10:19Statement of Changes in Beneficial Ownership (4)
05/21/201517:09:25Statement of Changes in Beneficial Ownership (4)
05/20/201516:05:00ITC Declares Dividend to Shareholders
05/13/201506:00:00ITC Energizes Thumb Loop Transmission Line - capable of delivering...
05/01/201517:33:59ITC Holdings Corp. Cut to "Sell" at Zacks (ITC)
04/30/201517:26:20Quarterly Report (10-q)
04/30/201516:15:47ITC Holdings Corp. Lifted to "Hold" at Zacks (ITC)
04/30/201509:03:42Current Report Filing (8-k)
04/30/201508:30:00ITC Reports First Quarter 2015 Results
04/20/201510:09:45ITC Holdings Corp. Price Target Lowered to $43.00 at Argus (ITC)
04/17/201516:05:00Christine Mason Soneral Promoted to Senior Vice President and...
04/16/201516:05:00ITC Schedules First Quarter 2015 Earnings Release and Webcast
04/15/201516:18:04Statement of Changes in Beneficial Ownership (4)
04/09/201508:06:28Proxy Statement (definitive) (def 14a)
04/08/201516:38:27Current Report Filing (8-k)

Itc and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad