Entergy Backs 2019 Guidance Despite First-Quarter Miss
May 01 2019 - 11:01AM
Dow Jones News
By Colin Kellaher
Entergy Corp. (ETR) on Wednesday posted first-quarter profits
that missed expectations amid weather headwinds, but the utility
holding company said it is on track to meet its full-year earnings
estimates.
Entergy reported net income of $255 million, or $1.32 a share,
for the quarter, up from $133 million, or 73 cents a share, a year
earlier.
On an adjusted basis, excluding results from the wholesale
commodities business that the company plans to exit, Entergy
reported a profit 82 cents a share for the quarter, compared with
83 cents a share a year ago.
Analysts polled by FactSet were expecting an adjusted profit of
87 cents a share.
Entergy said weather issues clipped adjusted earnings by 12
cents a share in the first quarter, but the New Orleans company
said it still expects full-year adjusted earnings of $5.10 to $5.50
a share. Analysts polled by FactSet, on average, are expecting a
2019 adjusted profit of $5.30 a share.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 01, 2019 10:46 ET (14:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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