Entergy Second-Quarter Profit Falls Shy of Street Views
July 31 2019 - 8:33AM
Dow Jones News
By Colin Kellaher
Entergy Corp. (ETR) Wednesday reported second-quarter profit
that missed expectations amid less favorable weather and higher
spending, but the utility holding company said it still expects to
meet its full-year earnings forecast.
The New Orleans company reported net income of $236 million, or
$1.22 a share, for the quarter, down from $245 million, or $1.34 a
share, a year earlier.
On an adjusted basis, Entergy reported a profit of $1.35 a share
for the quarter. Analysts polled by FactSet, on average, were
expecting adjusted earnings of $1.39 a share.
"Our results for the quarter keep us well-positioned to achieve
our full-year financial guidance," Entergy said.
The company narrowed its 2019 adjusted earnings guidance to
$5.15 to $5.45 a share from a previous range of $5.10 to $5.50 a
share. Analysts polled by FactSet are expecting an adjusted profit
of $5.28 a share for the year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 31, 2019 08:18 ET (12:18 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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