Entergy Sees Higher Q2 Profit; Backs FY14 Operational EPS View - Quick Facts

(RTTNews) - Entergy Corp. (ETR) said that it expects second quarter 2014 as-reported earnings of approximately $1.04 per share and operational earnings of approximately $1.10 per share. Results for second quarter 2013 were $0.92 per share on an as-reported basis and $1.01 per share on an operational basis. The increase in earnings reflected top line growth, particularly at Entergy Wholesale Commodities, the wholesale generation business, where both higher volume and prices contributed. Analysts polled by Thomson Reuters expect the company to report earnings of $1.16 per share for the second-quarter. Analysts' estimates typically exclude special items.

Special items in second quarter 2014 were related to the planned closure of the Vermont Yankee Nuclear Power Station later this year and the human capital management strategic imperative. Second quarter 2013 included special items for the proposed transmission spin-merge transaction and for expenses associated with the implementation of the human capital management strategic imperative.

The second quarter 2014 operational earnings improvement was due to higher earnings at Entergy Wholesale Commodities.

Entergy affirmed its 2014 operational earnings guidance range of $5.55 to $6.75 per share. Analysts project annual earnings per share of $6.17.

The company said it will report second quarter earnings results before the market opens on Tuesday, July 29, 2014.