Entergy Corporation (ETR) Tops Q1 Earnings, Offers View
Entergy Corporation ETR reported first-quarter 2016 operational earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.17 by 15.4%.
The reported number, however, plunged 19.6% from $1.68 per share reported in the year-ago period.
On a GAAP basis, Entergy reported first-quarter 2016 earnings of $1.28 per share, down 22.4% year over year, which includes special item adjustments of 7 cents.
Total Revenue
In the quarter under review, Entergy reported total revenues of $2,610 million, down 10.6% year-over-year from $2,920 million.
Segment Results
Utility: The segment’s quarterly earnings of $1.09 per share fell from $1.24 reported in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported operating earnings of 51 cents per share for the first quarter. In the corresponding quarter last year, the company had reported earnings of 71 cents a share at the segment.
Parent & Other: The segment’s quarterly loss amounted to 25 cents per share, narrower than the year-ago loss of 27 cents.
Financial Highlights
As of Mar 31, 2016, the company had cash and cash equivalents of $1,092 million, compared with $1,181 million as of Mar 31, 2015.
Total debt as of Mar 31, 2016 was $15.1 billion, compared with $14 billion as of Mar 31, 2015.
For first-quarter 2016, cash from operating activities was $533 million, down from $611 million in the prior-year quarter.
Guidance
For 2016, Entergy provided operational earnings per share guidance in the $4.95−$5.75 band.
The Utility, Parent & Other’s adjusted earnings are expected in the range of $4.20 to $4.50 per share.
Upcoming Peer Releases
Spark Energy, Inc. SPKE is scheduled to report first-quarter 2016 results on May 11. Zacks Consensus Estimate stands at 84 cents.
Avista Corporation AVA is scheduled to report first-quarter 2016 results on May 4 before the market opens. The Zacks Consensus Estimate stands at 82 cents.
CenterPoint Energy, Inc. CNP is scheduled to report first-quarter 2016 results on May 10 before the market opens. The Zacks Consensus Estimate stands at 32 cents.
Zacks Rank
Entergy currently has a Zacks Rank #3 (Hold).
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