U.S. Markets closed

Entergy Corp (ETR) Q1 Earnings Miss Estimates, Down Y/Y

Zacks Equity Research

Entergy Corporation ETR reported first-quarter 2019 adjusted earnings of 82 cents per share, which missed the Zacks Consensus Estimate of 94 cents by 12.8%. Moreover, the reported figure decreased by a penny from 83 cents registered in the year-ago quarter.

 

Excluding the effects of special items, the company registered GAAP earnings of $1.32 per share compared with earnings of 73 cents a year ago.

 

Total Revenues

 

In the quarter under review, total revenues came in at $2,609.6 million, which lagged the Zacks Consensus Estimate of $2,670 million by 2.3%. Also, the top line fell 4.2% from the year-ago quarter’s $2,723.9 million.

 

Segment Results

 

Utility: The segment’s quarterly adjusted earnings came in at $1.20 per share compared with $1.19 in the prior-year quarter.

 

Parent & Other: The segment incurred adjusted loss of 38 cents per share compared with a loss of 36 cents in the prior-year quarter.

 

Entergy Wholesale Commodities (EWC): The segment registered earnings of 50 cents per share on an as-reported basis against a loss of 10 cents registered in the year-ago quarter.

 

Highlights of the Release

 

Operating expenses in the quarter summed $2.33 billion, down 2.6% from $2.39 billion in the year-ago quarter.

 

Interest expenses were $201 million, up 9.9% from $182.9 million in the year-ago quarter.

 

In the reported quarter, total retail customers served by the company increased 0.3% to nearly 2.9 million.

 

Entergy Corporation Price, Consensus and EPS Surprise
 

Entergy Corporation Price, Consensus and EPS Surprise | Entergy Corporation Quote

Financial Highlights

As of Mar 31, 2019, Entergy had cash and cash equivalents of $983.5 million compared with $481 million as on Dec 31, 2018.

 

At the end of the first three months of 2019, the company generated cash from operating activities of $501.2 million, down from $557.4 million in the prior year quarter.

 

Guidance

 

For 2019, Entergy expects operational earnings of $5.10-$5.50 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.41, higher than the midpoint of the company’s guided range.

 

Zacks Rank

 

Entergy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 

Recent Utility Releases

 

FirstEnergy Corp. FE, which carries a Zacks Rank #3, delivered first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.

 

NextEra Energy, Inc. NEE, which carries a Zacks Rank #2 (Buy), reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.

 

DTE Energy Co. DTE, which carries a Zacks Rank #2, reported first-quarter 2019 operating earnings per share (EPS) of $2.05, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.

 

Biggest Tech Breakthrough in a Generation

 

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

 

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.

 

See 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
FirstEnergy Corporation (FE) : Free Stock Analysis Report
 
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
 
Entergy Corporation (ETR) : Free Stock Analysis Report
 
DTE Energy Company (DTE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research