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.
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.
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
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.
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.
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%.
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