Entergy's third-quarter profit beat estimates
By Nicole Jao
NEW YORK, Nov 1 (Reuters) - Entergy Corp beat third-quarter profit estimates on Wednesday, as retail volume boosted by warmer-than-usual weather.
New Orleans, Louisiana-based Entergy said effects of weather on retail volume, certain regulatory actions across its operating companies in the quarter, along with lower operating and maintenance costs and higher income from investments drove profit and helped offset other costs.
The company reported a 4.9% year-on-year increase in retail sales volume to 35,790 GWh for the third quarter.
The company supplies power to about 3 million customers in Arkansas, Louisiana, Mississippi and Texas.
It posted earnings of $3.27 per share on an adjusted basis, beating an analysts' consensus of $3.02, LSEG data showed.
The firm narrowed its 2023 adjusted earnings per share guidance to a range of $6.65 to $6.85. (Reporting by Nicole Jao; editing by Jason Neely)
