Entergy (ETR) Q1 Earnings Miss, Revenues Top, ’18 View Intact
Entergy Corporation ETR reported first-quarter 2018 adjusted earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.31 by 11.5%. The reported figure also improved 17.2% from 99 cents in the year-ago quarter.
On a GAAP basis, the company’s earnings came in at 73 cents per share compared with 46 cents a year ago. The difference between GAAP and operating earnings in the first quarter was due to the effect of special items.
In the quarter under review, revenues came in at $2.72 billion, beating the Zacks Consensus Estimate of $2.47 billion by 10.3%. The top-line figure reflected year-over-year growth of 5% from the prior quarter’s figure of $2.59 billion.
Utility, Parent & Other: The segment’s quarterly adjusted earnings were 83 cents per share compared with 62 cents in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported adjusted earnings of 33 cents per share compared with 37 cents in the year-ago quarter.
Highlights of the Release
Interest expenses were $670 million in first-quarter 2018, up 0.9% from $664 million in the prior- year quarter.
In the reported quarter, total retail customers served by the company increased 0.2% to 2.9 million.
As of Mar Dec 31, 2018, the company had cash and cash equivalents of $1,206 million compared with $781 million as of Dec 31, 2017.
Total debt, as of Mar 31, 2018, was $17.7 billion compared with $16.7 billion as of Dec 31, 2017.
For the first quarter, the company generated cash from operating activities of $557.4 million, up from $529.4 million in the prior-year quarter.
For 2018, Entergy reaffirmed its operational earnings guidance per share in the band of $6.25-$6.85.
The Utility, Parent & Other adjusted earnings are also expected in the range of $4.50-$4.90 per share.
Entergy sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Peer Releases
NextEra Energy, Inc. NEE reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%. The bottom line was up 10.9% year over year.
FirstEnergy Corporation FE reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%. Quarterly earnings improved 28.9% year over year to come in within the projected range of 60-70 cents.
CenterPoint Energy CNP will report first-quarter results on May 4. The company has an Earnings ESP of +0.20% and a Zacks Rank #3 (Hold).
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