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Entergy Corporation (ETR - Free Report) reported second-quarter 2016 operational earnings of $3.11 per share, beating the Zacks Consensus Estimate of $1.03 by 201.9%. The reported number also surged 274.7% from 83 cents per share reported in the year-ago period.
On a GAAP basis, Entergy reported second-quarter 2016 earnings of $3.16 per share, up 280.7% year over year, which includes special item adjustments of 5 cents.
In the quarter under review, Entergy reported total revenue of $2,462.6 million, missing the Zacks Consensus Estimate of $2,786 by 11.6%. Revenues were also down 9.2% from the year-ago tally of $2,713 million.
Segment Results
Utility, Parent & Other: The segment’s quarterly earnings of $1.18 per share increased from 87 cents reported in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported operating earnings of $1.34 per share for the second quarter. In the corresponding quarter last year, it had reported a loss of 2 cents.
As of Jun 30, 2016, the company had cash and cash equivalents of $996 million, compared with $910 million as of Jun 30, 2015.
Total debt as of Jun 30, 2016 was $14.8 billion, compared with $13.9 billion as of Jun 30, 2015.
For second-quarter 2016, cash from operating activities was $719.3 million, down from $727.4 million in the prior-year quarter.
Guidance
For 2016, Entergy provided its operational earnings per share guidance in the $6.60−$7.40 band, compared to the prior guidance of $4.95−$5.75.
The Utility, Parent & Other’s adjusted earnings are still expected in the range of $4.20 to $4.50 per share.
Peer Releases
DTE Energy Company (DTE - Free Report) reported second-quarter 2016 operating earnings per share of 98 cents, beating the Zacks Consensus Estimate of 90 cents by 8.9%. Reported earnings were also up 28.9% from the year-ago figure of 76 cents.
Public Service Enterprise Group Inc. (PEG - Free Report) reported second-quarter 2016 operating earnings of 57 cents per share, in line with both the Zacks Consensus Estimate and with the year-ago figure. On a GAAP basis, quarterly earnings were 37 cents per share, down from 68 cents a year ago.
PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share of 66 cents in the second quarter of 2016 lagged the Zacks Consensus Estimate of 94 cents by 29.8%. Earnings also declined 27.5% from 91 cents reported in the year-ago quarter.
Zacks Rank
Entergy currently has a Zacks Rank #3 (Hold).
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Entergy Corporation (ETR) Tops Q2 Earnings, Revises View
Entergy Corporation (ETR - Free Report) reported second-quarter 2016 operational earnings of $3.11 per share, beating the Zacks Consensus Estimate of $1.03 by 201.9%. The reported number also surged 274.7% from 83 cents per share reported in the year-ago period.
On a GAAP basis, Entergy reported second-quarter 2016 earnings of $3.16 per share, up 280.7% year over year, which includes special item adjustments of 5 cents.
Total Revenue
In the quarter under review, Entergy reported total revenue of $2,462.6 million, missing the Zacks Consensus Estimate of $2,786 by 11.6%. Revenues were also down 9.2% from the year-ago tally of $2,713 million.
Segment Results
Utility, Parent & Other: The segment’s quarterly earnings of $1.18 per share increased from 87 cents reported in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported operating earnings of $1.34 per share for the second quarter. In the corresponding quarter last year, it had reported a loss of 2 cents.
ENTERGY CORP Price, Consensus and EPS Surprise
ENTERGY CORP Price, Consensus and EPS Surprise | ENTERGY CORP Quote
Financial Highlights
As of Jun 30, 2016, the company had cash and cash equivalents of $996 million, compared with $910 million as of Jun 30, 2015.
Total debt as of Jun 30, 2016 was $14.8 billion, compared with $13.9 billion as of Jun 30, 2015.
For second-quarter 2016, cash from operating activities was $719.3 million, down from $727.4 million in the prior-year quarter.
Guidance
For 2016, Entergy provided its operational earnings per share guidance in the $6.60−$7.40 band, compared to the prior guidance of $4.95−$5.75.
The Utility, Parent & Other’s adjusted earnings are still expected in the range of $4.20 to $4.50 per share.
Peer Releases
DTE Energy Company (DTE - Free Report) reported second-quarter 2016 operating earnings per share of 98 cents, beating the Zacks Consensus Estimate of 90 cents by 8.9%. Reported earnings were also up 28.9% from the year-ago figure of 76 cents.
Public Service Enterprise Group Inc. (PEG - Free Report) reported second-quarter 2016 operating earnings of 57 cents per share, in line with both the Zacks Consensus Estimate and with the year-ago figure. On a GAAP basis, quarterly earnings were 37 cents per share, down from 68 cents a year ago.
PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share of 66 cents in the second quarter of 2016 lagged the Zacks Consensus Estimate of 94 cents by 29.8%. Earnings also declined 27.5% from 91 cents reported in the year-ago quarter.
Zacks Rank
Entergy currently has a Zacks Rank #3 (Hold).
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 >>