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Entergy Corporation (ETR - Free Report) reported second-quarter 2017 operational earnings of $3.11 per share, beating the Zacks Consensus Estimate of $1.20 by 159.2%. However, the reported number was in line with the year-ago figure.
On a GAAP basis, Entergy posted earnings of $2.27 per share compared with $3.16 a year ago. The difference between GAAP and operating earnings in the reported quarter was due to effects of special items of 84 cents.
Total Revenue
In the quarter under review, the company reported total revenue of $2,618.6 million, beating the Zacks Consensus Estimate of $2,444 by 7.1%. It was also up 6.3% from the year-ago figure of $2,462.6 million.
Segment Results
Utility, Parent & Other: The segment’s quarterly earnings were $1.03 per share compared with $1.77 in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported operating earnings of $2.08 per share compared with $1.34 in the year-ago quarter.
Highlights of the Release
Operating expenses in the quarter were $2.48 billion, up 22.5% from $2.02 billion spent in the year-ago quarter. The year-over-year increase was primarily owing to higher fuel, fuel related expenses, and gas purchased for resale, purchased power, and other operation and maintenance expenses, asset write-offs, impairments and related charges.
Interest expenses were $173.4 million, down 2.4% from the year-ago quarter.
In the reported quarter, total retail customers served by the company increased 0.8% to nearly 2.9 million.
Entergy Corporation Price, Consensus and EPS Surprise
DTE Energy Company (DTE - Free Report) reported second-quarter 2017 operating earnings per share (EPS) of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
WEC Energy Group (WEC - Free Report) reported second-quarter 2017 adjusted earnings of 63 cents per share, surpassing the Zacks Consensus Estimate of 59 cents by 6.8% and the year-ago figure of 57 cents by 10.5%.
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Entergy (ETR) Beats Q2 Earnings Estimates, Lifts '17 View
Entergy Corporation (ETR - Free Report) reported second-quarter 2017 operational earnings of $3.11 per share, beating the Zacks Consensus Estimate of $1.20 by 159.2%. However, the reported number was in line with the year-ago figure.
On a GAAP basis, Entergy posted earnings of $2.27 per share compared with $3.16 a year ago. The difference between GAAP and operating earnings in the reported quarter was due to effects of special items of 84 cents.
Total Revenue
In the quarter under review, the company reported total revenue of $2,618.6 million, beating the Zacks Consensus Estimate of $2,444 by 7.1%. It was also up 6.3% from the year-ago figure of $2,462.6 million.
Segment Results
Utility, Parent & Other: The segment’s quarterly earnings were $1.03 per share compared with $1.77 in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported operating earnings of $2.08 per share compared with $1.34 in the year-ago quarter.
Highlights of the Release
Operating expenses in the quarter were $2.48 billion, up 22.5% from $2.02 billion spent in the year-ago quarter. The year-over-year increase was primarily owing to higher fuel, fuel related expenses, and gas purchased for resale, purchased power, and other operation and maintenance expenses, asset write-offs, impairments and related charges.
Interest expenses were $173.4 million, down 2.4% from the year-ago quarter.
In the reported quarter, total retail customers served by the company increased 0.8% 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 Jun 30, the company had cash and cash equivalents of $934.5 million compared with $1,187.8 million as of Dec 31, 2016.
Total debt, as of Jun 30, was $14.3 billion compared with $14.5 billion as of Dec 31, 2016.
For second-quarter 2017, cash from operating activities was $290.3 million, down from $719.3 million in the prior-year quarter.
Guidance
For 2017, Entergy raised its operational earnings guidance per share in the band of $6.80−$7.40 compared with prior guidance of $4.75−$5.35.
The Utility, Parent & Other’s adjusted earnings are still expected in the range of $4.25–$4.55 per share.
Zacks Rank
Entergy currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
DTE Energy Company (DTE - Free Report) reported second-quarter 2017 operating earnings per share (EPS) of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
WEC Energy Group (WEC - Free Report) reported second-quarter 2017 adjusted earnings of 63 cents per share, surpassing the Zacks Consensus Estimate of 59 cents by 6.8% and the year-ago figure of 57 cents by 10.5%.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>