Entergy Corporation (ETR - Free Report) reported second-quarter 2018 adjusted earnings of $1.79 per share, which surpassed the Zacks Consensus Estimate of $1.26 by 42.1%. However, the reported figure declined 42.4% from $3.11 in the year-ago quarter.
Excluding a one-time tax benefit of 31 cents, the company’s GAAP earnings came in at $1.34 per share compared with $2.27 a year ago.
Revenues
In the quarter under review, revenues totaled $2.67 billion, which exceeded the Zacks Consensus Estimate of $2.55 billion by 4.5%. The top-line figure reflected year-over-year growth of 1.9% from $2.62 billion in the first quarter. The upside was driven by higher sales volume.
Segment Results
Utility: The segment’s quarterly adjusted earnings were $2.05 per share compared with $1.35 in the prior-year quarter.
Parent & Other: The segment incurred adjusted loss of 40 cents per share compared with 32 cents of loss in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported adjusted earnings of 14 cents per share compared with $2.08 in the year-ago quarter.
Highlights of the Release
Interest expenses were $154.6 million in second-quarter 2018, up 6.4% from $145.2 million in the prior-year quarter.
In the reported quarter, total retail customers served by the company increased 0.5% to 2.9 million.
Financial Highlights
As of Jun 30, 2018, Entergy had cash and cash equivalents of $812.8 million compared with $781 million as of Dec 31, 2017.
At the end of second quarter, the company generated cash from operating activities of $522.5 million, up from $290.3 million in the prior-year quarter.
Guidance
For 2018, Entergy reaffirmed its operational earnings guidance in the band of $6.25-$6.85 per share.
The Utility, Parent & Other adjusted earnings are also expected to be in the range of $4.50-$4.90 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.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which outpaced the Zacks Consensus Estimate of $2.07 by 1.93%. Earnings were up 13.4% on a year-over-year basis.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2018 adjusted earnings per share of 48 cents.
DTE Energy (DTE - Free Report) reported second-quarter 2018 operating earnings per share of $1.36, which surpassed the Zacks Consensus Estimate of $1.11 by 22.5%.
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Entergy Corporation (ETR - Free Report) reported second-quarter 2018 adjusted earnings of $1.79 per share, which surpassed the Zacks Consensus Estimate of $1.26 by 42.1%. However, the reported figure declined 42.4% from $3.11 in the year-ago quarter.
Excluding a one-time tax benefit of 31 cents, the company’s GAAP earnings came in at $1.34 per share compared with $2.27 a year ago.
Revenues
In the quarter under review, revenues totaled $2.67 billion, which exceeded the Zacks Consensus Estimate of $2.55 billion by 4.5%. The top-line figure reflected year-over-year growth of 1.9% from $2.62 billion in the first quarter. The upside was driven by higher sales volume.
Segment Results
Utility: The segment’s quarterly adjusted earnings were $2.05 per share compared with $1.35 in the prior-year quarter.
Parent & Other: The segment incurred adjusted loss of 40 cents per share compared with 32 cents of loss in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment reported adjusted earnings of 14 cents per share compared with $2.08 in the year-ago quarter.
Highlights of the Release
Interest expenses were $154.6 million in second-quarter 2018, up 6.4% from $145.2 million in the prior-year quarter.
In the reported quarter, total retail customers served by the company increased 0.5% to 2.9 million.
Financial Highlights
As of Jun 30, 2018, Entergy had cash and cash equivalents of $812.8 million compared with $781 million as of Dec 31, 2017.
At the end of second quarter, the company generated cash from operating activities of $522.5 million, up from $290.3 million in the prior-year quarter.
Guidance
For 2018, Entergy reaffirmed its operational earnings guidance in the band of $6.25-$6.85 per share.
The Utility, Parent & Other adjusted earnings are also expected to be in the range of $4.50-$4.90 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.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which outpaced the Zacks Consensus Estimate of $2.07 by 1.93%. Earnings were up 13.4% on a year-over-year basis.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2018 adjusted earnings per share of 48 cents.
DTE Energy (DTE - Free Report) reported second-quarter 2018 operating earnings per share of $1.36, which surpassed the Zacks Consensus Estimate of $1.11 by 22.5%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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