Entergy Corporation (ETR - Free Report) reported first-quarter 2020 adjusted earnings of $1.14 per share, which exceeded the Zacks Consensus Estimate of 94 cents by 21.3%. Moreover, the reported figure soared 39% from 82 cents registered in the year-ago quarter.
Excluding the effects of special items, the company registered GAAP earnings of 59 cents per share compared with $1.32 a year ago.
Total Revenues
In the quarter under review, total revenues came in at $2,427.2 million, which lagged the Zacks Consensus Estimate of $2,679 million by 9.4%. Also, the top line declined 7% from the year-ago quarter’s $2,609.6 million. The year-over-year decline is primarily attributable to lower electric and natural gas sales.
Segment Results
Utility: The segment’s quarterly adjusted earnings came in at $1.59 per share compared with $1.20 in the prior-year quarter. This was led by higher nuclear insurance refunds as well as lower fossil and nuclear-generation spending.
Parent & Other: The segment incurred adjusted loss of 45 cents per share compared with a loss of 38 cents in the prior-year quarter, primarily due to higher income tax expenses resulting from the IRS settlement related to Hurricane Isaac Act 55 financing.
Entergy Wholesale Commodities (EWC): The segment incurred a loss of 55 cents per share on an as-reported basis against earnings of 50 cents registered in the year-ago quarter. The decline was led by losses on decommissioning trust funds and lower nuclear pricing along with lower other O&M expenses due to the shutdown of the Pilgrim Nuclear Power Station.
Highlights of the Release
Operating expenses in the quarter summed $2,027.4 million, down 12.8% from $2,326.3 million in the year-ago quarter.
Interest expenses were $205.6 million, up 2.3% from $201 million in the year-ago quarter.
In the reported quarter, total retail customers served by the company grew 0.6% to nearly 2.92 million.
Entergy Corporation Price, Consensus and EPS Surprise
Financial Highlights
As of Mar 31, 2020, Entergy had cash and cash equivalents of $955.8 million compared with $425.7 million as of Dec 31, 2019.
Long-term debt was $16.94 billion as of Mar 31, 2020, compared with $17.1 billion as of Dec 31, 2019.
At the end of the first three months of 2020, the company generated cash from operating activities of $659.1 million, up from $501.2 million in the prior-year quarter.
Guidance
For 2020, Entergy affirms adjusted EPS of $5.45-$5.75 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.52, below the midpoint of the company’s guided range.
Zacks Rank
Entergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.
NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2020 adjusted EPS of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.
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Entergy Corporation (ETR - Free Report) reported first-quarter 2020 adjusted earnings of $1.14 per share, which exceeded the Zacks Consensus Estimate of 94 cents by 21.3%. Moreover, the reported figure soared 39% from 82 cents registered in the year-ago quarter.
Excluding the effects of special items, the company registered GAAP earnings of 59 cents per share compared with $1.32 a year ago.
Total Revenues
In the quarter under review, total revenues came in at $2,427.2 million, which lagged the Zacks Consensus Estimate of $2,679 million by 9.4%. Also, the top line declined 7% from the year-ago quarter’s $2,609.6 million. The year-over-year decline is primarily attributable to lower electric and natural gas sales.
Segment Results
Utility: The segment’s quarterly adjusted earnings came in at $1.59 per share compared with $1.20 in the prior-year quarter. This was led by higher nuclear insurance refunds as well as lower fossil and nuclear-generation spending.
Parent & Other: The segment incurred adjusted loss of 45 cents per share compared with a loss of 38 cents in the prior-year quarter, primarily due to higher income tax expenses resulting from the IRS settlement related to Hurricane Isaac Act 55 financing.
Entergy Wholesale Commodities (EWC): The segment incurred a loss of 55 cents per share on an as-reported basis against earnings of 50 cents registered in the year-ago quarter. The decline was led by losses on decommissioning trust funds and lower nuclear pricing along with lower other O&M expenses due to the shutdown of the Pilgrim Nuclear Power Station.
Highlights of the Release
Operating expenses in the quarter summed $2,027.4 million, down 12.8% from $2,326.3 million in the year-ago quarter.
Interest expenses were $205.6 million, up 2.3% from $201 million in the year-ago quarter.
In the reported quarter, total retail customers served by the company grew 0.6% to nearly 2.92 million.
Entergy Corporation Price, Consensus and EPS Surprise
Financial Highlights
As of Mar 31, 2020, Entergy had cash and cash equivalents of $955.8 million compared with $425.7 million as of Dec 31, 2019.
Long-term debt was $16.94 billion as of Mar 31, 2020, compared with $17.1 billion as of Dec 31, 2019.
At the end of the first three months of 2020, the company generated cash from operating activities of $659.1 million, up from $501.2 million in the prior-year quarter.
Guidance
For 2020, Entergy affirms adjusted EPS of $5.45-$5.75 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.52, below the midpoint of the company’s guided range.
Zacks Rank
Entergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.
NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2020 adjusted EPS of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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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