Entergy reports $66 million loss in fourth quarter, still beats Wall Street expectations
- February 21, 2019
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Feb. 20-- Feb. 20--Entergy Corp. on Wednesday reported a fourth-quarter loss of $66 million, or 36 cents per share, compared to a $479 million loss, or $2.66 per share, for the same period of 2017.
Earnings, adjusted for non-recurring costs, were $110 million, or 60 cents per share, compared to $138 million, or 76 cents per share, a year earlier.
The New Orleans-based power company beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
For the full year, the company reported earnings of $849 million, or $4.63 per share, on an as-reported basis and $1.3 billion, or $7.31 per share, on an operational basis, compared to 2017's $412 million, or $2.28 per share, and $1.3 billion, or $7.20 per share, on an operational basis.
Fourth-quarter revenue was $2.51 billion. Annual revenue was reported as $11.01 billion.
Entergy's earnings guidance for 2019 adjusted earnings is in a range of $5.10 to $5.50 per share.
Entergy Chairman and Chief Executive Officer Leo Denault said the company is on track to achieve its long-term goals and in 2018 met major milestones in its transition to a pure-play utility.
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