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UPDATE: Entergy 4th-Quarter Profit Off; Adjusted Net Exceeds Estimates
01/29 11:51 am (ON)
Story 0571 (ETR)


By Jim Jelter

SAN FRANCISCO (Dow Jones) - Entergy Corp., the New Orleans power company, reported Tuesday that fourth-quarter profit dropped 28%, reflecting several year-earlier gains, including asset sales and a tax settlement,

Earnings fell to $193.9 million, or 96 cents a share, from $268.3 million, or $1.27, in the year-earlier period.

Excluding one-time items, earnings from operations totaled $225.9 million, or $1.12 a share, up from $166.9 million, or 79 cents.

Revenue rose 10% to $2.73 billion from $2.48 billion.

Analysts surveyed by Thomson Financial had predicted earnings of $1.06 a share on $2.92 billion in revenue.

Entergy, (ETR) which operates the second-biggest U.S. fleet of nuclear-power stations, affirmed its 2008 earnings outlook of $6.50 to $6.90 a share. The forecast excludes costs related to the separation of the company's non-utility nuclear business and a new nuclear-services joint venture.

Entergy shares were recently trading little changed. The stock is up 16% over the past year, compared with a 10% gain for the Dow Jones Utilities Average (26099800)

(END) Dow Jones Newswires