Entergy Corporation (NYSE:ETR) reported fourth-quarter 2018 adjusted earnings of 60 cents per share, which surpassed the Zacks Consensus Estimate of 48 cents by 25%. However, the reported figure decreased 21.1% from 76 cents registered in the year-ago quarter.
Excluding the effects of special items, the company incurred GAAP loss of 36 cents per share compared with a loss of $2.26 per share a year ago.
For 2018, the company reported adjusted earnings of $7.31 per share, which outpaced the Zacks Consensus Estimate of $7.15 by 2.2%. The bottom line also increased 1.5% from $7.20 in the prior year.
Total Revenues
In the quarter under review, total revenues came in at $2,512.5 million, which exceeded the Zacks Consensus Estimate of $1,961 million by 28.1%. However, the top line fell 4.2% from the year-ago quarter’s $2,623.8 million.
For 2018, the company’s total revenues amounted to $11.01 billion, which surpassed the Zacks Consensus Estimate of $10.74 billion by 2.4%.
However, the reported figure slipped 0.6% from the year-ago quarter’s $11.07 billion.
Segment Results
Utility: The segment’s quarterly adjusted earnings came in at $1.91 per share compared with 74 cents in the prior-year quarter.
Parent & Other: The segment incurred adjusted loss of 44 cents per share compared with a loss of 33 cents in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment incurred adjusted loss of 87 cents per share against earnings of 35 cents registered in the year-ago quarter.
Highlights of the Release
Operating expenses in the quarter summed $2.74 billion, up 14.9% from $2.39 billion in the year-ago quarter.
Interest expenses were $197.8 million, up 7.3% from $184.4 million in the year-ago quarter.
In the reported quarter, total retail customers served by the company increased 0.6% to nearly 2.9 million.
Financial Highlights
As of Dec 31, 2018, the company had cash and cash equivalents of $481million compared with $781 million as of Dec 31, 2017.
At the end of 2018, the company generated cash from operating activities of $2.39 billion, down from $2.62 billion in the prior year.
Guidance
For 2019, Entergy expects its operational earnings to remain in the band of $5.10-$5.50 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.35, higher than the midpoint of the company’s guided range.
Zacks Rank
Entergy 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
Ameren Corporation’s (NYSE:AEE) fourth-quarter 2018 earnings of 28 cents per share from continuing operations missed the Zacks Consensus Estimate of 32 cents by 12.5%.
American Electric Power Co. (NYSE:AEP) reported fourth-quarter 2018 operating earnings of 72 cents per share, in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. (NYSE:NEE) reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which fell short of the Zacks Consensus Estimate of $1.51 by 1.3%.
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Ameren Corporation (AEE): Free Stock Analysis Report
NextEra Energy, Inc. (NEE): Free Stock Analysis Report
American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
Entergy Corporation (ETR): Free Stock Analysis Report
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