Entergy misses third-quarter profit forecasts
NEW ORLEANS - Entergy Corp. on Tuesday reported third-quarter earnings of $230 million.
The New Orleans-based company said it had profit of $1.27 per share. Earnings, adjusted for non-recurring costs, came to $1.68 per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The power company posted revenue of $3.46 billion in the period.
Entergy expects full-year earnings in the range of $5.55 to $6.75 per share.
Entergy shares have increased 33 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 9 percent. The stock has climbed 29 percent in the last 12 months.
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