) posted fourth-quarter 2013 operational earnings of $1.00 per
share, beating the Zacks Consensus Estimate by 6.4%. Quarterly
earnings decreased 41.9% year over year, primarily due to higher
total operating expenses and an increase in shares outstanding.
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Excluding special items of 18 cents, the company's quarterly GAAP
earnings were 82 cents per share. The result was down 50.6% year
For 2013, Entergy's operational earnings were $5.36 per share,
surpassing the Zacks Consensus Estimate by 3.3%. Annual earnings
were 14% lower than the year-ago level.
The company's GAAP earnings were $3.99 per share in 2013 compared
with the prior-year figure of $4.76 per share.
In the quarter under review, Entergy's total operating revenues
of $2.7 billion surpassed the Zacks Consensus Estimate by 11.9%.
Reported revenues surged 10.5% year over year, primarily due to
improvement in revenues from Electric (up 15.3% year over year)
and Natural gas (up 9.6% year over year) divisions. This was
partially offset by lower contribution from Competitive
businesses (down 5% year over year).
The company's annual total operating revenues were $11.4 billion,
beating the Zacks Consensus Estimate by 0.8%. Reported revenues
increased 10.6% from the prior-year figure.
: The segment's quarterly earnings were $161.2 million on an
as-reported basis and $153.7 million on an operational basis
compared with $279.7 million on as-reported and $290.5 million on
operational basis in fourth-quarter 2012. The year-over-year
decrease was largely due to an increase in income tax expense and
non-fuel operation and maintenance expenses, and higher
depreciation expenses and other taxes.
Entergy Wholesale Commodities
: Entergy Wholesale Commodities' as-reported earnings were $42.1
million while operational earnings were $85.6 million for
fourth-quarter 2013. During the corresponding quarter last year,
earnings on an as-reported as well as operational basis were
$58.8 million. The improvement in operational earnings was
primarily due to a rise in other income and lower income tax
Parent & Other
: In the reported quarter, the unit reported a loss of $56.3
million on as-reported basis and a loss of $60.0 million as an
operational basis. This compares to a loss of $42.3 million on an
as-reported and operational basis in the year-ago quarter. The
sale of the company's District Energy business negatively
impacted quarterly results.
As of Dec 31, 2013, Entergy's total cash and cash equivalents
were $0.7 billion compared with $0.5 billion at the end of 2012.
Long-term debt as of Dec 31, 2013 totaled $12.1 billion, up from
$11.9 billion as of Dec 31, 2012.
For 2013, net cash flows provided by operating activities were
$0.99 billion versus $0.7 billion in the year-ago comparable
Entergy's capital expenditure was $0.5 billion in 2013 compared
with $0.8 billion a year ago.
Entergy maintained its 2014 earnings guidance in the range of
$4.60 - $5.40 per share on an operational basis.
) announced fourth-quarter 2013 adjusted operating earnings of 50
cents per share, missing the Zacks Consensus Estimate by 5.7%.
Entergy currently has a Zacks Rank #3 (Hold). However, some
better-ranked stocks in the same industry include
Integrys Energy Group, Inc.
CMS Energy Corp.
), each with Zacks Rank #2 (Buy).