) 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.
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).
CMS ENERGY (CMS): Free Stock Analysis Report
ENTERGY CORP (ETR): Free Stock Analysis
EXELON CORP (EXC): Free Stock Analysis Report
INTEGRYS ENERGY (TEG): Free Stock Analysis
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