NEW ORLEANS (AP) — Entergy expects its third-quarter earnings to come in below its prior-year results and Wall Street's view, partly because of a higher income tax expense.
The utility said Monday that the year-ago period also benefited from an Internal Revenue Service-related settlement.
Entergy anticipates third-quarter adjusted earnings of about $1.94 per share. A year earlier its earnings were $3.53 per share.
Analysts polled by FactSet predict $2.11 per share.
The company said earnings fell at both its utility and wholesale commodities segments during the quarter as they dealt with some increased expenses. The wholesale commodities unit also faced lower pricing for the nuclear fleet.
Entergy Corp. still expects full-year adjusted earnings of $4.85 to $5.65 per share.
Wall Street foresees $5.45 per share.
Entergy delivers electricity to customers in Arkansas, Louisiana, Mississippi and Texas.
Entergy shares finished at $69.95 on Friday. They are up 11 percent from a 52-week low of $62.97 in mid-May. They traded as high as $74.50 in late July.
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