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Entergy Corporation (NYSE:ETR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares closed down 0.75%.
Entergy Corporation Earnings Cheat Sheet
Results: Net income increased 91.84% to $307 million ($1.72 per diluted share) in the quarter versus a net gain of $160.03 million in the year-earlier quarter.
Revenue: Decreased 2.13% to $2.44 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Entergy Corporation reported adjusted net income of $1.72 per share. By that measure, the company beat the mean analyst estimate of $1.4. It missed the average revenue estimate of $3.13 billion.
Quoting Management: “In 2012, Entergy’s management team made significant progress on several key fronts,” said Leo Denault, Entergy’s chairman and chief executive officer. “Looking ahead to 2013, we will remain focused on safety and operational excellence in all aspects of our business as well as successful execution of key initiatives such as our effort to join the Midwest Independent Transmission System Operator, a regional transmission organization, and our proposal to spin off and merge the transmission business with ITC Holdings Corp., working every day to create sustainable value for all of our stakeholders.”
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