Entergy Corporation Earnings: Three Quarters of Revenue Growth Snapped

Falling revenue did not prevent S&P 500 (NYSE:SPY) component Entergy Corporation (NYSE:ETR) from reporting a profit boost in the first quarter. Entergy Corporation is an energy company involved in electric power production and retail electric distribution operations.

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Entergy Earnings Cheat Sheet for the First Quarter

Results: Net income for Entergy Corporation rose to $253.7 million ($1.38/share) vs. $218.8 million ($1.12/share) in the same quarter a year earlier. A rise of 15.9% from the year earlier quarter.

Revenue: Fell 7.9% to $2.54 billion YoY.

Actual vs. Wall St. Expectations: ETR beat the mean analyst estimate of $1.33/share. Estimates ranged from $1.18 per share to $1.40 per share.

Quoting Management: “Results for the quarter reflect the continued benefits of constructive regulatory decisions,” said J. Wayne Leonard, Entergy’s chairman and chief executive officer. “The quarter also brought challenges to the business climate for the nuclear industry with the tragic events at the Fukushima Daiichi plant in Japan. The U.S. Nuclear industry adheres to the most diligent regulations and emergency preparedness through extensive common mode failure analysis and superior defense in depth through design and training and preparation. As always, we will continue our intense focus on safety and operational excellence in all aspects of our business. Whatever learning may come from the Fukushima event will be quickly applied to our own emergency preparation and processes.”

Key Stats:

A year-over-year revenue decrease last quarter snaps a streak of three consecutive quarters of revenue increases. Revenue rose 1.4% in the fourth quarter of the last fiscal year, 13.5%in the third quarter of the last fiscal year and 13.6% in the second quarter of the last fiscal year.

Net income has increased 5.3% year over year on average across the last five quarters. The biggest gain came in the second quarter of the last fiscal year, when income climbed 38.2% from the year earlier quarter.

Competitors to Watch: Exelon Corporation (NYSE:EXC), The Southern Company (NYSE:SO), El Paso Electric Company (NYSE:EE), NextEra Energy, Inc. (NYSE:NEE), American Electric Power Co., Inc. (NYSE:AEP), Cleco Corporation (NYSE:CNL), PPL Corporation (NYSE:PPL), OGE Energy Corp. (NYSE:OGE), Progress Energy, Inc. (NYSE:PGN), and TECO Energy, Inc. (NYSE:TE).

Today’s Performance: Shares of ETR closed down 0.37%.

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