Last $75.11 USD
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As of 8:04 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

entergy corp (ETR) Key Developments

Entergy Corporation Presents at Goldman Sachs' Power, Utilities, MLP and Pipeline Conference, Aug-12-2014 08:45 AM

Entergy Corporation Presents at Goldman Sachs' Power, Utilities, MLP and Pipeline Conference, Aug-12-2014 08:45 AM. Venue: Conrad Hotel, New York, New York, United States. Speakers: Andrew S. Marsh, Chief Financial Officer and Executive Vice President.

Entergy Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for 2014

Entergy Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company’s total operating revenue was $2,996.650 million against $2,738.208 million last year. Operating income was $454.477 million against $346.512 million last year. Income before income taxes was $323.024 million against $241.168 million last year. Net income attributable to Entergy Corporation was $189.383 million or $1.05 per diluted share against $163.723 million or $0.92 per diluted share last year. Consolidated operational earnings were $1.11 per share compared with $1.01 per share in the second quarter of 2013. Operating cash flow was $761 million in the current quarter, up $189 million from 2013. Higher net revenue from EWC was the large driver. For the six months, the company’s total revenue was $6,205.493 million against $5,347.082 million last year. Operating income was $1,194.354 million against $740.557 million last year. Income before income taxes was $946.043 million against $524.686 million last year. Net income attributable to Entergy Corporation was $590.557 million or $3.29 per diluted share against $325.123 million or $1.82 per diluted share last year. Consolidated operational earnings were $3.40 per share compared with $1.95 per share in the second quarter of 2013. The company affirmed its 2014 operational earnings guidance range of $5.55 to $6.75 per share. Capital expenditure expects at $2,367 million.

Entergy Corporation Declares Quarterly Dividend, Payable on Sept. 2, 2014

The Board of Directors of Entergy Corporation has declared a quarterly dividend of 83 cents per common share. The payment date is Sept. 2, 2014, to stockholders of record on Aug. 14, 2014.

Entergy Corporation Provides Earnings Guidance for the second quarter of 2014

Entergy Corporation Provided Earnings Guidance for the second quarter of 2014. Entergy Corporation indicated that it expects second quarter 2014 as-reported earnings of approximately $1.04 per share and operational earnings of approximately $1.10 per share. Results for second quarter 2013 were $0.92 per share on an as-reported basis and $1.01 per share on an operational basis. The increase in earnings reflected top line growth, particularly at Entergy Wholesale Commodities, the wholesale generation business, where both higher volume and prices contributed. Entergy also affirmed its 2014 operational earnings guidance range of $5.55 to $6.75 per share. The second quarter 2014 operational earnings improvement was due to higher earnings at Entergy Wholesale Commodities. Operational results for Utility and Parent & Other largely matched the prior period. On a consolidated basis, the preliminary estimate for the effective income tax rate for operational earnings in second quarter 2014 increased to approximately 40 percent. The quarter-over-quarter operational earnings increase for Entergy Wholesale Commodities was attributable to increased net revenue. Nuclear sales volume was higher due to a lack of refueling outages and reductions in unplanned outages compared to second quarter 2013. Higher power prices for the nuclear fleet also contributed. Increased depreciation and income tax expenses partially offset these items.

Justice Department Files Lawsuit Against Entergy Corporation Alleging Violations of Federal Law and Executive Order by Federal Contractor

The Justice Department announced the filing of a lawsuit on July 17, 2014 against Entergy Corporation for violating Executive Order 11246, Section 503 of the Rehabilitation Act of 1973 and the Vietnam Era Veterans Readjustment Assistance Act of 1974. The lawsuit alleges that the defendant violated these laws and the executive order when it refused to comply with federal contractor requirements to submit proof of required affirmative action programs to the Department of Labors Office of Federal Contract Compliance Programs (OFCCP). Because Entergy has refused to supply documentation and cooperate with auditing attempts, OFCCP has been unable to determine if Entergy is in compliance with its affirmative action obligations. Government contractors that choose to accept federal funds also agree to abide by laws and regulations aimed at preventing employment discrimination, said Acting Assistant Attorney General Jocelyn Samuels for the Civil Rights Division. When a government contractor, like Entergy, refuses to adhere to the obligations it accepted as a federal contractor, that refusal undermines the public trust that taxpayers expect in ensuring that public funding is used in a manner that complies with both federal law and agency regulations. Entergy, as a federal contractor, is prohibited from discriminating against employees and job applicants because of race, color, sex, religion, national origin, disability or protected veteran status. The company is also required to take affirmative action to employ qualified women, minorities, people with disabilities and protected veterans. The complaint, filed in the U.S. District Court for the Eastern District of Louisiana, alleges that since May 2012, Entergy has refused OFCCPs repeated requests to turn over its written affirmative action programs and other records requested as part of the routine compliance review of 11 Entergy locations in Texas, Mississippi and Louisiana.

 

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