Businessweek

Entergy Corporation Presents at Citi's Global Energy and Utilities Conference, May-16-2013 08:00 AM. Venue: Hyatt Regency, One Avenue De Lafayette, Boston, Massachusetts, United States.

Entergy Corporation reported unaudited consolidated and parent and other earnings results for the first quarter ended March 31, 2013. For the quarter, the consolidated company reported total operating revenues were $2,608,874,000 compared to $2,383,659,000 for the same period a year ago. Operating income was $394,045,000 compared to operating loss of $56,857,000 for the same period a year ago. Income before income taxes was $283,518,000 compared to loss before income taxes of $146,902,000 for the same period a year ago. Net income attributable to Entergy Corporation was $161,400,000 or $0.90 per diluted share compared to net loss attributable to Entergy Corporation of $151,683,000 or $0.86 per diluted share for the same period a year ago. Adjusted EBITDA was $194 million against adjusted LBITDA of $212 million a year ago. Operational adjusted EBITDA was $194 million against $144 million a year ago. Parent & other reported a loss of $44.2 million, or 25 cents per share, on an as-reported basis and an operational basis for first quarter 2013. This compares to a loss of $38.6 million, or 22 cents per share, on an as-reported basis and $37.2 million, or 21 cents per share, on an operational basis in first quarter 2012. The decrease was attributable to several individually insignificant items. Entergy updated its 2013 earnings guidance range to be $4.56 to $5.36 per share on an as-reported basis and affirmed operational guidance of $4.60 to $5.40 per share. The revised as-reported guidance range reflects special items recorded in the current quarter for expenses in connection with the proposed spin-off and merger of Entergy's transmission business with ITC. As-reported earnings guidance for 2013 does not reflect potential future expenses for the proposed spin-merge of the transmission business with ITC. The as-reported 2013 guidance will be updated throughout the year as these transaction-related expenses are incurred.

Entergy Corporation provided earnings guidance for the first quarter of 2013. For the first quarter of 2013, the company expects as-reported earnings of approximately $0.89 per share and operational earnings of approximately $0.93 per share. Results for first quarter of 2012 were a loss of $0.86 per share on an as-reported basis and earnings of $0.44 per share on an operational basis. The increase in first quarter 2013 earnings was driven by higher results at Utility and Entergy Wholesale Commodities, which was partially offset by lower results at Parent and Other. The company re-affirmed earnings guidance for the year 2013. The company affirmed it’s previously issued 2013 operational earnings guidance to be in the range of $4.60 to $5.40 per share. The revised 2013 as-reported guidance of $4.56 to $5.36 per share reflects the first quarter special item for expenses associated with the proposed spin-off and merger of the transmission business with ITC noted above.

The Board of Directors of Entergy Corporation has declared a quarterly dividend of 83 cents per common share. The payment date is June 3, 2013, to stockholders of record on May 9, 2013.

Entergy Corporation, Annual General Meeting, May 03, 2013., at 10:00 Central Standard Time. Location: The Peabody Hotel. Agenda: To approve election of the director nominees identified in the Proxy Statement that accompanies this notice; to ratify the appointment of Deloitte & Touche LLP as independent registered public accountants for 2013; to approve an advisory vote to approve named executive officer compensation; to approve two shareholder proposals if properly presented at the meeting; and to approve such other business as may properly come before the meeting.