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Entergy's (ETR) Q2 Earnings Beat Estimates, Revenues Fall Y/Y
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Entergy Corporation (ETR - Free Report) reported second-quarter 2020 adjusted earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.23 by 11.4%. Moreover, the bottom line improved 1.5% from $1.35 per share in the year-ago quarter.
Excluding the effects of special items, the company registered GAAP earnings of $1.79 per share compared with $1.22 a year ago.
Total Revenues
In the quarter under review, total revenues came in at $2,412.8 million, which lagged the Zacks Consensus Estimate of $2,806 million by 14%. Also, the top line fell 9.5% from the year-ago quarter’s $2,666.2 million.
Segment Results
Utility: The segment’s quarterly adjusted earnings came in at $1.71 per share compared with $1.70 in the prior-year quarter.
Parent & Other: The segment incurred an adjusted loss of 34 cents per share compared with a loss of 35 cents in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment registered earnings of 42 cents per share on an as-reported basis against a loss of 13 cents in the year-ago quarter.
Highlights of the Release
Operating expenses in the quarter summed $1,973.5 million, down 15.2% from $2,327.4 million in the year-ago quarter.
Interest expenses were $216.8 million, up 7.8% from $201.1 million in the year-ago quarter.
In the reported quarter, total retail customers served by the company increased 1.1% to nearly 2.94 million.
Entergy Corporation Price, Consensus and EPS Surprise
As of Jun 30, 2020, Entergy had cash and cash equivalents of $935.5 million compared with $425.7 million as of Dec 31, 2019.
Long-term debt was $18.28 billion as of Jun 30, 2020, compared with $17.08 billion as of Dec 31, 2019.
At the end of the first half of 2020, the company generated cash from operating activities of $1,448.3 million, down from $1,053.1 million in the prior-year quarter.
Guidance
For 2020, Entergy reaffirms adjusted EPS of $5.45-$5.75 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.54, below the midpoint of the company’s guidance range.
NextEra Energy (NEE - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, surpassing the Zacks Consensus Estimate of $2.50 by 4.4%.
FirstEnergy Corporation (FE - Free Report) delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
Upcoming Releases
Dominion Energy (D - Free Report) is scheduled to report second-quarter 2020 results on Jul 31. The Zacks Consensus Estimate for quarterly earnings stands at 83 cents per share.
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Entergy's (ETR) Q2 Earnings Beat Estimates, Revenues Fall Y/Y
Entergy Corporation (ETR - Free Report) reported second-quarter 2020 adjusted earnings of $1.37 per share, which surpassed the Zacks Consensus Estimate of $1.23 by 11.4%. Moreover, the bottom line improved 1.5% from $1.35 per share in the year-ago quarter.
Excluding the effects of special items, the company registered GAAP earnings of $1.79 per share compared with $1.22 a year ago.
Total Revenues
In the quarter under review, total revenues came in at $2,412.8 million, which lagged the Zacks Consensus Estimate of $2,806 million by 14%. Also, the top line fell 9.5% from the year-ago quarter’s $2,666.2 million.
Segment Results
Utility: The segment’s quarterly adjusted earnings came in at $1.71 per share compared with $1.70 in the prior-year quarter.
Parent & Other: The segment incurred an adjusted loss of 34 cents per share compared with a loss of 35 cents in the prior-year quarter.
Entergy Wholesale Commodities (EWC): The segment registered earnings of 42 cents per share on an as-reported basis against a loss of 13 cents in the year-ago quarter.
Highlights of the Release
Operating expenses in the quarter summed $1,973.5 million, down 15.2% from $2,327.4 million in the year-ago quarter.
Interest expenses were $216.8 million, up 7.8% from $201.1 million in the year-ago quarter.
In the reported quarter, total retail customers served by the company increased 1.1% to nearly 2.94 million.
Entergy Corporation Price, Consensus and EPS Surprise
Entergy Corporation price-consensus-eps-surprise-chart | Entergy Corporation Quote
Financial Highlights
As of Jun 30, 2020, Entergy had cash and cash equivalents of $935.5 million compared with $425.7 million as of Dec 31, 2019.
Long-term debt was $18.28 billion as of Jun 30, 2020, compared with $17.08 billion as of Dec 31, 2019.
At the end of the first half of 2020, the company generated cash from operating activities of $1,448.3 million, down from $1,053.1 million in the prior-year quarter.
Guidance
For 2020, Entergy reaffirms adjusted EPS of $5.45-$5.75 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.54, below the midpoint of the company’s guidance range.
Zacks Rank
Entergy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
NextEra Energy (NEE - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, surpassing the Zacks Consensus Estimate of $2.50 by 4.4%.
FirstEnergy Corporation (FE - Free Report) delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
Upcoming Releases
Dominion Energy (D - Free Report) is scheduled to report second-quarter 2020 results on Jul 31. The Zacks Consensus Estimate for quarterly earnings stands at 83 cents per share.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained an impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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