Entergy Corp. reported increased second-quarter earnings that floated on strong wholesale sales but fell short of analysts”™ income projections.
Entergy, which owns Buchanan”™s Indian Point Energy Center, said Tuesday its per-share operational earnings for the second quarter were $1.11, or 10 percent higher than the second quarter of 2013. Total operational earnings totaled $200.3 million in the second quarter this year, up from $179.7 million in 2013.
Excluding special items, the reported earnings were $189.4 million, or $1.05 per diluted share, in the second quarter, up from $163.7 million, or 92 cents per diluted share, in the second quarter of 2013.
“These results are further evidence of the progress we”™ve made on many fronts over the past 18 months,” Leo Denault, Entergy chairman and CEO, said. “The state of Entergy”™s business is strong.”
Entergy provides utility services to customers in the southern U.S., with sales in that area mostly flat, according to the company. In the second quarter, utility earnings totaled $211.3 million as compared to $211.1 million from the second quarter of 2013.
Its wholesale division earned $25.9 million, or 14 cents per share, compared to $11.5 million, or 6 cents per share, in the second quarter of 2013. Net revenue increases were attributed, in part, to higher Northeast capacity prices.
The company, headquartered in New Orleans, reports annual revenues of more than $11 billion and said it employs 14,000 nationwide.
