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ENTERGY YEAR-END RESULTS SHOW DECLINE

 NEW ORLEANS, Feb. 9 /PRNewswire/ -- Energy Corporation (NYSE: ETR) today reported 1992 consolidated net income of $437.6 million, down 9.2 percent from $482 million in 1991.
 Earnings per share for 1992 were $2.48, down 6.1 percent from $2.64 in 1991.
 Per share results reflect 6.1 million fewer average shares outstanding, due to Entergy's common stock repurchase program.
 The lower 1992 results are due to the adverse effect of mild summer and winter temperatures in Entergy's service area and also to comparisons with certain 1991 non-recurring charges.
 Milder temperatures resulted in a 1992 net income reduction of $42 million when compared to average temperatures over a 20-year period. When compared to 1991 temperatures, the 1992 net income reduction was $56 million.
 Retail sales to Entergy's residential, commercial, industrial, and governmental customers decreased 936 million kilowatt hours (kwh) in 1992. Residential sales were affected the most with a 780 million kwh decrease.
 The weather impact masked a growth in the retail customer base. "In our three-state service area, retail customers actually increased by 17,000 in 1992," said Gerald D. McInvale, Entergy's chief financial officer. "However, lower average kwh usage, especially by residential customers, more than offset that growth."
 Results in 1992 include significant improvements in controlling costs. Non-fuel operating and maintenance expenses (exclusive of nuclear refueling charges) decreased by $33.3 million, or 3.0 percent. This is a downward trend that began after restructurings in mid-1991. Additional restructuring actions were initiated in fourth quarter 1992 that will result in staffing reductions of approximately 400. An after- tax charge totaling $9.0 million, or 5 cents per share, was taken in the fourth quarter to reflect the impact of severance and relocation costs.
 "We are working very hard to reduce O&M costs over the next few years and then keep their rate of increase below inflation," McInvale said.
 Interest expense decreased by $67.7 million in 1992. "This improvement is the result of aggressive refinancing and debt reduction activities as interest rates have declined over the past several years," McInvale said. "We have reduced long-term debt by over $800 million since the end of 1990.
 "In summary, the lower reported 1992 net income masks significant progress made toward becoming an even more effective competitor," McInvale said. "It was a year of strong operational performance with solid improvements in cost control and growth in our customer base."
 Results in 1992 include an after-tax gain of $19.6 million, or 11 cents per share, from Entergy's Arkansas Power & Light subsidiary's sale of its retail properties in Missouri. Comparative 1991 net income included a net gain of $28.6 million, resulting from settlements with regulators in New Orleans and at the Federal Energy Regulatory Commission.
 A fourth quarter charge of $5.4 million, or 3 cents per share, was made to initially account for certain Entergy post-retirement and supplemental retirement plans.
 Fourth Quarter 1992 Results
 In the fourth quarter, net income decreased $55.6 million compared to 1991 due to a $48.6 million one-time gain from a settlement with New Orleans regulators in the earlier period.
 In addition to charges for restructuring and for the post and supplemental retirement plans, mild temperatures during the quarter decreased net income.
 Operating revenues and expenses both increased because fuel costs rose. Two nuclear plants experienced refueling outages during the quarter. This caused heavier reliance on gas-fired plants at a time when natural gas prices were very high.
 SUMMARY OF OPERATING RESULTS
 (Unaudited)
 (In thousands, except per share amounts)
 12 mos. ended Dec. 31 1992 1991 Pct. chg.
 Total operating revenues $4,116,499 $4,051,429 1.6
 Total operating expenses $3,157,913 $2,984,399 5.8
 Non-fuel operation &
 maintenance expenses
 (Excl. nuclear outages) $1,084,145 $1,117,479 (3.0)
 Nuclear outage expenses $ 87,885 $ 61,789 42.2
 Rate deferrals:
 Current deferrals $ (24,176) $ (146,681) (83.5)
 Collection of previous
 deferrals $ 145,764 $ 133,838 8.9
 Net $ 121,588 $ (12,843) ---
 Interest income $ 36,881 $ 62,380 (40.9)
 Interest expense $ 559,354 $ 627,042 (10.8)
 Consolidated net income $ 437,637 $ 482,032 (9.2)
 Earnings per common share on
 consolidated net income $ 2.48 $ 2.64 (6.1)
 Average number of shares
 outstanding 176,574 182,665 (3.3)
 Electric Energy sales:
 (millions of KWH)
 Residential 17,549 18,329 (4.3)
 Commercial 12,928 13,164 (1.8)
 Industrial 23,610 23,466 0.6
 Governmental 1,839 1,903 (3.4)
 Total sales to retail 55,926 56,862 (1.6)
 Sales for resale 7,979 7,346 8.6
 Total sales 63,905 64,208 (0.5)
 3 mos. ended Dec. 31 1992 1991 Pct. chg.
 Total operating revenues $1,004,017 $ 921,973 8.9
 Total operating expenses $ 817,612 $ 664,417 23.1
 Non-fuel operation &
 maintenance expenses
 (Excl. nuclear outages) $ 319,551 $ 308,162 3.7
 Nuclear outage expenses $ 15,167 $ 16,606 (8.7)
 Rate deferrals:
 Current deferrals $ (706) $ (97,368) (99.3)
 Collection of previous
 deferrals $ 42,182 $ 36,981 14.1
 Net $ 41,476 $ (60,387) (168.7)
 Interest income $ 19,024 $ 14,313 32.9
 Interest expense $ 137,870 $ 154,417 (10.7)
 Consolidated net income $ 55,680 $ 111,292 (50.0)
 Earnings per common share on
 consolidated net income $ 0.32 $ 0.61 (47.5)
 Average number of shares
 outstanding 175,137 180,147 (2.8)
 Electric Energy sales:
 (millions of KWH)
 Residential 3,811 3,926 (2.9)
 Commercial 3,125 3,086 1.3
 Industrial 6,130 5,986 2.4
 Governmental 449 459 (2.2)
 Total sales to retail 13,515 13,457 0.4
 Sales for resale 1,697 1,746 (2.8)
 Total sales 15,212 15,203 0.1
 SELECTED CONSOLIDATED BALANCE SHEET ITEMS
 (unaudited)
 (in 000s)
 12/31/92 12/31/91
 Total common shareholders' equity $4,278,898 $4,207,871
 Subsidiaries' preferred stock $ 705,072 $ 690,290
 Long-term debt $5,283,149 $5,513,714
 Common shares outstanding at
 end of period 175,137 178,809
 -0- 2/9/93
 /CONTACT: Media: Patrick Sweeney, 504-569-4160, or Investors: Stuart Ball, 504-569-4817, both of Entergy/
 (ETR)


CO: Entergy Corporation ST: Louisiana IN: OIL SU: ERN

BR-BN -- AT005 -- 4570 02/09/93 10:48 EST
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Date:Feb 9, 1993
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