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United States : Entergy Reports Fourth Quarter and Full Year Financial Results; Initiates 2018 Earnings Guidance.

Entergy Corporation reported a fourth quarter 2017 loss per share of $(2.66) on an as-reported basis and earnings per share of 76 cents on an operational basis (non-GAAP), which excludes the effects of special items. For the full year, the company reported 2017 earnings per share of $2.28 on an as-reported basis and $7.20 on an operational basis. The as-reported results for the quarter and full year reflected the revaluation of net deferred tax assets as a result of tax reform, in addition to asset impairments and other expenses related to strategic decisions in the EWC business.

2017 was another productive year with significant accomplishments for our company, and Utility, Parent & Other adjusted earnings exceeded our guidance range, said Entergy Chairman and Chief Executive Officer Leo Denault. As we look ahead to the next three years, our success continues to be less dependent on strategic initiatives and more on our own operational execution.

Business highlights included the following:

Entergy initiated 2018 consolidated operational EPS guidance of $6.25 to $6.85 and Utility, Parent & Other adjusted EPS guidance of $4.50 to $4.90.

The APSC issued an order approving E-ARs 2018 test year FRP settlement agreement.

E-AR, E-TX and E-NO received approvals for AMI deployment.

E-LA held its groundbreaking for the Lake Charles Power Station.

NYISO concluded there will be no reliability issues resulting from IPEC retirement.

Entergy raised its dividend for the third consecutive year.

Center for Climate and Energy Solutions, of which Entergy is a member, ranked again in the top five environmental think tanks globally.

For fourth quarter 2017, the company reported a loss of $(479 million), or $(2.66) per share, on an as-reported basis and earnings of $138 million, or 76 cents per share, on an operational basis. This compared to fourth quarter 2016 loss of $(1,769 million), or $(9.88) per share, on an as-reported basis and earnings of $56 million, or 31 cents per share on an operational basis.

For the full year, the company reported 2017 earnings of $412 million, or $2.28 per share, on an as-reported basis and $1,300 million, or $7.20 per share, on an operational basis. This compared to a 2016 loss of $(584 million), or $(3.26) per share, on an as-reported basis and earnings of $1,272 million, or $7.11 per share, on an operational basis.

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Publication:Mena Report
Article Type:Financial report
Date:Feb 24, 2018
Words:411
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