Before the bell on Friday, electrical utility company Entergy Corporation (ETR) saw its fourth-quarter profit almost double, beating estimates, on lower revenues. The company also reaffirmed its 2013 guidance in-line with analysts’ views.
The New Orleans-based company posted a fourth-quarter net income of $296.3 million, or $1.66 per share, up from $154.1 million, or 87 cents per share, in the fourth-quarter a year earlier.
Operating income for the company came in at $307.0 million, or $1.72 per share, versus $167.2 million, or 94 cents per share, earned a year earlier. According to a poll by Thomson Reuters, analysts were expecting the company to report an EPS of $1.40.
Total operating revenue for the quarter were down, however. ETR revenue was $2.44 billion from $2.49 billion in the prior year quarter. The analyst consensus expected revenue to be $3.13 billion.
Looking forward to full year 2013, the company reaffirmed its previous earnings guidance in a range of $4.60 to $5.40 per share. Analysts expect 2013 EPS to be $4.93.
Entergy shares were inactive during pre-market trading on Friday. The stock is down about -6% over the trailing twelve months.
The Bottom Line
Shares of Entergy (ETR) have a dividend yield of 5.11% based on last night’s closing price of $64.96 and the company’s annualized dividend payout of $3.32 per share.
Entergy Corporation (ETR) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.