Entergy Shares Fall After 3Q Profit Drops 29 Percent
NEW ORLEANS (AP) — Entergy Corp. said its third-quarter profit fell 29 percent on higher costs, and it gave a 2014 forecast with midpoint below analysts' expectations.
Shares of the power generating and distribution company fell $2.05, or 3 percent, to close at $66.06.
Net income fell to $239.9 million, or $1.34 per share, compared with $337.1 million, or $1.89 per share, a year earlier.
Revenue grew 13 percent to $3.35 billion from $2.93 billion.
Analysts surveyed by FactSet expected adjusted earnings of $2.18 per share on revenue of $3.14 billion.