ETR Q4 2016 Earnings & Call Highlights

Wed, February 15, 2017 2:55 pm

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Entergy (ETR) Q4 2016 Earnings Analysis and Call Comments

Q4 2016 Results & Guidance: Operational earnings of $0.31/sh are down from $1.58/sh YoY, exceeding the average analysts’ estimate of $0.13 but within the wide range of implied ETR guidance: ($0.17) – $0.63/sh. Results benefited from new recovery rates, the Union Power Station acquisition, favorable weather and stronger retail sales volume, but was more than offset by increases in non-fuel O&M expenses, higher decommissioning costs and lower price and volume for nuclear assets. Including special items of ($10.19)/sh, reported earnings during Q4 came in at a $9.88/share loss, driven primarily by asset impairments in the EWC business (Entergy Wholesale Commodities). Full year 2016 operational earnings totaled $7.11/sh, up from $6.00 in 2015 and within ETR’s guidance of $6.60 – $7.40/sh. ETR issued 2017 operational EPS guidance of $4.75 – $5.35 including $4.25 – $4.55 from Utility, Parent & Other and estimated approx. ($2.35)/sh of special items driven mostly by asset impairments.

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