Entergy earnings down from year ago, but in line with expectations

Entergy Corporation (NYSE: ETR) reported first quarter 2015 earnings per share of $1.65 on an as-reported basis and $1.68 on an operational basis, compared to first quarter 2014 as-reported EPS of $2.24 and operational EPS of $2.29.

“It was a productive first quarter, and in terms of performance, results and growth, we continue to be in line with our expectations,” said Entergy Chairman and CEO Leo Denault. “The Utility experienced its seventh straight quarter of industrial sales growth. We continued filling in the details of our resource plan, including the announcement of a new transmission project in Arkansas. We also took important steps to strengthen regulatory frameworks, in part by supporting the passage of new legislation in Arkansas and Mississippi and preparing for a pivotal rate case filing in Arkansas.”

Business highlights for the quarter included the following:

• Arkansas Governor Asa Hutchinson signed legislation that establishes a forward test year formula rate plan and provides additional considerations in setting the return on equity. This legislation should result in more efficient rate making, and allow Entergy Arkansas, Inc. to focus time and resources on activities that create sustainable value for the state, including job growth. Subsequent to quarter-end, on April 24, Entergy Arkansas filed a rate case applying this legislation.

• In Mississippi, Governor Phil Bryant signed a bill into law that facilitates Entergy Mississippi, Inc.’s investment in electrical infrastructure at proposed economic development sites, even before a specific customer has been identified – and in doing so, supports growth and job creation in the state.

• Indian Point Energy Center Unit 3 completed its refueling outage in 23 days, its shortest outage on record.