Entergy 2Q Profit Boosted by Tax Settlement

Energy Reuters

Power producer Entergy Corp posted higher second-quarter profits, helped by a tax settlement over costs to repair damage from hurricanes Katrina and Rita in 2005.

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Net income for the quarter was $365 million, or $2.06 per share, compared with $315 million, or $1.76 per share, a year before. On an operating basis, earnings were $2.11 per share.

On July 17, Entergy said it expected its operational earnings to be $2.10 per share, with net earnings at $2.05 per share.