Entergy's Q3 Profit Outlook Falls Below Expectations

Entergy provided Friday a third-quarter profit outlook that was below analyst forecasts, as the utility detailed costs arising from its decision to close the Vermont Yankee nuclear power station. The company expects net earnings of $1.26 a share, down from $1.34 a share in the year-earlier period. Excluding non-recurring items, operational per-share earnings are expected to be $1.67, below the FactSet consensus analyst estimate of $2.08. Meanwhile, Entergy affirmed its 2014 adjusted earnings outlook of $5.55 to $6.75 a share. The stock, which was still inactive in premarket trade, but has gained 25% in the year to date through Thursday, compared with a 0.8% rise in the S&P 500.