Entergy Profits Fall on Poor Industrial Sales

Hurt by the recession, increased expenses and lower production at its nuclear power plants, Entergy(ETR Quote), the New Orleans-based utility, reported a 24% decline in first-quarter profits, missing Wall Street forecasts.

The company, which had warned investors last month that its profits would come up short of estimates, said its earnings fell to $235.3 million, or $1.20 a share, compared with $308.7 million, or $1.56 a share, a year earlier. Analysts were looking for $1.34 a share, according to a Thomson Reuters poll.

Revenue declined 2.6% to $2.79 billion, from $2.86 billion in the prior-year period. Analysts forecast revenue of $3.07 billion, on average. ...