Entergy Lowers 2010 Guidance

Entergy lowers its 2010 earnings guidance to a range of $5.95 to $6.80 a share from a previous view of $6.15 to $6.95 a share.
Author:
Publish date:

NEW YORK (

TheStreet

) --

Entergy

(ETR) - Get Report

lowered its 2010 earnings guidance to a range of $5.95 to $6.80 a share from $6.15 to $6.95 a share Thursday to reflect a possible charge related to the previously announced business unwind of the internal organizations created for Enexus and EquaGen.

Entergy said the estimated potential charge of 40 cents to 45 cents a share includes previously identified special items for spinoff dis-synergies and expenses for outside services utilized to pursue the spinoff, for which 25 cents a share had already been reflected in the guidance.

Entergy, meanwhile, affirmed its previously issued 2010 adjusted earnings guidance range of $6.40 to $7.20 a share, and expects first-quarter earnings of about $1.11 a share and adjusted earnings of about $1.32 a share, lower than levels a year earlier.

In the year-earlier first quarter, Entergy reported earnings of $1.20 a share and adjusted earnings of $1.29 a share.

Shares of Entergy as essentially flat on Thursday, down 9 cents at $81.32 in mi-morning trading.

-- Reported by Andrea Tse in New York

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.