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Entergy Guides Lower

It cites rising costs.
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Entergy (ETR) - Get Entergy Corporation Report guided lower for the first quarter, citing a refueling outage at its Indian Point 3 nuclear reactor and higher costs at its utility business.

The New Orleans-based energy company said it expects to make $1.01 a share for the quarter, up from 92 cents a year ago but a dime shy of the Thomson Financial analyst consensus estimate.

Operational results at Utility, Parent and Other were lower due primarily to higher operation and maintenance, depreciation and interest expense, partially offset by higher net revenue including increased sales volumes. Current quarter weather was closer to seasonal normal temperatures, compared to milder weather in first quarter 2006.

Operational results at Entergy's Non-Nuclear Wholesale Assets business for first quarter 2007 are expected to be modestly lower compared to the same period last year due to increased losses in the current period, Entergy said.Entergy affirmed previously issued as-reported and operational earnings guidance for 2007 to be in the range of $5.40 to $5.70 per share.

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