Entergy Says Profit Will Beat Estimates

Electric utility owner Entergy Corp. said that it expects second-quarter profit to beat Wall Street estimates, citing surging power sales and fewer shutdowns at the company’s nuclear stations.

The New Orleans-based company said earnings would come to at least $1.15 a share, topping the average estimate of analysts surveyed by Thomson First Call of $1.11. In the year-earlier period, Entergy earned $1.06 a share.

Entergy, which posted 2001 revenue of $9.62 billion, also repeated that it expects to report 2002 earnings of $3.40 to $3.60 a share, in line with estimates of $3.53 a share.

Entergy rose 3 cents to $42.01 on the NYSE.