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Utility firm Entergy's profit beats estimates on lower costs
Nov 3, 2024 3:30 PM

Oct 31 (Reuters) - Electric utility company Entergy ( ETR )

beat Wall Street estimates for third-quarter profit on

Thursday, as lower costs and higher service rates helped counter

the impact of unfavorable weather.

The company provides electricity services to nearly 3

million customers across Arkansas, Louisiana, Mississippi and

Texas.

Its service areas were impacted by the Hurricane Francine,

which made landfall in September, leaving tens of thousands of

customers without power.

Still, Entergy ( ETR ) posted an adjusted profit of $2.99 per share

in the third quarter, above analysts' average estimate of $2.97,

according to data compiled by LSEG.

Its total retail customers also rose about 1% over the year

earlier.

The company forecast its full-year adjusted profit to be

between $7.15 and $7.35 per share. Analysts were expecting $7.22

per share for 2024.

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