Entergy Corp. announced it expects third-quarter earnings of $1.88 per share, a drop of nearly 47 percent from the $3.53 reported for the third quarter of 2011.

However, the 2011 earnings got a significant boost from a settlement with the Internal Revenue Service.

Entergy also repeated its earnings projections for 2012 of $3.44 to $4.24 per share. The amount includes a loss of $1.41 per share of special items, including the expenses of spinning off the utility’s transmission lines.

Entergy said its utility segment’s earnings fell largely because of higher income taxes and lower temperatures than last year.