New Orleans-based Entergy Corp.’s first-quarter earnings dropped to $230 million, or $1.28 per share, from $298.1 million, or $1.65 per share, a year ago partly because of milder weather.
Entergy Chairman and Chief Executive Officer Leo Denault said a challenging first-quarter also included several key accomplishments, including the acquisition of Union Power Station and an increase in the sale of power to industrial customers.
New plants and expansions of existing facilities across several sectors boosted industrial sales. Power usage within the petroleum refining sector made up the majority of the increase among industrial customers.
Entergy beat Wall Street’s earnings forecasts. Stock analysts surveyed by Zacks Investment Research expected earnings of $1.17 per share.