Entergy Corp. on Monday reported a third-quarter loss of $718.2 million, after reporting a profit in the same period a year earlier.
The New Orleans-based company said it had a loss of $4.04 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.90 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.93 per share.
The power company posted revenue of $3.37 billion in the period.
Entergy expects full-year earnings in the range of $5.50 to $6.10 per share.
Entergy shares have fallen 22 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1 percent. The stock has decreased 19 percent in the last 12 months.