Entergy posts lower quarterly earnings

Entergy Corp. reported its third-quarter earnings fell to $337.1 million, or $1.89 per share, from $628.1 million, or $3.53 per share, a year ago.

The New Orleans-based company said its results were lower because of higher expenses for its utility and wholesale segments. Entergy’s 2011 results were boosted by a settlement with the Internal Revenue Service.

Entergy updated its 2012 earnings guidance to an estimated $3.44 to $4.24 per share. However, Entergy said it expected its results would fall in the upper end of that range.

The company said it expects its 2013 earnings will range from $4.60 to $5.40 per share. Those figures do not reflect potential future expenses for the proposed spin-off and merger of its transmission business with ITC.