Entergy Corp. said Wednesday it expects its fourth-quarter earnings to fall well short of the profit posted a year earlier.
The New Orleans-based utility’s operational earnings will be around 99 cents per share, compared to $1.72 per share reported a year . Entergy’s estimate still beats the 71 cents per share forecast by analysts surveyed by Thomson Reuters.
Operational earnings don’t include costs such as interest and taxes.
Entergy said its results were lowered by expenses related to closing the Vermont Yankee Nuclear Power Station and the related settlement agreement with Vermont, and the costs associated with laying off what will eventually be hundreds of workers.
Entergy also said it expects to meet its previously issued 2014 operational earnings guidance to be in the range of $4.60 to $5.40 per share.