[Logo of Entergy] Entergy Corporation
639 Loyola Avenue
New Orleans, LA 70113
Exhibit 99.1
News
Release
Date: July 5, 2001
For Release: Immediate
Contact: Yolanda Pollard (Media) Nancy Morovich (Investor Relations)
504-576-4238 504-576-5506
ypollar@entergy.com nmorovi@entergy.com
Entergy Offers Second Quarter Earnings Guidance
(New Orleans) - In accordance with Regulation FD, Entergy
Corporation (NYSE: ETR) today indicated that it is confident second
quarter 2001 operational earnings will be at least 5 percent higher
than the current published First Call earnings consensus estimate
of $0.91 per share. Entergy cited continued excellent performance
in its competitive businesses as the primary reason for its ability
to again exceed the market's earnings expectations and offered the
following details:
- all non-utility nuclear plants continue to perform well and
are expected to contribute solid earnings in spite of the impact of
scheduled refueling outages during the quarter at the Pilgrim and
Indian Point 3 nuclear plants
- Axia Energy, the trading arm of the Entergy-Koch venture, is
expected to make a strong contribution to earnings in its first
full quarter of operations
Entergy also noted that second quarter guidance reflects
decreased earnings from Entergy Wholesale Operations and the impact
of weather, which was essentially normal during the quarter.
Entergy reaffirmed its operational earnings guidance for the
full year 2001, estimated to be in a range of $3.00 to $3.20 per
share. The company indicated that it is confident this range can
be achieved, even though there will be no operational earnings
contributed by the Saltend plant for the remainder of the year.
Entergy announced earlier today that Saltend, a 1,200 MW gas-fired
plant in the United Kingdom, is being sold to Calpine Corporation.
The transaction is expected to result in a gain to Entergy, which
will be treated as a special item as part of 3rd quarter 2001
results.
Entergy plans to provide an updated, detailed review of annual
earnings guidance in its second quarter earnings release, which is
scheduled for Tuesday, July 31, 2001. A teleconference will be
held on July 31st at 10:00 CDST, and may be accessed by calling
Premiere Conferencing at (913) 981-5508 no more than 15 minutes
prior to the start of the call. The confirmation number is 694937.
For seven days following the teleconference, a tape delay will be
available and may be accessed by dialing 719-457-0820. The
confirmation number is the same. Internet users may also access
the teleconference by visiting Entergy's website at
www.entergy.com.
Entergy is a major global energy company with power
production, distribution operations and related diversified
services. Entergy owns, manages, or invests in power plants
generating more than 30,000 megawatts of electricity domestically
and internationally, and delivers electricity to about 2.6 million
customers in portions of Arkansas, Louisiana, Mississippi and
Texas. Through Entergy-Koch, L.P., it is also a leading provider
of wholesale energy marketing and trading services.
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Entergy's online address is www.entergy.com.
The following constitutes a "Safe Harbor" statement under the
Private Securities Litigation Reform Act of 1995: Investors are
cautioned that forward-looking statements contained in the
foregoing release with respect to the revenues, earnings,
performance, strategies, prospects and other aspects of the
business of Entergy Corporation may involve risks and
uncertainties. Actual events and results may, for a variety of
reasons, prove to be materially different from those indicated in
these forward-looking statements, estimates and projections.
Factors that could influence actual future outcomes include
regulatory decisions, the effects of changes in law, the evolution
of markets and competition, changes in accounting, weather,
the performance of generating units, fuel prices and availability,
financial markets, risks associated with businesses conducted in
foreign countries, changes in business plan, the presence of
competitors with greater financial resources and the impact of
competitive products and pricing; the effect of the Entergy
Corporation's policies, including the amount and rate of growth of
Entergy Corporation's expenses; the continued availability
to Entergy Corporation of adequate funding sources and changes in
interest rates; delays or difficulties in the production,
delivery or installation of products and the provision of services;
and various legal, regulatory and litigation risks. Entergy
Corporation undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. For a more detailed
discussion of some of the foregoing risks and uncertainties, see
Entergy Corporation's filings with the Securities and Exchange
Commission.