-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ey9QP23RoVXF84Na6zNswADO3axu2AvNJ3e0+jUR6goNuI7qHyayy2p1NR84sfIA yeR+WizPCV7JD5H7oBcwRg== 0000065984-02-000109.txt : 20020416 0000065984-02-000109.hdr.sgml : 20020416 ACCESSION NUMBER: 0000065984-02-000109 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020411 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20020411 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENTERGY CORP /DE/ CENTRAL INDEX KEY: 0000065984 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 721229752 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11299 FILM NUMBER: 02608065 BUSINESS ADDRESS: STREET 1: 639 LOYOLA AVE CITY: NEW ORLEANS STATE: LA ZIP: 70113 BUSINESS PHONE: 5045764000 MAIL ADDRESS: STREET 1: PO BOX 61000 CITY: NEW ORLEANS STATE: LA ZIP: 70161 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY CORP /FL/ DATE OF NAME CHANGE: 19940329 FORMER COMPANY: FORMER CONFORMED NAME: MIDDLE SOUTH UTILITIES INC DATE OF NAME CHANGE: 19890521 FORMER COMPANY: FORMER CONFORMED NAME: ENTERGY GSU HOLDINGS INC /DE/ DATE OF NAME CHANGE: 19940329 8-K 1 a10402.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date earliest event reported) April 11, 2002 Commission Registrant, State of Incorporation, I.R.S. Employer File Number Address and Telephone Number Identification No. 1-11299 ENTERGY CORPORATION 72-1229752 (a Delaware corporation) 639 Loyola Avenue New Orleans, Louisiana 70113 Telephone (504) 576-4000 Form 8-K Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits (c) Exhibits. Exhibit Description No. 99.1 Release, dated April 11, 2002, issued by Entergy. Item 9. Regulation FD Disclosure Entergy Corporation On April 11, 2002, Entergy Corporation ("Entergy") issued a release to certain investors, which is attached as an exhibit hereto and incorporated herein by reference. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Entergy Corporation By: /s/ Nathan E. Langston Nathan E. Langston Senior Vice President and Chief Accounting Officer Dated: April 11, 2002 EX-99 3 a10402e1.txt Entergy Corporation [Logo of Entergy] 639 Loyola Avenue New Orleans, LA 70113 Exhibit 99.1 News Release Date: April 11, 2002 For Release: Immediate Contact: Morgan Stewart (Media) Nancy Morovich (Investor Relations) (504) 576-4238 (504) 576-5506 mstewa3@entergy.com nmorovi@entergy.com Entergy Offers First Quarter Earnings Guidance, Expects to Report Record Operational Earnings for the Quarter New Orleans, La. - In accordance with Regulation FD, Entergy Corporation (NYSE: ETR) today indicated that it expects to report solid first quarter 2002 financial results with operational earnings of at least $0.76 per share, including the impact of weather which is expected to be slightly favorable compared to normal for the period. The current published First Call consensus estimate for Entergy's first quarter earnings is $0.69 per share. Entergy reaffirmed operational earnings guidance for the full year 2002 to be in the range of $3.40 to $3.60 per share. On an as reported basis, Entergy's first quarter earnings will be substantially lower due to the inclusion of some or all of a predominantly non-cash, special charge ranging from $(1.15) to $(1.35) per share. A portion of the charge may be recorded in a subsequent period, as certain negotiations currently underway and proper accounting treatment in compliance with applicable rules are finalized. Entergy will record this special charge as a result of its decision to discontinue development of additional greenfield power plants in both the United States and Europe where overbuilt power markets are expected to continue to reflect depressed power prices. The company expects this decision to improve its already strong financial condition, to substantially reduce capital expenditures that would have been made in already oversupplied markets, and to enhance its financial performance going forward by redeploying capital into more financially attractive investments. Entergy's previously record for first quarter operational earnings was $0.75 per share, set in the first quarter of 2001. Key drivers that are expected to cause current quarter earnings to differ from those reported in 2001 include the following: - Utility results are expected to be lower in the first quarter 2002 compared to 2001 as a result of lower industrial sales due to a comparatively slower economy, higher operation and maintenance expense, and less favorable weather. The cessation of goodwill amortization partially offset these negative factors for the quarter. (For comparative purposes, first quarter 2001 operational results at the Utility were $0.52, including $0.05 due to the positive effects of colder-than-normal weather.) - Entergy Nuclear results are expected to be higher in the current quarter compared to first quarter 2001 due to the acquisition of Indian Point 2 in September 2001 and strong operational performance and high capacity factors achieved across the non-utility nuclear fleet. (Entergy Nuclear recorded $0.13 in operational earnings per share in first quarter 2001.) - Energy Commodity Services results are expected to be higher compared to first quarter of 2001. This business unit benefited from a full quarter's contribution from Entergy-Koch versus only two months in first quarter 2001, as well as strong results in trading. Results were negatively impacted by continued weak power prices in the United Kingdom and by the absence in 2002 of liquidated damages recorded in first quarter 2001 in connection with construction delays on the Damhead Creek plant in the UK. (ECS had $0.09 in operational earnings per share in first quarter 2001.) - Results at the Parent are expected to be flat to lower compared to first quarter 2001. (Parent had $0.01 in operational earnings per share in first quarter 2001.) The special charge Entergy expects to record will reflect the impairment of assets consistent with Entergy's market point of view, the disposition of certain commitments, and the restructuring of Entergy Wholesale Operations. The most significant components of the charge are related to the Damhead Creek plant and turbines previously contracted for with GE Power Systems. Entergy Wholesale Operations will emerge from the restructuring as an asset operator of approximately 2,500 MW of non- nuclear generation which is currently operational or in construction. Entergy expects to continue to pursue the acquisition of existing or partially complete generation assets that are priced consistent with its market point of view, with a particular emphasis on assets that provide trading value to Entergy- Koch, L.P. A teleconference will be held on April 25, 2002, at 10:00 a.m. CDST, and may be accessed by calling Premiere Conferencing at (719) 457-2641 no more than 15 minutes prior to the start of the call. The confirmation number is 793297. Internet users may also access the teleconference by visiting Entergy's website at www.entergy.com. 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. 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. -30- Additional investor information can be accessed online at http://investor.entergy.com/investor/index_main.shtm. 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. -----END PRIVACY-ENHANCED MESSAGE-----