RTTNews | Aug 4, 2021 06:51AM EDT

06:51 Wednesday, August 4, 2021 (RTTNews.com) - While announcing a loss in its second quarter, compared to prior year's profit, Entergy Corp. (ETR) Wednesday said it reaffirmed fiscal 2021 earnings forecast, which would now be in the upper half of the range.

Entergy continues to expect 2021 adjusted earnings per share in a range of $5.80 to $6.10.

On average, 17 analysts polled by Thomson Reuters expect earnings of $5.94 per share. Analysts' estimates typically exclude special items.

Entergy Chairman and Chief Executive Officer Leo Denault said, "Our multi-year efforts to de-risk our business, as recently recognized by Moody's, have unlocked greater financial flexibility, which helps us manage risks and lower our equity needs. As a result, we expect to achieve results in the upper half of guidance and outlook ranges. Our underlying growth outlook is driven by investments that will improve customer outcomes, including those that will provide clean, sustainable energy."

In the second quarter, the company reported a loss of $6 million, or 3 cents per share, compared to last year's earnings of $361 million or $1.79 per share.

Adjusted earnings were $269 million or $1.34 per share, compared to $276 million or $1.37 per share last year. Analysts expected earnings of $1.40 per share for the quarter.

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