NEW ORLEANS (AP) — Electric power company Entergy Corp. said it expects a first-quarter profit — reversing a year-ago loss — as a colder winter and higher electrical rates boosted revenue.
Entergy said today it expects first-quarter earnings of 89 cents per share, after losing 86 cents per share during the same period last year. It said operational earnings would be 93 cents per share.
Analysts surveyed by FactSet have been expecting a first-quarter profit of 73 cents per share.
Entergy said weather during the quarter was not as mild as last year, so customers used more energy. Also, it had raised prices because of nuclear and natural gas investments made last year.
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University officials had planned a $4 million demolition of the Statesman Towers over the school's winter break.
Eli Lilly said Thursday its depression drug edivoxetine failed in late-stage clinical testing, and it doesn't plan to file for marketing approval of the drug.
A groundbreaking ceremony is planned for Dec. 12 at the Willard Library just north of the city's downtown to mark the beginning of work on the $2.4 million project.