New Orleans-based Entergy Corp. expects to exceed its earnings estimate by at least 10 cents in the third quarter, and now expects to exceed its earnings guidance for the entire year 10-20 cents, benefiting from stronger than expected wholesale energy marketing and trading sales and continued improvement in the regional economy.

Third quarter earnings, which will officially be released Oct. 30, are expected to be at least $1.45 per share, including the impact of weather, which was milder than normal for the period. The earnings would exceed Wall Street estimates of $1.35 a share. Also, Entergy has increased its operational earnings guidance for the full year to $3.60-$3.70 per share, up from a previous guidance of $3.40-$3.60.

Entergy raised its 2002 full-year guidance to reflect year-to-date disproportionate sharing of income from the Entergy-Koch venture and the year-to-date impact of weather. Entergy recorded substantially all of the partnership income from the Entergy-Koch venture in the first and second quarters of 2002, and is expected to again receive a disproportionate share of income in the third quarter. Next year, Entergy also reaffirmed that it still expects to earn between $3.75-$3.95 per share.

Utility earnings improved over the third quarter results a year ago mostly because of higher sales volumes, Entergy noted. Entergy Nuclear also is expected to record increased results from a year ago because of a full-quarter contribution from the Indian Point 2 nuclear plant in Buchanan, NY, which it acquired in Sept. 2001, as well as two months of contribution from the Vermont Yankee nuclear plant located near Brattleboro, VT, which it acquired in July.

Energy Commodity Services are comparable to the same quarter of 2001, said Entergy, which benefited from increased profitability in trading “across all products, including power, gas and weather.” The Energy Commodity Services unit includes the operations of Entergy-Koch, the company’s provider of wholesale marketing and trading, and Entergy’s non-regulated wholesale assets. Third quarter earnings also will be positively impacted by a special item of 10 cents a share, which is associated with the gain recorded on the sale of two development projects in Spain, said Entergy.

Entergy will release its third quarter earnings on Oct. 30.

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