Entergy Corp. (ETR) said it estimates earnings of $6.15 to $6.95 per share, and earnings of $6.40 to $7.20 per share, on an operational basis, for fiscal 2010. Analysts polled by Thomson Reuters expect the company to report earnings of $6.77 per share for the quarter. Analysts' estimates typically exclude special items.
With line of sight on ultimate resolution in 2010, the board of Entergy has granted authority for an additional $750 million share repurchase program, following completion of an initial $500 million authorization in third quarter 2009.
While it is expected the additional share repurchases under the new authorization will occur following spin-off completion in the near-term, consistent with the $500 million authorization, the incremental $750 million of share repurchase capacity is supported by the underlying business operations whether or not the spin-off transaction is completed, the company noted.
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