8-KOther Events

ENTERGY CORP /DE/ 8-K Report (Feb 17, 2004)

Filed February 17, 2004For Securities:ETR

Summary

This Form 8-K filing by Entergy Corporation on February 17, 2004, primarily serves to furnish information related to a presentation given on February 12, 2004, at the UBS 2004 Natural Gas and Electric Utilities Conference. The key takeaway for investors is the reconciliation of non-GAAP financial measures, specifically 'operational earnings per share', to their GAAP equivalents. This reconciliation is provided as Exhibit 99 to the filing. The company emphasizes that these 'operational' metrics exclude the impact of 'special items,' which include routine events, prior period adjustments, or discontinued businesses. Entergy's management uses these non-GAAP measures to provide insights into the ongoing operational performance of its businesses and for comparison with industry peers. Investors are advised to consider these operational earnings in conjunction with, and not as a substitute for, GAAP-reported earnings per share.

Key Highlights

  • 1Entergy Corporation filed a Form 8-K on February 17, 2004, to supplement information from a prior presentation.
  • 2The filing includes Exhibit 99, which reconciles non-GAAP financial metrics to GAAP.
  • 3The primary non-GAAP measure discussed is 'operational earnings per share'.
  • 4Operational earnings per share excludes the impact of 'special items' such as routine events, prior period impacts, and discontinued businesses.
  • 5Management believes these non-GAAP measures offer useful insights into ongoing operational performance and facilitate peer comparisons.
  • 6Investors are cautioned that non-GAAP measures should be considered alongside, not as a replacement for, GAAP-reported figures.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with a reconciliation of Entergy's non-GAAP financial measures, specifically operational earnings per share, to the most directly comparable GAAP measures. This information stems from a presentation given at the UBS 2004 Natural Gas and Electric Utilities Conference on February 12, 2004.

'Special items' are defined by Entergy as events that are not routine, are related to prior periods, or are related to discontinued businesses. These are excluded from the company's 'operational earnings per share' calculation.

Entergy's management believes that financial metrics calculated using operational earnings provide a useful way for investors to evaluate the ongoing results of the company's businesses and to compare Entergy's operating performance to that of other companies in the energy sector.

Investors should consider the non-GAAP information in addition to, and not as a substitute for, or superior to, the earnings per share prepared in accordance with GAAP. This means GAAP figures remain the primary reported financial metrics.