8-KEarnings & ResultsFinancial EventsRegulation FD+1

ENTERGY CORP /DE/ 8-K Report, Financial Results (May 2, 2006)

Filed May 2, 2006For Securities:ETR

Summary

Entergy Corporation (ETR) filed an 8-K on May 2, 2006, reporting its first-quarter 2006 financial results through public earnings releases. The company also disclosed a significant repayment by its subsidiary, Entergy New Orleans, under a debtor-in-possession (DIP) credit facility. This repayment, amounting to $70 million, was primarily funded by an income tax refund related to the Gulf Opportunity Zone Act of 2005, reducing the outstanding balance on the DIP facility to $22 million as of April 28, 2006. Investors should note that these disclosures focus on operational results and specific financial obligations. While the earnings releases are incorporated by reference, the 8-K itself highlights the financial maneuverings of Entergy New Orleans. The reduction in the DIP credit facility suggests a step towards normalizing financial operations for the subsidiary, though the overall financial performance for the quarter will be detailed in the referenced earnings releases.

Key Highlights

  • 1Entergy Corporation announced its first quarter 2006 results of operations and financial condition via earnings releases filed on May 2, 2006.
  • 2Entergy New Orleans, a subsidiary, repaid $70 million under its debtor-in-possession (DIP) credit facility on April 28, 2006.
  • 3The repayment by Entergy New Orleans was primarily funded by an income tax refund associated with the Gulf Opportunity Zone Act of 2005.
  • 4As of April 28, 2006, the outstanding balance on Entergy New Orleans' DIP credit facility was reduced to $22 million.
  • 5The filing serves to furnish information from the earnings releases under Regulation FD and for results of operations disclosure.
  • 6An exhibit regarding the uses and usefulness of non-GAAP information was also provided.

Frequently Asked Questions

This 8-K primarily reports Entergy Corporation's first-quarter 2006 financial results, made public through earnings releases. Additionally, it details a $70 million repayment made by Entergy New Orleans on its debtor-in-possession credit facility, funded largely by a tax refund from the Gulf Opportunity Zone Act of 2005.

Entergy New Orleans utilized funds primarily from an income tax refund received under the special provisions of the Gulf Opportunity Zone Act of 2005 to make the $70 million repayment on its DIP credit facility.

Following the $70 million repayment on April 28, 2006, the outstanding borrowings under Entergy New Orleans' debtor-in-possession credit facility were reduced to $22 million.

The detailed information regarding Entergy Corporation's first-quarter 2006 results of operations and financial condition is contained within the earnings releases (Exhibits 99.1 and 99.2) that are incorporated by reference into this 8-K filing.