UPDATE 1-Entergy Q3 earnings to slip as cost rise

Published: 15 Oct 2009 05:22:56 PST

* Prelim EPS ex-items of $2.39, below Wall St's $2.55

* Says utility earnings hurt by higher costs

* Shares unchanged at $78.82

NEW YORK, Oct 15 - Power company Entergy Corp said Thursday it would report lower third-quarter earnings per share -- which would be below analysts' estimates -- as higher costs trimmed profits at its regulated utility business.

Preliminary net profit for the third quarter fell to $2.31 per share from $2.41 per share in the year-ago quarter, including a charge related to the spinoff of some of its nuclear power plants, it said.

Excluding one-time items, preliminary operational earnings per share fell to $2.39 -- missing analysts' average forecast of $2.55 per share, according to Thomson Reuters I/B/E/S.

Entergy will release its full earnings on Oct. 22.

The company stuck to its forecast for full-year earnings excluding extraordinary items of $6.20 per share to $6.80 per share.

Shares in the company were unchanged in premarket trade at $78.82.