Entergy Posts Higher Q1 Retail Electricity Sales

-- Entergy (ETR) reported Q1 earnings on Wednesday, showing consolidated electricity sales rose to 30.7 gigawatt-hour, up from 29.4 GWh for the same period a year ago.

Industrial sales jumped 14.9% to 15.9 GWh compared to 13.8 GWh the previous year, despite a slight 0.9% drop in the number of industrial customers.

Residential sales fell 8.3% to 8.06 GWh in Q1 compared to 8.8 GWh for the corresponding period a year earlier. Commercial sales slipped slightly to 6.23 GWh during the quarter, down from 6.24 GWh, as governmental sales declined 0.9% to 555 GWh.

Total customer accounts grew 0.7% to just over 3.06 million in Q1, up 3.04 million, buoyed by a 5.8% rise in governmental customers and a 0.8% increase in residential accounts.

Wholesale volumes surged 70.7% to 2.79 GWh, contributing to an overall 8% increase in total electricity sold to reach 33.5 GWh.

Price: $116.51, Change: $+3.35, Percent Change: +2.96%

RBC Maintains First Quantum's Outperform Rating, C$45 Price Target

RBC Capital Markets maintained its outperform, speculative risk, rating on the shares of First Quantum Minerals (FM.TO)' and its C$45.00 price target following the company's first-quarter results.RBC expects a modest negative reaction to the results, given a headline miss on EBITDA and adjusted earnings per share.The company reported a first-quarter EBITDA of US$326 million, below RBC's forecast of US$461 million and the consensus estimate of US$448 million.Adjusted loss of US$0.18 per share also missed RBC's EPS forecast of US$0.01 per share and the consensus estimate of US$0.06 per share.First Quantum's financial results were impacted by US$144 million of losses on hedges and from lower sales due to timing and inventory replenishment.Price: $33.64, Change: $-0.65, Percent Change: -1.90%

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US Equity Indexes Fall as Iran War Deadlock Sends Crude Oil, Treasury Yields Sharply Higher

US equity indexes traded lower around midday Wednesday as crude oil futures and government bond yields rose amid concern that Iran's blockade will be extended to force Tehran into a peace deal.The Dow Jones Industrial Average fell 0.7% to 48,789.2, with the S&P 500 down 0.2% to 7,122.9. The Nasdaq Composite was 0.2% lower at 24,620.7.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ said.Trump assessed with his aides that the other options open to him -- resume bombing or walk away from the conflict -- carried more risk than maintaining the country's blockade, the officials told the WSJ."Iran can't get their act together. They don't know how to sign a nonnuclear deal. They better get smart soon!" Trump said in a Truth Social post Wednesday.Meanwhile, West Texas Intermediate crude oil futures jumped 4.9% to $104.86, and Brent crude futures surged 5% to $116.85 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.

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Entergy Posts Higher Q1 Retail Electricity Sales

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