Earnings Call Excerpt
Entergy Corporation, (ETR)
Q1 2006 Earnings Conference Call
May 2, 2006, 11:00 a.m. EST
Executives:
J. Wayne Leonard, Chief Executive Officer
Leo Denault, Executive Vice President and Chief Financial Officer
Curt L. Hébert, Jr. Executive Vice President, External Affairs
Richard Smith, Group President, Utility Operations
Michael Kansler, President, Entergy Nuclear Northeast
Mark T. Savoff, Executive Vice President, Operations
Michele Lopiccolo, Vice President, Investor Relations
Analysts:
Daniel Eggers, Credit Suisse
Steve Fleishman, Merrill Lynch
Ashar Khan, SAC Capital
Michael Lepides, Goldman Sachs
Greg Gordon, Citigroup
Shalini Mahajan, UBS
Paul Rizdon, KeyBanc Capital Markets
Presentation
Operator
Good day everyone and welcome to the Entergy Corporation First Quarter 2006 Earnings Conference Call. This call is being recorded. At this time, for opening remarks and introduction, I’ll turn the conference over to Michele Lopiccolo of Investor Relations. Please go ahead.
Michele Lopiccolo, Vice President, Investor Relations
Good morning and thank you for joining us. We’ll begin this morning with comments from our CEO, Wayne Leonard, and then Leo Denault, our CFO, will review results. After the Q&A session, I will close with the applicable legal statements. Wayne?
J. Wayne Leonard, Chief Executive Officer
Thanks Michele. Good morning everybody. Somebody once said that sin is the failure to reach your full potential; guilt is the unlived life. Under those criteria, given the events of the past year, we could all die happy men and women here at Entergy. The damage inflicted to our system over 120,000 sq. miles by the two worst natural catastrophes in our history was exceeded only by the extraordinary response of our employees. Many of whom were displaced from their homes, lost all their personal and real possessions, and were staring directly in the face at months to years of personal stress and trauma, and they never blinked. They’ve exceeded ones expectation of what is possible while living every hour of the very long, long days on the edge, in battle, living a life that matters.
Today, we’re conducting our earnings call from our New Orleans office. After eight months, scattered from Texas to Michigan, this week we finally returned home. The recent decision to return to New Orleans was as disciplined as any decision we’ve ever had to make. We studied some 172 different functional processes from every conceivable perspective, including numerous contingencies and linkages among the processes. Outside the tabletop analysis, we learned a lot over the last few months in the real, although it seems so real at times the world that we were living. In particular, we learned how we can more effectively conduct business through digital technology and dispersed employees using realtime information. While we have reopened our headquarters office in New Orleans, we have also established primary business offices in other locations to better align functional processes with business needs and to minimize the risk of business interruption in the future.
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