Welcome to our dedicated page for Entergy Corporation news (Ticker: ETR), a resource for investors and traders seeking the latest updates and insights on Entergy Corporation stock.
Entergy Corporation (NYSE: ETR) is a leading integrated energy company primarily engaged in electric power production and retail distribution operations. With its headquarters in New Orleans, Louisiana, Entergy owns and operates power plants with a total capacity of approximately 30,000 megawatts, including over 10,000 megawatts of nuclear power, making it one of the largest nuclear generators in the United States. The company provides electricity to about 3 million customers across Arkansas, Louisiana, Mississippi, and Texas through its five regulated utilities.
Entergy is dedicated to delivering reliable and affordable energy while maintaining a strong focus on sustainability and corporate citizenship. The company is committed to transitioning to cleaner, more efficient energy solutions, as demonstrated by its significant investments in renewable energy and grid resilience. Entergy is also known for its economic contributions, providing over $100 million annually in benefits to local communities through philanthropy, volunteerism, and advocacy.
In 2023, Entergy reported annual revenues exceeding $11 billion and employed approximately 15,000 people. The company's financial performance was highlighted by fourth-quarter earnings of $988 million on an as-reported basis and $111 million on an adjusted basis. For the full year, Entergy's earnings were $2,357 million on an as-reported basis and $1,438 million on an adjusted basis. These results underscore Entergy's focus on operational excellence and customer satisfaction.
Recent achievements include the resolution of the 2016-2018 IRS audit, which resulted in a $568 million income tax benefit, and the successful execution of clean energy projects to support a growing customer base. Entergy's strategic initiatives also encompass partnerships with organizations like Feed the Second Line's Get Lit, Stay Lit clean energy initiative, and its sponsorship of the Bayou Regional FIRST Robotics Competition, which underscores its commitment to STEM education and community development.
Looking forward, Entergy has initiated its 2024 adjusted EPS guidance range from $7.05 to $7.35, projecting a stable financial outlook. The company remains focused on delivering meaningful value to its stakeholders while advancing its goals of sustainability and reliability in the energy sector.
Entergy has announced its platinum sponsorship of the 51st Bayou Classic, a prestigious annual football game between Southern University Jaguars and Grambling State University Tigers that celebrates Historically Black Colleges and Universities (HBCUs). The event, drawing over 200,000 people to New Orleans, will take place on November 30 at the Caesars Superdome. As part of its commitment to HBCUs, Entergy has pledged a $20 million, 10-year investment through The Power of Prosperity program to support education, career readiness, and workforce development across Arkansas, Louisiana, Mississippi, and Texas.
Entergy joins Utilities United Against Scams to support International Fraud Awareness Week and recognize Utility Scam Awareness Day. The initiative aims to educate customers about common utility impostor scams, which caused a median loss of $463 per victim in 2023 according to the BBB.
The top 10 scams include: disconnection deception, bill payment cons, equipment repair fees, overpayment tricks, power restoration rip-offs, phishing variants (smishing, vishing, quishing), contractor cons, home improvement schemes, solar scams, and bogus bills. To protect customers, Entergy emphasizes using only authorized payment methods and verifying the identity of utility workers.
Entergy Arkansas raised $126,826 at its 20th annual Power to Care Charity Golf Classic, which will be matched by Entergy shareholders for a total of over $250,000. The event, held at The Country Club of Arkansas, featured 38 teams and exceeded last year's sponsorship goal of $60,000. Diamond Sponsor Doggett Freightliner contributed $10,000, while Platinum Sponsors Midwest Transformers and A-Line TDS each donated $7,500. The funds will help more than 400 elderly and disabled customers pay their utility bills, supporting those facing financial hardship.
Entergy has received the HIRE Vets Gold Medallion Award from the U.S. Department of Labor for the seventh consecutive year, recognizing its excellence in veteran employment. The company was honored alongside 838 other recipients during a virtual ceremony by Acting Secretary of Labor Julie A. Su. Entergy's Veterans Employee Resource Group (VERG) plays a important role in veteran integration, offering leadership programming, dedicated HR efforts, pay compensation, and tuition assistance programs. The company meets strict criteria for veteran hiring and retention, demonstrating its commitment to leveraging veterans' military-acquired skills in the workplace.
Entergy Mississippi has broken ground on the Delta Blues Advanced Power Station in Greenville, Mississippi, a $1.2 billion investment set to replace the retiring Gerald Andrus Steam Electric Station. The new 754-megawatt facility will power 385,000 homes across 45 counties when operational in 2028. The project will create over 300 construction jobs and employ 21 full-time personnel. The plant will use combined-cycle combustion turbine technology with natural gas as primary fuel, designed to support blended hydrogen for reduced carbon emissions.
Entergy has awarded $150,000 to Refill Jackson Initiative for their Refill Jackson Green Corps program, a new workforce training AmeriCorps initiative in Jackson, Mississippi. The 5-month program combines environmental stewardship with workforce development, enabling young adults to improve water quality along the Pearl River watershed, remove debris from flood-prone areas, and clean up West Jackson neighborhoods. Participants will earn construction credentials, stipends, and water quality testing certification from Mississippi State University's Extension Services. The funding comes through Entergy's Environmental Initiative Fund, which has been supporting environmental projects across the company's four-state service area since 2001.
Entergy announced its participation in the upcoming Edison Electric Institute Financial Conference, scheduled from November 10-12, 2024. CEO Drew Marsh and senior management will engage with investors during the event. The company will make meeting materials available on their investor relations website on November 8, 2024, accessible through the events and presentations section.
Entergy has been recognized among the top 25 workplace giving contributors for St. Jude Children's Research Hospital, with employee donations exceeding $230,000 through payroll contributions. The announcement was made on August 29, 2024, during the company's Northern Regional employee meeting.
The donations, matched dollar-for-dollar by company shareholders, span across Arkansas, Louisiana, Mississippi, and Texas. These contributions help St. Jude provide cutting-edge treatments at no cost to families, contributing to increasing childhood cancer survival rates from 20% to over 80% since 1962.
The recognition ceremony included a check presentation with executives from ALSAC, St. Jude's fundraising organization, highlighting Entergy's commitment to powering life beyond energy services through strategic community partnerships.
Entergy (NYSE: ETR) reported third quarter 2024 earnings per share of $2.99 on both as-reported and adjusted basis. The company narrowed its 2024 adjusted EPS guidance range to $7.15-$7.35 (pre-split). Key developments include approval of significant investments across operating regions, new solar projects, and a planned two-for-one stock split effective December 13, 2024. The Board declared a quarterly dividend increase of 6% to $1.20 per share. Third quarter consolidated earnings were $645 million, compared to $667 million in Q3 2023. The Utility business reported earnings of $787 million, while Parent & Other reported a loss of $(142 million).
Entergy has announced a quarterly dividend increase of $0.07 per share, bringing the total dividend payment to $1.20 per share. The dividend will be paid on December 2, 2024, to shareholders of record as of November 13, 2024. The company highlights its consistent track record of paying cash dividends to shareholders continuously since 1988.
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