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 Corporation recently announced its partnership with The American Heart Association to sponsor the STEM Goes Red event, aimed at encouraging young women to pursue careers in Science, Technology, Engineering, and Mathematics (STEM). Held at Xavier University, the event engaged over 90 students from various schools and included networking and mentorship opportunities.
Vice President of Corporate Social Responsibility, Patty Riddlebarger, emphasized the importance of increasing diversity in STEM fields, noting that while women occupy nearly half of the workforce, only 26% are in STEM roles. This initiative seeks to empower young women, particularly minorities, to explore these fields.
On March 30, 2023, RWE and Entergy signed a Memorandum of Understanding to explore the offshore wind energy market in the Gulf of Mexico. This partnership aims to assess five key areas including market demand for carbon-free energy, transmission reliability, and economic impacts such as job creation. RWE's CEO, Sam Eaton, highlighted the strategic advantages of the existing oil and gas supply chain in the region. Entergy, serving approximately 3 million customers, is committed to net-zero emissions by 2050 and plans to triple its renewable resources in the coming years. The partnership positions both companies to enhance the clean energy landscape in Texas and Louisiana.
The board of directors of Entergy Texas has declared a quarterly dividend of $0.3359375 per share on its Series A Preferred Stock. This dividend will be payable on April 15, 2023, to shareholders of record as of April 4, 2023. Entergy Texas serves nearly 500,000 customers across 27 counties and is part of Entergy Corporation, which provides energy to 3 million customers in the U.S. Entergy is recognized for its commitment to sustainability and has contributed over $100 million annually to local communities since 2018.
Entergy Louisiana is pursuing a significant renewable power expansion, filing a request with the Louisiana Public Service Commission on March 13 for approval to add 3 gigawatts of solar power. This expansion follows an earlier request for 225 megawatts of solar energy. With a total of 3,225 megawatts now in the approval queue, Entergy aims to enhance its generation portfolio and support state economic growth while reducing its carbon footprint. Current renewable resources total 280 megawatts, contributing to 25% of its portfolio being carbon-free. Entergy's broader goal is to achieve 15 to 17 gigawatts of renewables by 2031.
Entergy Louisiana has submitted a request to the Louisiana Public Service Commission to add up to three gigawatts of solar power, marking the largest renewable expansion request in state history. This proposal builds on an earlier request for nearly 225 megawatts and aims to enhance local economic development through job creation and increased tax revenues. The total solar power in the approval queue now reaches 3,225 megawatts. Entergy's efforts support its commitment to achieve net-zero carbon emissions by 2050, aligning with its long-term renewable goals of 15 to 17 gigawatts by 2031.
Entergy Corporation participated in LIHEAP Action Day on February 15 and 16, 2023, in Washington, D.C., advocating for the federal Low Income Home Energy Assistance Program. Partnering with four action agencies, Entergy met with 24 congressional offices to highlight the importance of LIHEAP for low-income households facing rising energy costs, especially due to extreme weather and inflation. In Entergy's service areas, approximately 3.84 million households are eligible for LIHEAP, but only about 12% receive assistance. The company continues to host outreach events to increase LIHEAP awareness and support applications for energy assistance.
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