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 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.
Entergy Louisiana and Entergy New Orleans announced the launch of a child savings account program called Kids to College, aimed at supporting low- and moderate-income families in Louisiana. The companies will donate $175,000 to help families establish savings accounts, providing a $50 match for eligible participants. Families must meet specific income thresholds and register through the Kids to College portal. The initiative, powered by an endowment in honor of former Chairman J. Wayne Leonard, underscores Entergy's commitment to enhancing education and community opportunities.
Entergy Louisiana has submitted a request to the Louisiana Public Service Commission to approve two solar projects totaling nearly 225 megawatts. The projects, located in Iberville and Ouachita Parishes, aim to enhance the company's renewable energy portfolio in response to customer demand. If approved, construction is set to begin in Spring 2024, with the Iberville facility operational by late 2025 and Sterlington Solar Facility by early 2026. This initiative aligns with Entergy's sustainability goals and builds on its existing 280 megawatts of renewable resources.
Entergy announced the election of two new board members, Gina Adams and John Black, enhancing its leadership with expertise in accounting and external affairs. Adams has nearly 40 years of experience in government and regulatory affairs, currently serving at FedEx, while Black has a similar tenure in public accounting, recently retiring from Deloitte & Touche. Both bring valuable insights to Entergy's board, aligning with the company's goal to strengthen its utility leadership. CEO Drew Marsh remarked their backgrounds will benefit stakeholders including customers and communities.
Entergy Corporation (NYSE: ETR) reported Q4 2022 earnings per share of 51 cents, marking a decline from $1.28 in Q4 2021. For the full year, reported EPS was $5.37, down from $5.54 year-over-year. The company initiated its 2023 adjusted EPS guidance in the range of $6.55 to $6.85. Key positive developments included regulatory approvals for multiple projects and recognition for sustainability efforts. However, financial metrics displayed substantial impacts from regulatory charges and rising operating expenses. Entergy remains focused on delivering value through clean energy and resilience initiatives.
Entergy Corporation (NYSE: ETR) is set to announce its 2022 financial results on February 16, 2023, before the market opens. A live webcast will be hosted by CEO Drew Marsh and CFO Kimberly Fontan at 10 a.m. Central time on the same day, with presentation materials available on their Investor Relations website ahead of the announcement. Entergy operates across several states, serving approximately 3 million customers and focusing on a cleaner, resilient energy future with carbon-free energy sources.
On January 27, 2023, Entergy's board announced a quarterly dividend of $1.07 per share, payable on March 1, 2023. Shareholders of record by February 10, 2023 will receive this payment. Entergy has a strong history of continuous cash dividends since 1988. The company serves approximately 3 million customers across Arkansas, Louisiana, Mississippi, and Texas, focusing on carbon-free energy generation in a commitment to a cleaner energy future.
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