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 celebrates National Hispanic Heritage Month by collaborating with Hispanic partners and community leaders to uplift Latino voices. Key highlights include:
- Entergy New Orleans and Entergy Louisiana honored as Corporate Partner of the Year at the Hispanic Chamber Excelencia Gala
- Sponsorship of a session at the 47th annual Congressional Hispanic Caucus Institute Leadership Conference
- Participation in Kids to College Hispanic outreach initiatives
Patty Riddlebarger, Entergy's vice president of corporate social responsibility, emphasized the importance of Latino representation in corporations. Community partners from Arkansas, Louisiana, Mississippi, and Texas were invited to the conference, along with college students representing the next generation of Latino leaders. Entergy remains committed to honoring Latino cultural contributions and investing in future leaders.
Entergy is sending power restoration teams to Florida in anticipation of Hurricane Milton's landfall. More than 1,000 employees and contractors currently supporting Hurricane Helene restoration efforts will be deployed, with approximately half remaining to support Helene restoration and the other half moving to Florida. Milton, currently a Category 5 hurricane, is forecast to make landfall as a Category 3 or 4, bringing catastrophic storm surge and damaging winds to the Florida Peninsula.
Louis Dabdoub, vice president of incident response, expressed gratitude for the team's ability to help and pride in the company's commitment to assisting industry peers. The deployment is part of long-standing mutual assistance agreements between utilities. Entergy participates in four different mutual assistance organizations, meeting bi-annually and providing labor and materials when needed.
Jackson State University (JSU) has received a $2 million grant from the Entergy Charitable Foundation to create the Critical Power Grid Network Security Lab. This initiative aims to train a highly skilled cybersecurity workforce for the energy sector. The lab will provide students with real-world experience in safeguarding critical power grid infrastructure.
The project addresses the growing cybersecurity workforce gap, with a reported shortage of 3.4 million cybersecurity professionals worldwide in 2022. JSU is evolving its cybersecurity education curriculum to bridge this gap. The grant will be distributed over multiple installments, focusing exclusively on developing the lab for cybersecurity in the nuclear, energy, and natural gas sectors.
This partnership between JSU and Entergy is expected to have a lasting impact on students' lives and the future of the energy sector, contributing to workforce development and national infrastructure protection.
Entergy Mississippi has donated $650,000 through its Beat the Heat program to assist low-income customers during the summer. The initiative provided bill payment assistance, fans, energy efficiency kits, and home weatherization. Key aspects of the program include:
- Over $641,000 donated to The Power to Care program for energy bill assistance
- More than $9,000 in grants for free resources like electric fans and weatherization kits
- Distribution of 200 free electric fans and 650 energy efficiency kits
- A customer engagement event serving 400 customers with various resources
Entergy Mississippi aims to support vulnerable customers in managing their energy bills and staying comfortable during extreme temperatures.
Three Entergy Louisiana employees were honored with certificates of commendation from Baton Rouge Mayor-President Sharon Weston Broome for their stakeholder engagement efforts during and after Hurricane Francine. Seth Schilling, Desiree Harris, and Traye Granger were recognized for their dedication to the community in the storm's aftermath.
The hurricane made landfall as a Category 2 storm on Sept. 11, affecting over 300,000 Entergy customers. Mayor Broome praised the Entergy team for effective communication and strong stakeholder engagement, emphasizing their quick and coordinated efforts in restoring critical services.
Entergy Louisiana continues to invest in improving service reliability and strengthening the state's power grid. The Louisiana Public Service Commission recently approved phase one of the company's comprehensive grid resilience program, a five-year initiative expected to help avoid up to $1.2 billion in storm restoration costs.
Entergy Arkansas has donated nearly $380,000 through its "Beat the Heat" program to help low-income customers manage energy costs during the summer of 2024. The program provided:
- Over $300,000 in bill assistance through The Power to Care program
- More than $12,000 in grants for electric fans and weatherization kits
- 600+ free electric fans
- 70 energy efficiency kits
- Free access to Single Stop, an online resource for financial assistance
- In-person customer service events offering various resources
- Support for home weatherization
Ventrell Thompson, VP of customer service, emphasized Entergy's commitment to helping customers manage energy costs during high-usage periods.
Entergy New Orleans has donated $383,025.25 through its 'Beat the Heat' program to assist low-income customers during the summer. The initiative provides bill payment assistance, fans, energy efficiency kits, and home weatherization. Entergy's efforts include:
- Donating over $3 million to The Power to Care program
- Providing free access to Single Stop, an online resource for financial assistance
- Awarding $7,500 in grants for fans and weatherization kits
- Distributing 100 free electric fans and 100 energy efficiency kits
- Weatherproofing 4 low-income homes
Entergy New Orleans aims to support vulnerable customers facing increased energy costs due to extreme temperatures. The company collaborates with local organizations to provide resources and assistance throughout the critical summer months.
Entergy has announced key leadership changes effective Oct. 1, 2024. Liz Hunter has been appointed as vice president of investor relations, reporting to CFO Kimberly Fontan. Hunter, with over 20 years of experience in financial analysis, will lead Entergy's interactions with the investment community and communicate the company's strategy. She succeeds Bill Abler, who will transition to lead the company's system planning organization.
Hunter, currently serving as director of investments and cash management, has been with Entergy since 2003. In her new role, she will lead the investor relations team and provide counsel to executive management and the board on Wall Street perspectives.
Abler, in his new position, will lead Entergy's system planning and operations organization, reporting to COO Pete Norgeot. He will focus on advancing the company's customer-focused business strategy while delivering safe, reliable, and affordable energy.
Entergy has announced that Rod West, group president of utility operations, will retire on Jan. 31, 2025, after more than 25 years with the company. Starting Nov. 1, 2024, West will serve as a strategic advisor to Entergy's Chair and CEO, Drew Marsh, and the executive team to ensure a smooth transition.
West has been responsible for the operational and financial performance of Entergy's utility companies in Arkansas, Louisiana, Mississippi, and Texas. His contributions include positioning the company for regional industrial growth, modernizing the energy grid, and improving customer focus. Notable recent successes under his leadership include Entergy Mississippi's partnership with Amazon Web Services and Entergy Louisiana's approval for a $1.9 billion investment in grid resilience over five years.
Crescent Midstream has been chosen to develop an integrated carbon capture and sequestration (CCS) project for Entergy 's 994 MW Lake Charles Power Station in Westlake, Louisiana. The project, valued at approximately $1 billion, aims to capture and transport 3 million metric tonnes of CO2 per year, equivalent to the annual emissions of 600,000 motor vehicles. This collaboration involves SAMSUNG E&A and utilizes Honeywell's carbon capture technologies.
The project is set to be one of the largest CCS initiatives in the United States, targeting the Louisiana Gulf Coast, the second-largest CO2-emitting state. Crescent Midstream will leverage its extensive pipeline experience to safely transport CO2 from emitters to permanent underground storage facilities. This aligns with Crescent's commitment to corporate sustainability, which includes sponsoring efforts to plug orphaned oil wells and preserve marshlands in Louisiana.
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