Entergy Corp Stock Price, News & Analysis

Entergy Corporation has announced the planned retirement of CEO Leo P. Denault in 2023 after 23 years with the company. The board has elected Chief Financial Officer Andrew Marsh as the next CEO, effective November 1. Denault will remain as executive chairman during the transition, supporting Marsh and the leadership team. Under Denault's leadership, Entergy has focused on sustainable value creation, expanding its customer base to 3 million and advancing its renewable energy strategies. The leadership transition aims to sustain the company's momentum in the energy sector.

Entergy Corporation (NYSE: ETR) reported Q2 2022 earnings per share of 78 cents as-reported and $1.78 adjusted, marking significant improvement from a loss in Q2 2021. Key drivers included increased retail sales due to customer growth and weather impacts. The company affirmed its 2022 adjusted EPS guidance range of $6.15 to $6.45, expecting results in the top half. Significant developments included completion of the 100 MW Sunflower Solar Station, the sale of Palisades, and increased renewable energy initiatives in E-AR and E-TX.

On July 29, 2022, Entergy's board declared a quarterly dividend of $1.01 per share on common stock, payable on Sept. 1, 2022. Shareholders of record as of Aug. 11, 2022 will receive this dividend. Notably, Entergy has maintained a continuous cash dividend for shareholders since 1988, reflecting the company's commitment to returning value to investors. Entergy operates in multiple states, providing energy to approximately 3 million customers, while focusing on a cleaner energy future.

Entergy will announce its second-quarter 2022 financial results on August 3, 2022, before the market opens. A live webcast discussion featuring CEO Leo Denault and CFO Drew Marsh will take place at 10 a.m. Central time on the same day. Investors can access the presentation materials and the archived replay on Entergy's Investor Relations website. Entergy serves 3 million customers across Arkansas, Louisiana, Mississippi, and Texas, focusing on a cleaner energy future with a diverse portfolio.

Entergy, serving 3 million customers, announces measures to alleviate financial strain from rising energy costs due to unprecedented temperatures and soaring natural gas prices. The company is allocating $10 million for bill payment assistance through programs like The Power to Care, waiving late fees and credit card payment fees for eligible customers, and organizing energy efficiency events. Entergy emphasizes its commitment to customer support amidst economic challenges while exploring additional solutions to enhance service reliability and efficiency.

Entergy announced the retirement of Paul Hinnenkamp, Chief Operating Officer, after a nearly 40-year career, effective August 12. Peter S. Norgeot Jr., current Senior Vice President of Operations, will succeed him. Hinnenkamp's tenure included the completion of four power plants ahead of schedule and the advancement of Entergy's sustainability strategy. He focused on safety and operational excellence. Norgeot has been with Entergy since 2014, overseeing strategies to reduce carbon emissions. This leadership transition aims to ensure continuity and future growth for Entergy.

Entergy New Orleans has filed a grid hardening and resilience plan with the New Orleans City Council, addressing the increased frequency of severe weather events impacting the Gulf Coast. The plan proposes approximately $1.5 billion in investments over ten years for grid resilience and includes projects like microgrids. Entergy's overall plans call for $15 billion investment, targeting over 30,000 miles of power lines and nearly 500,000 poles. These measures aim to reduce power outages and restoration costs amid more intense storms, following significant recent hurricanes.

Entergy has successfully completed the sale of the Palisades Power Plant to Holtec International, ensuring a safe decommissioning of the site. The plant, which ceased operations on May 20, 2022, was in service for over 50 years. This transaction also transfers the Big Rock Point site to Holtec and marks Entergy's exit from the nuclear merchant power business. The NRC approved the license transfer for decommissioning in December 2021, allowing Holtec to dismantle the facility by 2041, significantly faster than if Entergy retained ownership.

The board of Entergy Texas, Inc. has declared a quarterly dividend of $0.3359375 per share on its Series A Preferred Stock. This dividend is payable on July 15, 2022, to shareholders who are on record as of July 1, 2022. Entergy Texas serves over 486,000 customers across 27 counties, and is a subsidiary of Entergy Corporation (NYSE: ETR), offering diverse energy solutions and committing to a cleaner energy future.