Entergy Corporation - ETR STOCK NEWS

Entergy Corporation (NYSE: ETR) announced preliminary estimated timelines for power restoration following Hurricane Ida, which impacted nearly 950,000 customers in Louisiana and Mississippi. As of September 3, power has been restored to about 225,000 customers. Over 14,000 poles and 2,223 transformers were damaged. Restoration efforts involve 26,000 professionals and are ongoing, with various communities receiving power back as early as September 3. The company faces challenges from extensive storm damage and COVID-19 measures but remains committed to keeping communities updated.

Entergy Corporation (NYSE: ETR) has made significant progress in restoring power after Hurricane Ida's devastation in Southeast Louisiana and Mississippi. Over 107,000 customers have regained electricity, with the New Orleans Power Station supplying initial power to the Greater New Orleans area. The storm impacted approximately 950,000 customers, second only to Hurricane Katrina. Restoration efforts continue with 21,000 workers from 38 states involved in damage assessment and service restoration. Entergy emphasizes safety as crews tackle extensive damage, including over 5,800 downed poles and 1,400 damaged transformers.

Entergy Texas Inc. announced the retirement of Sallie Rainer, president and CEO, effective November 14, 2021, after over 37 years with the company. Rainer, who has led initiatives to modernize infrastructure and improve customer service since 2012, will be succeeded by Eliecer "Eli" Viamontes, the current vice president of utility distribution operations. Under Rainer's leadership, Entergy Texas invested over $2 billion in new assets and earned top recognition from JD Power & Associates for customer service. Viamontes aims to continue enhancing services for approximately 473,000 customers in Texas.

Entergy Corporation (NYSE: ETR) reported a Q2 2021 loss of $6 million, or (3) cents per share, on an as-reported basis, contrasted with Q2 2020 earnings of $361 million, or $1.79 per share. Adjusted earnings were $1.34 per share, just slightly below the prior year's $1.37. Key highlights included the completion of the Indian Point sale resulting in a $340 million impairment and various regulatory approvals for new projects. Entergy affirmed its adjusted EPS guidance for 2021 at $5.80 to $6.10, expecting to perform in the upper half of this range.

Entergy Corporation (NYSE: ETR) has declared a quarterly dividend of $0.95 per share, payable on September 1, 2021, to shareholders of record as of August 12, 2021. This consistent dividend payment underscores the company's commitment to returning value to shareholders since 1988. Entergy, which serves 3 million customers across Arkansas, Louisiana, Mississippi, and Texas, boasts an annual revenue of $10 billion and operates a fleet with a generating capacity of approximately 30,000 megawatts, including 7,000 megawatts from nuclear power.

Entergy Texas has initiated plans to seek approval for the construction of the Orange County Advanced Power Station, a 1,215-megawatt dual fuel facility located near Bridge City, Texas. This plant aims to meet increasing energy demands in Southeast Texas and is projected to provide approximately $1.5 billion in net benefits to customers by reducing reliance on energy markets. The project is expected to generate over 7,000 direct jobs during construction and almost $1.8 billion in economic activity.

The facility will incorporate hydrogen fuel, ensuring zero carbon emissions and promoting long-term sustainability.

Entergy Corporation will release its second-quarter 2021 financial results on August 4, before the market opens. Company leadership will discuss these results on a conference call at 10 a.m. CT that same day, accessible via webcast or by phone. Entergy, which serves 3 million customers across four states, boasts an annual revenue of $10 billion and approximately 12,500 employees. The company is recognized for its clean energy production, with a generating capacity of around 30,000 megawatts.

The board of directors of Entergy Texas (NYSE: ETI-PR) has declared a quarterly dividend of $0.336 per share on its preferred stock. This dividend will be payable on July 15, 2021, to shareholders of record as of July 1, 2021. Entergy Texas serves approximately 473,000 customers across 27 counties and is a subsidiary of Entergy Corporation, which operates one of the cleanest large-scale power generating fleets in the U.S.

Entergy Corporation (NYSE: ETR) has successfully completed the sale of the Indian Point Energy Center to a subsidiary of Holtec International, aiming to expedite decommissioning activities by decades. The facility's final operating unit, Unit 3, was shut down on April 30, 2021, after 45 years of operation. This sale follows regulatory approvals from the U.S. Nuclear Regulatory Commission and the New York State Public Service Commission. Entergy is transitioning away from nuclear operations, with plans for further divestments.