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 (NYSE: ETR) has announced a quarterly dividend increase to $0.95 per share, up by $0.02. The dividend will be payable on Dec. 1, 2020, to shareholders on record as of Nov. 12, 2020. This marks a continuation of dividend payments since 1988. Entergy serves 2.9 million utility customers across Arkansas, Louisiana, Mississippi, and Texas, with annual revenues of $11 billion and a generating capacity of approximately 30,000 megawatts.
Entergy Corporation (NYSE: ETR) reported Q3 2020 earnings of $2.59 per share as-reported and $2.44 adjusted, reflecting strong performance despite challenges. Total earnings reached $521 million, up from $365 million in Q3 2019. The company's adjusted EPS guidance for 2020 is narrowed to $5.60-$5.70. Noteworthy projects include the launch of the Capital Region Solar facility in Louisiana. However, the Utility segment reported lower sales volume due to COVID-19 and Hurricane Laura, impacting overall results.
Entergy Corporation (NYSE: ETR) is set to release its third quarter 2020 financial results before the market opens on October 28, 2020. A conference call to discuss these results will occur at 10 a.m. CT the same day, available via webcast and phone. Entergy operates with approximately 30,000 megawatts of generating capacity, including 8,000 megawatts of nuclear power, serving 2.9 million customers in the southern U.S. The company anticipates sharing revised materials on its website around this event.
Entergy continues power restoration efforts after Hurricane Delta significantly impacted its service territory. As of Sunday morning, approximately 224,000 customers remain without power, down from a peak of 495,000. Delta made landfall as a Category 2 storm in Louisiana, causing widespread damage. Restoration efforts have already restored power to 54% of affected customers. Entergy's storm team of nearly 13,600 workers is employing drones and helicopters to assess damages. The company focuses on restoring critical infrastructure first before addressing other outages.
Entergy Corporation (NYSE: ETR) reported significant progress in power restoration efforts following Hurricane Laura, which impacted over 900,000 customers. As of September 22, 2020, approximately 99% of those affected have had power restored. The storm caused extensive damage to Entergy's infrastructure, including more than 600,000 outages and estimated restoration costs between $1.5 billion and $1.7 billion. Entergy expects utility revenues to be adversely impacted by around $35 million to $40 million due to these outages while affirming its 2020 adjusted earnings guidance of $5.45 to $5.75 per share.
Entergy Texas has announced a quarterly dividend of $0.336 per share of preferred stock, payable on October 15, 2020, to shareholders of record as of September 30, 2020. This dividend reflects the company's ongoing commitment to returning value to its investors. Entergy Texas serves approximately 461,000 customers across 27 counties, contributing to Entergy Corporation's total annual revenues of $11 billion.
Entergy Corporation (NYSE: ETR) will host its 2020 Virtual Analyst Day on Thursday, Sept. 24, 2020, from 1:00 p.m. to 3:30 p.m. ET. Presentations will be led by Chairman and CEO Leo Denault and the executive management team. A guest speaker will follow the business session. The event will be accessible via webcast on Entergy's website. Presentation slides will be available after market close on Sept. 23, 2020, and a replay will also be provided.
Entergy serves 2.9 million customers across four states.
Entergy Arkansas, LLC, a subsidiary of Entergy Corporation (NYSE: ETR), announced the redemption of two series of First Mortgage Bonds totaling $325 million. On October 14, 2020, it will redeem $200 million of 4.90% Bonds maturing in 2052 and $125 million of 4.75% Bonds maturing in 2063. The redemption price for both bonds will be 100% of their principal, plus accrued interest. These bonds are listed on the NYSE under the symbols EAB and EAE. Entergy Arkansas serves approximately 715,000 customers and has annual revenues of around $11 billion.
Entergy is mobilizing a storm team to assess and restore power after Hurricane Laura, a Category 4 hurricane, made landfall in Louisiana, causing extensive damage and power outages for approximately 360,000 customers across Louisiana and Texas. The company has deployed over 13,000 personnel from 27 states to expedite restoration efforts, focusing first on critical infrastructure such as hospitals and water treatment plants. Entergy urges customers to be patient and to keep streets clear for emergency services while restoration continues in the wake of the storm.
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