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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.
On May 30, 2024, at the New Orleans Jazz & Heritage Festival, Entergy partnered with the American Indian College Fund (AICF) to present a $50,000 grant to support Native American students' higher education. This marks the ninth consecutive year of collaboration, benefiting students from the United Houma Nation and others. Entergy Louisiana President Phillip May and VP for Corporate Social Responsibility Patty Riddlebarger emphasized the company's dedication to overcoming educational barriers. Since 2015, Entergy has funded over $315,000 in scholarships for 135 Native American students, addressing the community's educational underrepresentation. The AICF has aimed for a 60% graduation rate by 2025 and has awarded over 150,000 scholarships worth more than $280 million since its inception in 1989.
Entergy has been recognized as one of the top 50 community-minded companies in the US for the ninth year in a row, according to Points of Light's 2024 Civic 50 list. The company was also named the Utilities Sector Leader for the second consecutive year. Entergy's dedication to corporate citizenship includes more than 120,000 volunteer hours in 2023, valued at $3.8 million, and a total economic impact of nearly $140 million across Arkansas, Louisiana, Mississippi, and Texas. The company prioritizes addressing poverty, promoting education and workforce development, and providing financial assistance to vulnerable customers.
Entergy's 2023 performance report highlights the company's economic, environmental, governance, and social achievements. It includes key initiatives such as a $5.6 million customer bill assistance program during record summer heat and a $700,000 donation to support HBCU students through a new partnership aimed at closing the racial wealth gap. These efforts reflect Entergy's commitment to enhancing community prosperity and customer well-being.
Entergy, as a presenting sponsor, significantly contributed to the Bayou Regional FIRST Robotics Competition held in Kenner, Louisiana. This event, which spanned a week, drew hundreds of high school students from various regions to compete in designing, building, and programming industrial-scale robots. Entergy's Vice President of Marketing Sales and Customer Insights, Cory Ramsel, announced a $50,000 donation to support the initiative, reflecting Entergy's long-standing commitment to STEM education. Over the past decade, Entergy has invested over $4 million in robotics and engineering programs, advancing teams from Louisiana and Mississippi to the 2024 world championships in Houston. The competition aims to inspire and empower students to pursue careers in STEM, aligning with Entergy's mission to foster innovation and excellence in the future workforce.
Entergy IT announces three New Orleans students as recipients of its Technology College Scholarship. The scholarship program supports students pursuing technology-related degrees in fields like computer science and cybersecurity. The scholarship aims to build a local technology workforce and change lives. Registration for the next school year scholarship will open early in the fall.
Entergy CEO Drew Marsh shared a bold vision for improving stakeholder outcomes at the company's 75th annual meeting. The focus is on customer growth, cleaner energy, reliability, and resilience while maintaining affordability. Key achievements in 2023 include strong industrial sales, customer growth, renewable energy investments, and approvals for major resilience projects. Entergy is committed to meeting customer expectations and driving growth opportunities for the future.
Entergy released a performance report highlighting their achievements in 2023, covering financial results, environmental impacts, and social performance. The report emphasizes diversity, inclusion, and workforce development initiatives aimed at reflecting the communities they serve.
Entergy Mississippi celebrated its centennial by exceeding its goal of providing 100,000 meals to families in need, volunteering over 18,000 hours, and distributing energy efficiency kits to help customers save on bills. The company partnered with local organizations to give back to communities across Mississippi.
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