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It's Time to Take Profits on These 2 Overbought Energy StocksEntergy NYSE: ETR reported second-quarter adjusted earnings of $1.03 per share and said it remains on track to meet its 2026 adjusted earnings guidance and longer-term outlook through 2030.

Chair and CEO Drew Marsh said the utility’s growth outlook continues to be supported by demand from technology-sector customers, traditional industrial customers and broader economic development across its four-state Gulf South service territory. While technology customers represent the largest contributor to demand growth in Entergy’s five-year plan, Marsh said the company continues to see substantial interest from industrial segments.

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Tariff Fatigue? Look to These 3 Stocks for UpsideEntergy’s pipeline includes potential demand of 7 gigawatts to 12 gigawatts from hyperscale data centers, along with 3 gigawatts to 5 gigawatts of interest from traditional industrial customers. Marsh said interest in large-scale projects has continued to increase since the company’s Investor Day, though he noted that much of the newest activity remains at the indication-of-interest stage rather than fully developed proposals.

Data Center Growth and Customer Protections Management emphasized its “Fair Share Plus” pledge, under which data center customers are expected to pay their full cost to be served as well as an appropriate share of fixed system costs. Marsh said agreements signed so far are expected to produce $7 billion in customer bill benefits.

These 3 Stocks Look to Power AI Data Centers With Natural GasMarsh pointed to Louisiana Gov. Jeff Landry’s executive order, signed in late June, as support for this approach. The order requires new data centers seeking state sales-tax exemptions to demonstrate customer protections, grid-resilience and reliability investments, meaningful community benefits and transparency. Marsh said the state cited Meta’s investment in Richland Parish as an example meeting those standards.

During the question-and-answer session, Marsh said data center development continues to receive strong support in Louisiana, Mississippi and Arkansas, though he acknowledged that concerns have arisen in some communities. New Orleans currently has a moratorium on data centers, he said, and Entergy expects to work with the city to address its concerns and seek to lift the restriction.

In Mississippi, Marsh said AWS already has a significant investment and AVAIO is also considering an investment. He added that Entergy is seeing interest from additional potential customers but did not provide specific details. Asked about reports that Meta could expand substantially in Louisiana, Marsh said he could not comment on Meta’s specific plans but said existing customers have expressed interest in expanding beyond their current commitments.

Resilience and Reliability Investments Entergy said two minor tropical storms affected its service area during the first half of the year, but restoration costs were nominal and did not require special cost recovery. Marsh said the company’s year-round preparedness efforts include training, grid investments, inventory management, vegetation management and proactive maintenance.

In Louisiana, Entergy has begun a St. Bernard Parish project under its phase I accelerated resilience program. The work includes replacing or reinforcing about 640 distribution and transmission poles with equipment designed to withstand winds of up to 150 miles per hour.

The company also said its self-healing network program, which began installations in 2021, now includes more than 400 networks serving over 500,000 customers. According to Marsh, the program has avoided more than 700,000 customer interruptions and an estimated 80 million outage minutes since its launch.

Entergy Louisiana plans to file in the third quarter for a smaller intermediate resilience program, called phase I-A, intended to bridge the current program and a future phase while maintaining workforce continuity and managing customer affordability. In addition, Louisiana implemented a rider in May for enhanced vegetation-management spending above the 2025 baseline level.

Entergy Texas closed on a $200 million Texas Energy Fund grant in June, bringing its accelerated resilience plan to $337 million. Marsh said such investments are intended to strengthen storm readiness, harden the electric system and support faster restoration after severe weather.

Financial Outlook and Capital Plan CFO Kimberly Fontan said second-quarter adjusted earnings were slightly below the prior-year period because weather was closer to normal, compared with warmer weather in 2025. Excluding weather, retail sales grew, driven by 10% industrial sales growth as new and expanding projects increased operations.

Fontan said earnings also benefited from customer investments and related regulatory actions, net of higher depreciation, taxes other than income taxes and financing costs. Other factors included higher operations and maintenance expense, higher interest expense to the parent company and a higher share count following the settlement of equity forwards.

The company reaffirmed its 2026 adjusted EPS guidance and outlook through 2030. Fontan said Entergy expects third-quarter operations and maintenance expense to be about $0.05 to $0.10 higher than in the year-earlier quarter, largely reflecting expenses recovered through riders and consideration related to the sale of its local distribution company business last year. Assuming normal weather, she said most of the year-over-year earnings increase is expected in the fourth quarter.

Entergy’s equity plan remains unchanged from Investor Day. The company completed a $2.175 billion equity-forward offering in early May, with about 60% of its five-year equity plan contracted through 2028. On June 22, Entergy settled 8.7 million shares of equity forwards for net proceeds of $672 million, which Fontan said will support the investment plan and credit profile.

Regulatory, Generation and Transmission Developments Entergy Texas updated its distribution cost recovery factor and received approval for its first capacity cost recovery rider. Entergy Arkansas implemented new rates for its Generating Arkansas Jobs Act rider and filed a historical netting adjustment that reflects a customer rate reduction, partially offsetting its base-rate case impact. Entergy Mississippi’s annual formula rate plan filing was approved with no rate change.

Entergy Louisiana and Entergy New Orleans filed annual formula rate plan updates and requested extensions of their existing plans. Marsh said Entergy expects new rates in those jurisdictions to take effect in September, while adding that the company has a history of formula-rate-plan extensions in Louisiana.

On generation, Marsh said Entergy is continuing discussions with state officials and other parties regarding possible new nuclear development, including efforts to manage risks for customers and operating-company balance sheets. He said the company has made progress but does not yet have a timeline for an announcement, emphasizing that any project must be customer-led.

Entergy also continues to pursue its proposed acquisition of the Cottonwood generating plant. Marsh described the facility as the most economic option for serving expected growth from steel mills, LNG facilities and petrochemical customers in Louisiana, compared with building a new plant that may not be available until early next decade. The company is working with stakeholders on ways to mitigate near-term customer bill impacts.

Finally, management said Entergy is building more than 1,000 miles of transmission to support new customers and resilience needs. Fontan said the company has about 7.5 gigawatts of power-island equipment under contract or exclusivity arrangements, supporting the lower end of its 10-gigawatt to 17-gigawatt opportunity range.

About Entergy (NYSE:ETR)Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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On July 29, 2026, Entergy Corp (ETR) released its 8-K filing detailing its financial results for the second quarter of 2026. The company reported earnings of $1

Company affirms guidance and outlooks

, /PRNewswire/ -- Entergy Corporation (NYSE: ETR) reported second quarter 2026 earnings per share of $1.03 on an as-reported and an adjusted (non-GAAP) basis.

"At our investor day in June, we provided a comprehensive update on our differentiated growth story that starts with our customers," said Drew Marsh, Entergy Chair and Chief Executive Officer. "In the second quarter, we made steady progress across key customer, operational, regulatory, and financial areas. We remain solidly on track to achieve our objectives for 2026 and beyond."

Business highlights included the following:

The APSC approved Entergy Arkansas's Generating Arkansas Jobs Act rider rate update. The PUCT approved Entergy Texas's DCRF rate update. Entergy New Orleans and Entergy Louisiana each filed their annual formula rate plans. Entergy Arkansas filed its 2025 historical year formula rate plan netting adjustment. Entergy Louisiana and Entergy New Orleans each filed for an extension of their formula rate plans. Entergy Corporation completed a $2.175 billion common stock offering with a forward component. Entergy Texas was awarded an approximately $200 million Texas Energy Fund grant for electric reliability, which will strengthen the grid at no cost to customers. River Bend Station nuclear plant celebrated 40 years of producing clean, reliable electricity. Entergy's nuclear team received four Top Innovative Practice awards from the Nuclear Energy Institute. Entergy was named to The Civic 50, a Points of Light initiative honoring the 50 most community-minded companies in the U.S. Consolidated earnings (GAAP and non-GAAP measures)

Second quarter and year-to-date 2026 vs. 2025 
(See Appendix A for reconciliation of GAAP to non-GAAP measures and details on adjustments)

Second quarter

Year-to-date

2026

2025

Change

2026

2025

Change

(After-tax, $ in millions)

As-reported earnings

483

468

15

868

829

39

Less adjustments

-

-

-

(14)

-

(14)

Adjusted earnings (non-GAAP)

483

468

15

881

829

52

  Estimated weather impact

3

38

(35)

(7)

60

(67)

(After-tax, per share in $)

As-reported earnings

1.03

1.05

(0.01)

1.87

1.87

-

Less adjustments

-

-

-

(0.03)

-

(0.03)

Adjusted earnings (non-GAAP)

1.03

1.05

(0.01)

1.90

1.87

0.03

  Estimated weather impact

0.01

0.08

(0.08)

(0.02)

0.14

(0.15)

Calculations may differ due to rounding

Consolidated results

For second quarter 2026, the company reported earnings of $483 million, or $1.03 per share, on an
as-reported and an adjusted basis. This compared to second quarter 2025 earnings of $468 million, or $1.05 per share, on an as-reported and an adjusted basis.

Summary discussions of results by business follow. Additional details, including information on operating cash flow by business, are provided in Appendix A. Appendix B provides a more detailed analysis of earnings per share variances by business.

Business results

Utility

For second quarter 2026, the Utility business reported earnings attributable to Entergy Corporation of $626 million, or $1.34 per share, on an as-reported and an adjusted basis. This compared to second quarter 2025 earnings of $599 million, or $1.34 per share, on an as-reported and an adjusted basis.

The primary drivers for the quarter's earnings increase included:

the net effect of regulatory actions across several operating companies; return on construction work in progress for certain utility plant investments; higher retail sales volume; and higher other income (deductions). These drivers were partially offset by higher interest expense, higher O&M, and higher depreciation and amortization.

On a per share basis, second quarter 2026 results reflected higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in 2025 and 2026 as well as the dilutive effect of an increase in the stock price on unsettled equity forwards.

Appendix C contains additional details on Utility operating and financial measures.

Parent & Other

For second quarter 2026, Parent & Other reported a loss attributable to Entergy Corporation of $(143 million), or (31) cents per share, on an as-reported and an adjusted basis. This compared to a second quarter 2025 loss of $(131 million), or (29) cents per share, on an as-reported and an adjusted basis.

The primary driver for the quarter-over-quarter change was higher interest expense.

On a per share basis, second quarter 2026 results reflected higher diluted average number of common shares outstanding (see details in Utility section).

Earnings per share guidance

Entergy affirmed its 2026 adjusted earnings per share guidance range of $4.25 to $4.45. See the earnings call presentation for additional details.

The company has provided 2026 earnings guidance with regard to the non-GAAP measure of adjusted earnings per share. This measure excludes from the corresponding GAAP financial measure the effect of adjustments as described in the "Non-GAAP financial measures" section. The company has not provided a reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis because it cannot predict and quantify with a reasonable degree of confidence all of the adjustments that may occur during the period. Potential adjustments include, among other things, certain significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses.

Earnings teleconference

A teleconference will be held at 10:00 a.m. Central Time on Wednesday, July 29, 2026, to discuss Entergy's quarterly earnings announcement and the company's financial performance. The teleconference may be accessed by visiting Entergy's website at investors.entergy.com/investors/events-and-presentations or by dialing 888-440-4149, conference ID 9024832, no more than 15 minutes prior to the start of the call. The earnings call presentation is also being posted to Entergy's website concurrent with this news release. A replay of the teleconference will be available on Entergy's website at investors.entergy.com/investors/events-and-presentations and by telephone. The telephone replay will be available through Aug. 5, 2026, by dialing 800-770-2030, conference ID 9024832.

Entergy (NYSE: ETR) generates, transmits and distributes electricity to power life for more than 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We're focused on keeping costs for our customers as low as possible while providing reliable energy that our communities count on. We're also investing in growth for the future with a more resilient, cleaner energy system that includes modern natural gas, nuclear and renewable energy generation. As a nationally recognized leader in sustainability and corporate citizenship, we deliver more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at Entergy.com and connect with @Entergy on social media.

Entergy Corporation's common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol "ETR".

Details regarding Entergy's results of operations, regulatory proceedings, and other matters are available in this earnings release, a copy of which will be filed with the SEC, and the earnings call presentation. Both documents are available on Entergy's Investor Relations website at investors.entergy.com/investors/events-and-presentations.

Entergy maintains a web page as part of its Investor Relations website entitled Regulatory and other information, which provides investors with key updates on certain regulatory proceedings and important milestones on the execution of its strategy. While some of this information may be considered material information, investors should not rely exclusively on this page for all relevant company information.

For definitions of certain operating measures, as well as GAAP and non-GAAP financial measures and abbreviations and acronyms used in the earnings release materials, see Appendix E.

Non-GAAP financial measures

This news release contains non-GAAP financial measures, which are generally numerical measures of a company's performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Entergy has provided quantitative reconciliations within this news release of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

Entergy reports earnings using the non-GAAP measure of adjusted earnings, which excludes the effect of certain "adjustments". Adjustments are unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses. In addition to reporting GAAP earnings on a per share basis, Entergy reports its adjusted earnings on a per share basis. These per share measures represent the applicable earnings amount divided by the diluted average number of common shares outstanding for the period.

Management uses the non-GAAP financial measures of adjusted earnings and adjusted earnings per share for, among other things, financial planning and analysis; reporting financial results to the board of directors, employees, owners, and analysts; and internal evaluation of financial performance. Entergy believes that these non-GAAP financial measures provide useful information to investors in evaluating the ongoing results of Entergy's business, comparing period to period results, and comparing Entergy's financial performance to the financial performance of other companies in the utility sector.

Other non-GAAP measures, including adjusted ROE, adjusted ROE excluding affiliate preferred, FFO to adjusted debt, gross liquidity, net liquidity, adjusted Parent debt to total adjusted debt, adjusted debt to adjusted capitalization, and adjusted net debt to adjusted net capitalization are measures Entergy uses internally for management and board of directors discussions and to gauge the overall strength of its business. Entergy believes the above data provides useful information to investors in evaluating Entergy's ongoing financial results and flexibility and assists investors in comparing Entergy's credit and liquidity to the credit and liquidity of others in the utility sector. These metrics are defined in Appendix E.

These non-GAAP financial measures reflect an additional way of viewing aspects of Entergy's operations that, when viewed with Entergy's GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Entergy's business. These non-GAAP financial measures should not be used to the exclusion of GAAP financial measures. Investors are strongly encouraged to review Entergy's consolidated financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Although certain of these measures are intended to assist investors in comparing Entergy's performance to other companies in the utility sector, non-GAAP financial measures are not standardized; therefore, it might not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.

Cautionary note regarding forward-looking statements

This news release contains certain "forward-looking statements" within the meaning of federal securities laws that are subject to risks and uncertainties. Such statements include, among other things, statements regarding Entergy's 2026 adjusted earnings per share guidance and capital plan; financial and operational outlooks and expected industrial sales; industrial load growth outlooks; statements regarding its resilience plans, goals, beliefs, or expectations; and other statements of Entergy's plans, beliefs, or expectations within this news release. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy's most recent Annual Report on Form 10-K and any subsequent public filings with the Securities and Exchange Commission; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with (1) realizing the benefits of its resilience plan, including impacts of the frequency and intensity of future storms and storm paths, as well as the pace of project completion and (2) efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust values or earnings or in the timing or cost of decommissioning Entergy's nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including (1) strategic transactions that Entergy or its subsidiaries may undertake and the risks that any such transaction may not be completed as and when expected or the anticipated benefits may not be realized, and (2) Entergy's ability to meet the rapidly growing demand for electricity, including from large-scale data centers and other large customers, and to manage the impacts of such growth on customers and its business, or the risk that contracted or expected load growth does not materialize or is not sustained; (h) risks and uncertainties associated with the resolution of pending or future applications, regulatory proceedings, litigation or governmental official actions relating to generation, transmission, or other facilities and the effect of related public and political opposition, including, in each case, those relating to any facilities designed to serve large-scale data centers; (i) direct and indirect impacts to Entergy or its customers from pandemics, terrorist attacks, geopolitical conflicts, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy's business or operations, and/or other catastrophic events; and (j) effects on Entergy or its customers of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, such as changes in monetary, fiscal, trade, tax, environmental, or energy (including, among other things, data center energy use, efficiency standards, and sources of power) policies, as well as changes in utility regulations, including those relating to new projects designed to serve the increased load growth of large-scale data centers and other large customers; (2) changes in commodity markets, capital markets, or economic conditions; and (3) technological change, including the costs, pace of development, and commercialization of new and emerging technologies.

Second quarter 2026 earnings release appendices and financial statements

Appendices
A: Consolidated results and adjustments
B: Earnings variance analysis
C: Utility operating and financial measures
D: Consolidated financial measures
E: Definitions and abbreviations and acronyms
F: Other GAAP to non-GAAP reconciliations

Financial statements
Consolidating balance sheets
Consolidating income statements
Consolidated cash flow statements

A: Consolidated results and adjustments
Appendix A-1 provides a comparative summary of consolidated earnings, including a reconciliation of as-reported earnings (GAAP) to adjusted earnings (non-GAAP).

Appendix A-1: Consolidated earnings - reconciliation of GAAP to non-GAAP measures
Second quarter and year-to-date 2026 vs. 2025 (See Appendix A-2 and Appendix A-3 for details on adjustments)

Second quarter

Year-to-date

2026

2025

Change

2026

2025

Change

(After-tax, $ in millions)

As-reported earnings (loss)

Utility

626

599

27

1,166

1,089

77

Parent & Other

(143)

(131)

(12)

(298)

(260)

(38)

Consolidated

483

468

15

868

829

39

Less adjustments

Utility

-

-

-

-

-

-

Parent & Other

-

-

-

(14)

-

(14)

Consolidated

-

-

-

(14)

-

(14)

Adjusted earnings (loss) (non-GAAP)

Utility

626

599

27

1,166

1,089

77

Parent & Other

(143)

(131)

(12)

(284)

(260)

(25)

Consolidated

483

468

15

881

829

52

Estimated weather impact

3

38

(35)

(7)

60

(67)

Diluted average number of common shares outstanding (in millions)

466

446

21

464

443

21

(After-tax, per share in $) (a)

As-reported earnings (loss)

Utility

1.34

1.34

-

2.51

2.45

0.06

Parent & Other

(0.31)

(0.29)

(0.01)

(0.64)

(0.59)

(0.06)

Consolidated

1.03

1.05

(0.01)

1.87

1.87

-

Less adjustments

Utility

-

-

-

-

-

-

Parent & Other

-

-

-

(0.03)

-

(0.03)

Consolidated

-

-

-

(0.03)

-

(0.03)

Adjusted earnings (loss) (non-GAAP)

Utility

1.34

1.34

-

2.51

2.45

0.06

Parent & Other

(0.31)

(0.29)

(0.01)

(0.61)

(0.59)

(0.03)

Consolidated

1.03

1.05

(0.01)

1.90

1.87

0.03

Estimated weather impact

0.01

0.08

(0.08)

(0.02)

0.14

(0.15)

Calculations may differ due to rounding

(a)

Per share amounts are calculated by dividing the corresponding earnings (loss) by the diluted average number of common shares outstanding for the period. 

See Appendix B for detailed earnings variance analysis.

Appendix A-2 and Appendix A-3 detail adjustments by business. Adjustments are included in as-reported earnings consistent with GAAP but are excluded from adjusted earnings. As a result, adjusted earnings is considered a non-GAAP measure. 

Appendix A-2: Adjustments by driver (shown as positive/(negative) impact on earnings or EPS)

Second quarter and year-to-date 2026 vs. 2025

Second quarter

Year-to-date

2026

2025

Change

2026

2025

Change

(Pre-tax except for income tax effect and totals; $ in millions)

Parent & Other

1Q26 impairment related to the expected sale of a non-utility business interest in Independence power plant

-

-

-

(18)

-

(18)

Income tax effect on Parent & Other adjustment above

-

-

-

4

-

4

Total Parent and Other

-

-

-

(14)

-

(14)

Total adjustments

-

-

-

(14)

-

(14)

(After-tax, per share in $) (b)

Parent & Other

1Q26 impairment related to the expected sale of a non-utility business interest in Independence power plant

-

-

-

(0.03)

-

(0.03)

Total Parent & Other

-

-

-

(0.03)

-

(0.03)

Total adjustments

-

-

-

(0.03)

-

(0.03)

Calculations may differ due to rounding

(b)

Per share amounts are calculated by multiplying the corresponding earnings (loss) by the income tax rate that is expected to apply and dividing by the diluted average number of common shares outstanding for the period.

Appendix A-3: Adjustments by income statement line item (shown as positive/ (negative) impact on earnings)

Second quarter and year-to-date 2026 vs. 2025

(Pre-tax except for income taxes and totals; $ in millions)

Second quarter

Year-to-date

2026

2025

Change

2026

2025

Change

Parent & Other

  Asset write-offs, impairments, and related charges

-

-

-

(18)

-

(18)

  Income taxes

-

-

-

4

-

4

Total Parent & Other

-

-

-

(14)

-

(14)

Total adjustments

-

-

-

(14)

-

(14)

Calculations may differ due to rounding 

Appendix A-4 provides a comparative summary of OCF by business. 

Appendix A-4: Consolidated operating cash flow

Second quarter and year-to-date 2026 vs. 2025

($ in millions)

Second quarter

Year-to-date

2026

2025

Change

2026

2025

Change

Utility

2,021

1,371

650

2,891

1,937

954

Parent & Other

(128)

(110)

(18)

(169)

(139)

(30)

Consolidated

1,893

1,262

631

2,722

1,798

924

Calculations may differ due to rounding

Second quarter 2026 OCF increased primarily due to higher receipts of advance payments related to customer agreements, higher collections from Utility customers, and lower fuel and purchased power payments. These increases were partially offset by the timing of payments to vendors and higher interest payments.

B: Earnings variance analysis  
Appendix B-1 and Appendix B-2 provide details of current quarter and year-to-date 2026 versus 2025 as-reported and adjusted earnings per share variances.

Appendix B-1: As-reported and adjusted earnings per share variance analysis (c), (d)

Second quarter 2026 vs. 2025

(After-tax, per share in $)

Utility

Parent & Other

Consolidated

As-

reported

Adjusted

As-

reported

Adjusted

As-

reported

Adjusted

2025 earnings (loss)

1.34

1.34

(0.29)

(0.29)

1.05

1.05

Operating revenue less:
fuel, fuel-related exp. and gas purch. for resale; purch. power; and other reg. chgs. (credits) – net

0.18

0.18

(e)

-

-

0.18

0.18

Nuclear refueling outage expenses

-

-

-

-

-

-

Other O&M

(0.08)

(0.08)

(f)

-

-

(0.08)

(0.08)

Asset write-offs, impairments, and related charges

-

-

-

-

-

-

Decommissioning

(0.01)

(0.01)

-

-

-

-

Taxes other than income taxes

(0.02)

(0.02)

-

-

(0.02)

(0.02)

Depreciation and amortization

(0.05)

(0.05)

(g)

-

-

(0.04)

(0.04)

Other income (deductions)

0.13

0.13

(h)

0.01

0.01

0.15

0.15

Interest expense

(0.11)

(0.11)

(i)

(0.04)

(0.04)

(j)

(0.15)

(0.15)

Income taxes – other

0.01

0.01

-

-

-

-

Preferred dividend requirements and noncontrolling interests

-

-

-

-

-

-

Share effect

(0.06)

(0.06)

0.01

0.01

(0.05)

(0.05)

(k)

2026 earnings (loss)

1.34

1.34

(0.31)

(0.31)

1.03

1.03

Calculations may differ due to rounding

Appendix B-2: As-reported and adjusted earnings per share variance analysis (c), (d)

Year-to-date 2026 vs. 2025

(After-tax, per share in $)

Utility

Parent & Other

Consolidated

As-

reported

Adjusted

As-

reported

Adjusted

As-

reported

Adjusted

2025 earnings (loss)

2.45

2.45

(0.59)

(0.59)

1.87

1.87

Operating revenue less:
fuel, fuel-related exp. and gas purch. for resale; purch. power; and other reg. chgs. (credits) – net

0.07

0.07

(e)

-

-

0.07

0.07

Nuclear refueling outage expenses

0.02

0.02

-

-

0.02

0.02

Other O&M

(0.08)

(0.08)

(f)

-

-

(0.08)

(0.08)

Asset write-offs, impairments, and related charges

-

-

(0.03)

-

(l)

(0.03)

-

Decommissioning

(0.01)

(0.01)

-

-

(0.01)

(0.01)

Taxes other than income taxes

(0.04)

(0.04)

(m)

-

-

(0.04)

(0.04)

Depreciation and amortization

(0.09)

(0.09)

(g)

-

-

(0.09)

(0.09)

Other income (deductions)

0.46

0.46

(h)

0.01

0.01

0.48

0.48

Interest expense

(0.18)

(0.18)

(i)

(0.06)

(0.06)

(j)

(0.24)

(0.24)

Income taxes – other

0.02

0.02

-

-

0.02

0.02

Preferred dividend requirements and noncontrolling interests

(0.01)

(0.01)

-

-

(0.01)

(0.01)

Share effect

(0.12)

(0.12)

0.03

0.03

(0.09)

(0.09)

(k)

2026 earnings (loss)

2.51

2.51

(0.64)

(0.61)

1.87

1.90

Calculations may differ due to rounding

(c)

Utility operating revenue and Utility income taxes – other variances exclude the following for the return/collection of excess/deficient unprotected ADIT (net effect was neutral to earnings) ($ in millions):

2Q26

2Q25

YTD26

YTD25

Utility operating revenue

(13)

(4)

(28)

(6)

Utility income taxes – other

13

4

28

6

(d)

EPS effects of individual income statement line item variances are calculated by multiplying the pre-tax amount by the income tax rate that is expected to apply and dividing by diluted average number of common shares outstanding for the prior period. Income taxes – other represents income tax differences other than the income tax effect of individual line-item variances. Share effect captures the per share impact from the change in diluted average number of common shares outstanding.

Utility as-reported operating revenue less fuel, fuel-related
expenses and gas purchased for resale; purchased power;

and other regulatory charges (credits) – net variance analysis
2026 vs. 2025 ($ EPS)

2Q

YTD

Electric volume / weather

0.04

0.03

Retail electric price

0.15

0.32

Return on CWIP for certain utility plant investments

0.07

0.12

E-TX MISO capacity costs

0.03

0.03

Sale of natural gas LDCs

(0.04)

(0.11)

Reg. provisions for decommissioning items

(0.07)

(0.36)

Other

0.02

0.05

Total

0.18

0.07

(e)

The second quarter and year-to-date earnings increases reflected the effect of rate actions including: E-AR's FRP, E-AR's Generating Arkansas Jobs Act Rider, E-LA's FRP (including FRP riders), E-LA's RPCR, E-MS's FRP interim facilities rate adjustment, and E-TX's DCRF. 2026 results included higher revenue related to the amortization of certain customer advances designed to provide a return on CWIP for certain utility plant investments, which is recognized as the related costs are incurred. The increases also reflected higher electric volume, including the effects of weather, as well as second quarter 2025 MISO capacity costs at E-TX prior to the implementation of a new capacity cost rider, which was effective June 2026. The increases were partially offset by the absence of revenues and gas purchase for resale from the natural gas LDC businesses that were sold in July 2025. Changes in regulatory provisions for decommissioning items was also a driver (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral). The year-to-date increase also included the effects of E-MS's grid modernization rider.

(f)

The second quarter earnings decrease from higher Utility other O&M was primarily due to an increase in power delivery expenses driven by higher vegetation maintenance costs, as well as higher compensation and benefits costs resulting from higher healthcare claims activity and the timing of the recognition of prescription drug rebates. The second quarter decrease was partially offset by lower bad debt expense. The year-to-date earnings decrease from higher Utility other O&M was primarily due to an increase in power delivery expenses driven by higher vegetation maintenance costs, a higher scope of work performed in 2026 as compared to 2025, and increased labor costs. The year-to-date decrease also reflected higher compensation and benefits, primarily due to a revision to estimated incentive-based compensation expense in 2025. The year-to-date decrease was partially offset by higher nuclear insurance refunds, lower gas operation expenses resulting from the sale of natural gas LDC businesses, and decreases in loss provisions and bad debt expense.

(g)

The second quarter and year-to-date earnings decreases from higher Utility depreciation and amortization were primarily due to higher plant in service. The decreases also reflected higher FERC jurisdictional depreciation rates at E-AR and
E -LA effective Jan. 2026, and an increase in E-LA's nuclear depreciation rates effective Sept. 2025. 

(h)

The second quarter and year-to-date earnings increases from higher Utility other income (deductions) included changes in nuclear decommissioning trust returns, including portfolio rebalancing in 2026 (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral). The increases also reflected higher amortization of tax gross ups on customer advances, including customer advances for construction as well as higher external interest income. The increases were partially offset by a true-up of E-LA's MISO cost recovery mechanism.

(i)

The second quarter and year-to-date earnings decreases from higher Utility interest expense were primarily due to higher debt balances, a higher average interest rate, and higher carrying costs on customer advances. The year-to-date decrease also reflected 2026 carrying costs on retained net proceeds from the monetization of nuclear production tax credits. 

(j)

The second quarter and year-to-date earnings decreases from higher Parent & Other interest expense were primarily due to the issuance of $1.3 billion of junior subordinated debentures in Nov. 2025. 

(k)

The second quarter and year-to-date earnings per share decreases from share effect were due to higher diluted average number of common shares outstanding.  The increases in shares outstanding were primarily due to the settlement of equity forwards in Oct. 2025, Feb. 2026, and June 2026 and the dilutive effect of an increase in the stock price on unsettled equity forwards.

(l)

The year-to-date as-reported earnings decrease from higher Parent & Other asset write-offs, impairments, and related charges was due to a first quarter 2026 $(18 million) ($(14 million) after tax) non-cash impairment related to the expected sale of a non-utility business interest in the Independence power plant (considered an adjustment and excluded from adjusted earnings).

(m)

The year-to-date earnings decrease from higher Utility taxes other than income taxes was primarily due to increases in ad valorem taxes resulting from higher assessments and millage rate increases.

C: Utility operating and financial measures
Appendix C provides a comparison of Utility operating and financial measures.

Appendix C: Utility operating and financial measures

Second quarter and year-to-date 2026 vs. 2025

Second quarter

Year-to-date

2026

2025

%
change

% weather
adj. (n)

2026

2025

%
change

% weather
adj. (n)

GWh sold

Residential

8,736

8,899

(1.8)

2.8

16,792

17,683

(5.0)

(0.2)

Commercial

7,208

7,265

(0.8)

0.3

13,437

13,507

(0.5)

(0.1)

Governmental

617

617

-

1.6

1,172

1,176

(0.3)

0.3

Industrial

17,164

15,620

9.9

9.9

33,060

29,452

12.3

12.3

Total retail

33,725

32,401

4.1

5.7

64,461

61,818

4.3

5.9

Wholesale

3,338

4,133

(19.2)

6,127

5,767

6.2

Total

37,063

36,534

1.4

70,588

67,585

4.4

Number of electric retail customers

Residential

2,637,865

2,608,472

1.1

Commercial

374,149

371,699

0.7

Governmental

19,105

18,008

6.1

Industrial

39,892

41,227

(3.2)

Total

3,071,011

3,039,406

1.0

Other O&M and nuclear refueling outage exp. per MWh

$21.24

$20.33

4.4

$20.88

$21.28

(1.9)

Calculations may differ due to rounding

(n)

The effects of weather were estimated using hourly heating degree days and cooling degree days for the period from various locations and comparing to a "normal" temperature range for each jurisdiction based on 20-year historical data. The models used to estimate weather are updated periodically and are subject to change.

For the quarter, weather-adjusted retail sales increased 5.7 percent. The increase was primarily due to a 9.9 percent increase in industrial volume driven by higher sales to data center, primary metals, and chlor-alkali customers. Residential sales were 2.8 percent higher.

D: Consolidated financial measures
Appendix D provides comparative financial measures. Financial measures in this table include those calculated and presented in accordance with GAAP, as well as those that are considered non-GAAP financial measures.

Appendix D: GAAP and non-GAAP financial measures

2026 vs. 2025 (See Appendix F for reconciliation of GAAP to non-GAAP financial measures)

For 12 months ending June 30

2026

2025

Change

GAAP measure

  As-reported ROE

10.4 %

11.4 %

(1) %

Non-GAAP financial measure

  Adjusted ROE

10.5 %

11.5 %

(1) %

As of June 30 ($ in millions, except where noted)

2026

2025

Change

GAAP measures

  Cash and cash equivalents

3,854

1,176

2,678

  Available revolver capacity

4,346

4,345

1

  Commercial paper

1,544

459

1,085

  Total debt

34,749

30,522

4,227

  Junior subordinated debentures

2,500

1,200

1,300

  Securitization debt

213

230

(17)

  Total debt to total capital

65 %

65 %

-

   Storm escrows

314

303

11

Non-GAAP financial measures ($ in millions, except where noted)

  FFO to adjusted debt

15.8 %

15.1 %

0.7 %

  Adjusted debt to adjusted capitalization

63 %

63 %

-

  Adjusted net debt to adjusted net capitalization

60 %

62 %

(2) %

  Gross liquidity

8,200

5,521

2,679

  Net liquidity

10,026

7,631

2,395

  Adjusted Parent debt to total adjusted debt

18 %

17 %

1 %

  Build-to-suit lease agreement (o)

1,450

-

1,450

Calculations may differ due to rounding

(o)

Maximum counterparty commitment; see Form 10-K for the fiscal year ended Dec. 2025 for additional details.

E: Definitions and abbreviations and acronyms 
Appendix E-1 provides definitions of certain operating measures, as well as GAAP and non-GAAP financial measures.

Appendix E-1: Definitions

Utility operating and financial measures

Number of electric retail customers

Average number of electric customers over the period

Other O&M and refueling outage expense per MWh

Other operation and maintenance expense plus nuclear refueling outage expense per MWh of total sales

Financial measures – GAAP

As-reported ROE

Last twelve months net income attributable to Entergy Corp. divided by average common equity

Available revolver capacity

Amount of undrawn capacity remaining on corporate and subsidiary revolvers

Securitization debt

Debt on the balance sheet associated with securitization bonds that is secured by certain future customer collections

Total capitalization

Total debt plus subsidiaries' preferred stock without sinking fund plus total equity

Total debt

Sum of short-term and long-term debt, notes payable, and commercial paper

Total debt to total capitalization

Total debt divided by total capitalization

Financial measures – non-GAAP

Adjusted capitalization

Total capitalization excluding securitization debt

Adjusted debt

Total debt excluding securitization debt and 50% of junior subordinated debentures

Adjusted debt to adjusted capitalization

Adjusted debt divided by adjusted capitalization

Adjusted earnings (loss)

As-reported earnings (loss) minus adjustments

Adjusted EPS

Adjusted earnings (loss) divided by the diluted average number of common shares outstanding

Adjusted net capitalization

Adjusted capitalization minus cash and cash equivalents

Adjusted net debt

Adjusted debt minus cash and cash equivalents

Adjusted net debt to adjusted net capitalization

Adjusted net debt divided by adjusted net capitalization

Adjusted Parent debt

Entergy Corp. debt, including amounts drawn on credit revolver and commercial paper facilities plus unamortized debt issuance costs and discounts minus 50% of junior subordinated debentures

Adjusted Parent debt to total adjusted debt

Adjusted Parent debt divided by consolidated adjusted debt

Adjusted ROE

Last twelve months adjusted earnings divided by average common equity

Adjusted ROE excluding affiliate preferred

Last twelve months adjusted earnings, excluding dividend income from affiliate preferred as well as the after-tax cost of debt financing for preferred investment, divided by average common equity adjusted to exclude the estimated equity associated with the affiliate preferred investment

Adjustments

Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses

FFO

Last twelve months OCF minus preferred dividend requirements of subsidiaries, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued, interest accrued, deferred fuel costs, customer advances – current, and other working capital accounts), 50% of interest on junior subordinated debentures, and securitization regulatory charges

FFO to adjusted debt

Last twelve months FFO divided by end of period adjusted debt

Gross liquidity

Sum of cash and cash equivalents plus available revolver capacity

Net liquidity

Sum of cash and cash equivalents, available revolver capacity, escrow accounts available for certain storm expenses, and equity sold forward but not yet settled minus commercial paper

Appendix E-2 explains abbreviations and acronyms used in the quarterly earnings materials.

Appendix E-2: Abbreviations and acronyms

A&G

ACM

ADIT

AFUDC

APSC

BESS

CAGR

CCCT

CCNO

CFO

COD

CT

CWIP

DCRF

DRM

E-AR

E-LA

E-MS

E-NO

E-TX

EPS

ETR

FFO

FRP

GAAP

GCRR

GGO

Grand Gulf or GGNS

Independence

LDC

Administrative and general expenses

Additional Capacity Mechanism

Accumulated deferred income taxes

Allowance for funds used during construction

Arkansas Public Service Commission

Battery and energy storage system

Compound annual growth rate

Combined cycle combustion turbine

Council of the City of New Orleans

Cash from operations

Commercial operation date

Combustion turbine

Construction work in progress

Distribution Cost Recovery Factor

Distribution Recovery Mechanism

Entergy Arkansas, LLC

Entergy Louisiana, LLC

Entergy Mississippi, LLC

Entergy New Orleans, LLC

Entergy Texas, Inc.

Earnings per share

Entergy Corporation

Funds from operations

Formula rate plan

U.S. generally accepted accounting principles

Generation Cost Recovery Rider

Geaux Green Option

Unit 1 of Grand Gulf Nuclear Station (nuclear), 90% owned or leased by SERI

Independence Steam Electric Station

Local distribution company

LPSC

LTM

MCRM

MISO

Moody's

MPSC

NDT

NYSE

O&M

OCAPS

OCF

OpCo

Other O&M

P&O

PMR

PPA
PUCT

RECs

RSHCR

ROE

RPCR

S&P

SEC

SERI

TAM

TCRF

TRM

VMR

WACC

Louisiana Public Service Commission

Last twelve months

MISO Cost Recovery Mechanism

Midcontinent Independent System Operator, Inc.

Moody's Ratings

Mississippi Public Service Commission

Nuclear decommissioning trust

New York Stock Exchange

Operation and maintenance

Orange County Advanced Power Station (CCCT)

Net cash flow provided by operating activities

Utility operating company

Other operation and maintenance expense

Parent & Other

Performance Management Rider

Power purchase agreement or purchased power agreement

Public Utility Commission of Texas

Renewable energy certificates

Resilience and Storm Hardening Cost Recovery

Return on equity

Resilience Plan Cost Recovery Rider

Standard & Poor's

U.S. Securities and Exchange Commission

System Energy Resources, Inc.

Tax Adjustment Mechanism

Transmission Cost Recovery Factor

Transmission Recovery Mechanism

Vegetation management rider

Weighted average cost of capital

F: Other GAAP to non-GAAP reconciliations
Appendix F-1, Appendix F-2, and Appendix F-3 provide reconciliations of various non-GAAP financial measures disclosed in this news release to their most comparable GAAP measure.

Appendix F-1: Reconciliation of GAAP to non-GAAP financial measures – ROE

(LTM $ in millions except where noted)

Second quarter

2026

2025

As-reported net income attributable to Entergy Corporation

(A)

1,797

1,760

Adjustments

(B)

(14)

(5)

Adjusted earnings (non-GAAP)

(C)=(A-B)

1,811

1,765

Average common equity (average of beginning and ending balances)

(D)

17,221

15,390

As-reported ROE

(A/D)

10.4 %

11.4 %

Adjusted ROE (non-GAAP)

(C/D)

10.5 %

11.5 %

 Calculations may differ due to rounding

Appendix F-2: Reconciliation of GAAP to non-GAAP financial measures – FFO to adjusted debt

($ in millions except where noted)

Second quarter

2026

2025

Total debt

(A)

34,749

30,522

Securitization debt

(B)

213

230

50% junior subordinated debentures

(C)

1,250

600

Adjusted debt (non-GAAP)

(D)=(A-B-C)

33,286

29,692

Net cash flow provided by operating activities, LTM

(E)

6,075

4,740

Preferred dividend requirements of subsidiaries, LTM

(F)

(18)

(18)

50% of the interest expense associated with junior subordinated debentures, LTM

(G)

(68)

(43)

Working capital items in net cash flow provided by operating activities, LTM:

Receivables

(30)

(84)

Fuel inventory

38

(1)

Accounts payable

226

208

Taxes accrued

69

18

Interest accrued

49

45

Deferred fuel costs

(139)

(216)

Customer advances – current

918

455

Other working capital accounts

(244)

(109)

Securitization regulatory charges, LTM

18

17

Total

(H)

904

332

FFO, LTM (non-GAAP)

(I)=(E-F-G-H)

5,257

4,469

FFO to adjusted debt (non-GAAP)

(I/D)

15.8 %

15.1 %

Calculations may differ due to rounding

Appendix F-3: Reconciliation of GAAP to non-GAAP financial measures – adjusted debt ratios; gross liquidity; and net liquidity

($ in millions except where noted)

Second quarter

2026

2025

Total debt

(A)

34,749

30,522

Securitization debt

(B)

213

230

50% junior subordinated debentures

(C)

1,250

600

Adjusted debt (non-GAAP)

(D)=(A-B-C)

33,286

29,692

Cash and cash equivalents

(E)

3,854

1,176

Adjusted net debt (non-GAAP)

(F)=(D-E)

29,432

28,516

Commercial paper

(G)

1,544

459

Total capitalization

(H)

53,289

47,050

Securitization debt

(B)

213

230

Adjusted capitalization (non-GAAP)

(I)=(H-B)

53,076

46,820

Cash and cash equivalents

(E)

3,854

1,176

Adjusted net capitalization (non-GAAP)

(J)=(I-E)

49,222

45,644

Total debt to total capitalization

(A/H)

65 %

65 %

Adjusted debt to adjusted capitalization (non-GAAP)

(D/I)

63 %

63 %

Adjusted net debt to adjusted net capitalization (non-GAAP)

(F/J)

60 %

62 %

Available revolver capacity

(K)

4,346

4,345

Storm escrows

(L)

314

303

Equity sold forward, not yet settled (p)

(M)

3,056

2,266

Gross liquidity (non-GAAP)

(N)=(E+K)

8,200

5,521

Net liquidity (non-GAAP)

(N-G+L+M)

10,026

7,631

Entergy Corporation notes:

Due September 2025

-

800

Due September 2026

750

750

Due June 2028

650

650

Due June 2030

600

600

Due June 2031

650

650

Due June 2050

600

600

Junior subordinated debentures due Dec. 2054

1200

1,200

Junior subordinated debentures due June 2056

700

-

Junior subordinated debentures due June 2056

600

-

Total Parent long-term debt

(O)

5,750

5,250

Revolver drawn

(P)

-

-

Unamortized debt issuance costs and discounts

(Q)

(53)

(42)

Total Parent debt

(R)=(G+O+P+Q)

7,242

5,667

Adjusted Parent debt (non-GAAP)

(S)=(R-C)

5,992

5,067

Adjusted Parent debt to total adjusted debt (non-GAAP)

(S/D)

18 %

17 %

Calculations may differ due to rounding

(p)

Reflects adjustments, including for common dividends between contracting and settlement.

SOURCE Entergy Corporation

Key Takeaways Entergy's Q2 sales estimate of $3.54 billion implies year-over-year growth of 6.2%.Higher retail, industrial and data-center demand may have supported Entergy's quarterly results.June storm outages in Louisiana likely increased Entergy's repair and restoration expenses. Entergy Corporation (ETR - Free Report) is scheduled to release its second-quarter 2026 earnings on July 29, before market open. The company delivered a negative earnings surprise of 3.37% in the last reported quarter.

Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors to Consider Ahead of ETR’s Q2 ResultsMost of Entergy’s service regions experienced warmer-than-normal weather conditions in the second quarter. Such a weather pattern is likely to have boosted electricity demand from its customers for cooling purposes this summer. This might have improved Entergy’s top-line performance.

Higher retail and industrial sales, coupled with rising demand from data centers across its service territories, are likely to have supported its quarterly performance.

However, high winds, flash flooding and lightning in June caused widespread power outages across Louisiana. Although the company’s crews restored power to the majority of impacted customers, the related repair and restoration efforts may have increased operation and maintenance expenses in the to-be-reported quarter.

Q2 Expectations for EntergyThe Zacks Consensus Estimate for sales is pegged at $3.54 billion, which indicates year-over-year growth of 6.2%.

The consensus estimate for earnings per share stands at 96 cents, which implies a year-over-year decline of 8.6%.

What the Zacks Model Unveils for EntergyOur proven model does not conclusively predict an earnings beat for ETR this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.

Stocks to ConsiderInvestors may consider the following players from the same industry, as these have the right combination of elements to post an earnings beat this reporting cycle.

Ameren Corporation (AEE - Free Report) is scheduled to report its second-quarter 2026 results on July 30, after market close. It has an Earnings ESP of +0.19% and a Zacks Rank of 2 at present.

AEE’s long-term (three to five years) earnings growth rate is 7.68%. The Zacks Consensus Estimate for earnings stands at $1.08 per share, which implies a year-over-year increase of 6.9%.

Edison International (EIX - Free Report) is slated to report its second-quarter 2026 results on July 30, after market close. It has an Earnings ESP of +4.66% and a Zacks Rank of 2 at present.

EIX’s long-term earnings growth rate is 2.10%. The Zacks Consensus Estimate for earnings is pegged at $1.02 per share, which suggests a year-over-year rise of 5.2%.

The Southern Company (SO - Free Report) is set to report its second-quarter 2026 results on July 30, before market open. It has an Earnings ESP of +1.16% and a Zacks Rank of 3 at present.

SO’s long-term earnings growth rate is 11.15%. The Zacks Consensus Estimate for earnings stands at $1.01 per share, which calls for a year-over-year jump of 11%.

Wall Street expects flat earnings compared to the year-ago quarter on higher revenues when Entergy (ETR - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 29. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis power company is expected to post quarterly earnings of $1.05 per share in its upcoming report, which represents no change from the year-ago quarter.

Revenues are expected to be $3.56 billion, up 6.9% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.01% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Entergy?For Entergy, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -9.77%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Entergy will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Entergy would post earnings of $0.89 per share when it actually produced earnings of $0.86, delivering a surprise of -3.37%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Entergy doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerFirstEnergy (FE - Free Report) , another stock in the Zacks Utility - Electric Power industry, is expected to report earnings per share of $0.54 for the quarter ended June 2026. This estimate points to a year-over-year change of +3.9%. Revenues for the quarter are expected to be $3.62 billion, up 7.2% from the year-ago quarter.

The consensus EPS estimate for FirstEnergy has been revised 0.7% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -11.66%.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that FirstEnergy will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- The Entergy Texas, Inc. board of directors has declared a quarterly dividend payment of $0.3359375 per share on its Series A Preferred Stock. The dividend is payable July 15, 2026, to shareholders of record as of July 2, 2026.

About Entergy Texas

Entergy Texas (NYSE: ETI-PR) provides electricity to approximately 538,000 customers in 27 counties. Its customers are connected to the Midcontinent Independent System Operator Inc. power grid, which is a regional transmission organization responsible for administering the transmission systems of member utilities in 15 states stretching across the central region of the United States and Manitoba, Canada. Entergy Texas is a subsidiary of Entergy Corporation (NYSE: ETR). Entergy generates, transmits and distributes electricity to power life for more than 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We're focused on keeping costs for our customers as low as possible while providing reliable energy that our communities count on. We're also investing in growth for the future with a more resilient, cleaner energy system that includes modern natural gas, nuclear and renewable energy generation. As a nationally recognized leader in sustainability and corporate citizenship, Entergy delivers more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at EntergyTexas.com and connect with @EntergyTX on social media.

SOURCE Entergy Corporation

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Entergy (ETR - Free Report) came out with quarterly earnings of $0.86 per share, missing the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -3.22%. A quarter ago, it was expected that this power company would post earnings of $0.51 per share when it actually produced earnings of $0.51, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Entergy, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $3.19 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.08%. This compares to year-ago revenues of $2.85 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Entergy shares have added about 22.4% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for Entergy?While Entergy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Entergy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.07 on $3.53 billion in revenues for the coming quarter and $4.40 on $13.83 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Southern Co. (SO - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 30.

This power company is expected to post quarterly earnings of $1.21 per share in its upcoming report, which represents a year-over-year change of -1.6%. The consensus EPS estimate for the quarter has been revised 3.2% lower over the last 30 days to the current level.

Southern Co.'s revenues are expected to be $8.12 billion, up 4.4% from the year-ago quarter.

Entergy Corporation (ETR) Q1 2026 Earnings Call Transcript

, /PRNewswire/ -- Entergy Corporation (NYSE: ETR) announced today the pricing of a registered underwritten offering of 19,247,788 shares of its common stock at a price to the public of $113.00 per share. Subject to certain conditions, all shares are expected to be borrowed by the forward counterparties (as defined below) (or their respective affiliates) from third parties and sold to the underwriters and offered in connection with the forward sale agreements described below. Wells Fargo Securities, Citigroup, Barclays and Scotiabank are acting as joint book-running managers and representatives for this offering. BNP Paribas, BofA Securities, J.P. Morgan, Mizuho, Morgan Stanley  and MUFG are also acting as joint book-running managers for this offering. Closing of this offering is expected to occur on or about May 7, 2026.

In connection with the offering, Entergy entered into forward sale agreements with each of Wells Fargo Bank, National Association, Citibank, N.A., Barclays Bank PLC and The Bank of Nova Scotia (the "forward counterparties") under which Entergy agreed to issue and sell to the forward counterparties an aggregate of 19,247,788 shares of its common stock. In addition, the underwriters of the offering have been granted a 30-day option to purchase up to an additional 2,887,168 shares of Entergy's common stock upon the same terms. If the underwriters exercise their option to purchase additional shares of Common Stock, Entergy expects to enter into additional forward sale agreements with the forward counterparties with respect to the additional shares.

Settlement of the forward sale agreements is expected to occur on or prior to April 30, 2028. Entergy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreements.

If Entergy elects physical settlement of the forward sale agreements, it expects to use the net proceeds for general corporate purposes, which may include repayment of commercial paper, outstanding loans under Entergy's revolving credit facility or other debt.

The offering is being made pursuant to Entergy's effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the "SEC"). The prospectus supplement and the accompanying base prospectus related to the offering will be available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from the joint-book running managers for the offering as follows:

Wells Fargo Securities, LLC
90 South 7th Street, 5th Floor
Minneapolis, Minnesota 55402
Email: [email protected]
Tel: 800-645-3751 (option #5)

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Tel: 800-831-9146

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Email: [email protected]
Tel: 888-603-5847

Scotia Capital (USA) Inc.
250 Vesey Street, 24th Floor
New York, New York 10281
Attention: US ECM
Email: [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Entergy

Entergy Corporation is an integrated energy company engaged in electric power production, transmission and energy delivery to retail customers. Entergy owns and operates power plants with approximately 25,000 megawatts of electric generating capacity. Entergy delivers electricity to approximately 3.1 million utility customers through its operating companies in Arkansas, Louisiana, Mississippi and Texas.

Entergy is traded on the New York Stock Exchange under the symbol ETR.

Forward-looking statements

This press release contains forward-looking statements regarding our planned offer and sale of common stock and the use of the net proceeds from any such sale. We cannot be sure that we will complete the offering or, if we do, on what terms we will complete it. Forward-looking statements are based on current beliefs and expectations and are subject to inherent risks and uncertainties. In addition, Entergy management retains broad discretion with respect to the allocation of net proceeds of the offering. The forward-looking statements speak only as of the date of release, and Entergy is under no obligation to, and expressly disclaims any such obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

-30-

Investor inquiries:
Liz Hunter
504-576-3294
[email protected]

Media inquiries:
Neal Kirby
504-576-4238
[email protected]

SOURCE Entergy Corporation

ETR leans on its nuclear portfolio and a $57 billion grid plan to drive demand and reliability, but regulatory risks and efficiency trends persist.

AUSTIN, Texas--(BUSINESS WIRE)--Futurum Group, a leading technology advisory, research, and intelligence firm, today announced the signing of a definitive agreement to acquire Aptiviti, Inc., the parent company of Enterprise Technology Research (ETR). Upon closing, the strategic acquisition will merge ETR’s highly coveted, predictive quantitative data engine—long considered a gold standard by institutional investors—with Futurum Group’s deep market expertise, media properties, and global intelligence platform.

The world’s top institutional investors have relied on ETR’s data to predict market-moving shifts in technology spending before they show up in earnings. We now bridge the gap between Silicon Valley and Wall Street and vice versa.

Share For over a decade, ETR has been the silent engine behind some of Wall Street’s most successful technology investors. Through its proprietary Technology Spending Intentions Survey (TSIS), ETR captures forward-looking capital allocation data from a vetted community of nearly 10,000 enterprise technology leaders representing over $2 trillion in spending power.

Following the robust adoption of the Futurum Intelligence Platform™ in 2025, users and decision makers find unmatched real time data capabilities covering 11 tech practice areas. Customers who’ve been consuming dynamic intelligence based on over 6M existing data points will now gain a leading and powerful set of indicators to forecast vendor performance across their ecosystem, track sales preference signals across verticals, and ultimately enable them to generate alpha in a volatile tech market.

"ETR was founded on the belief that data, not opinion, should drive the most consequential technology decisions. I joined this company as one of its first employees in 2012, and returning as CEO in 2024 gave me a front-row seat to just how far that conviction had taken us. The result is a community of nearly 10,000 technology leaders, more than 15 years of proprietary data, and a methodology that the world's top investors and technology companies rely on to stay ahead of the market,” said Brad LaScolea, CEO of ETR. “Combining that foundation with Futurum Group’s analyst depth, reach, and intelligence platform creates something genuinely differentiated and long overdue for the market."

"For years, the world’s top institutional investors have relied on ETR’s raw data to predict market-moving shifts in technology spending before they show up in earnings," said Daniel Newman, CEO of Futurum Group. "Through this acquisition, we are bridging the gap between Silicon Valley and Wall Street and vice versa. We are proud to offer the financial markets an ultimate edge while further enhancing the power of intelligence that enterprises are accustomed to having with Futurum Group: predictive, quantitative alpha generated by ETR with the strategic, qualitative context of our global analyst team. I’m personally proud to have Futurum Group innovate and spearhead the reimagined mandate firms have in the AI era, leading at the forefront to offer this level of unified market intelligence."

Futurum Intelligence’s latest proprietary AI offerings unveiled this year are eye opening to customers, allowing them to prompt AI to answer questions grounded in Futurum Group’s research and buyer data such as vendor comparisons, brief your board, and pressure-test strategy — in minutes, not weeks.

The combined platform includes the following benefits and capabilities:

Institutional-Grade Predictive Power: ETR’s standardized, longitudinal TSIS survey captures spending intentions across hundreds of publicly traded and private technology vendors. Decision makers use this proprietary data as an unparalleled, forward-looking lens into which companies are gaining or losing market share, compared to those benefiting from or impacted by secular and/or macro-level spending headwinds. Deep Penetration in Financial Services: ETR's established clientele includes a who's-who of tier-one hedge funds, mutual funds, family offices, private equity, and venture capital firms. This acquisition formally solidifies Futurum’s footprint on Wall Street, expanding its ecosystem far beyond traditional technology vendors and enterprise C-suites to directly serve the financial markets. The Ultimate Due Diligence Engine: By integrating ETR's data with Futurum Group’s existing platform, decision makers now have a comprehensive tool for robust market positioning, buying and adoption trajectories, M&A due diligence, competitive benchmarking, idea generation, and investment thesis validation. Contextualizing the Quant: While users have historically used ETR to answer what is happening with technology budgets, Futurum Group’s 11 practice areas and expert analysts provide the critical why. Clients now receive the quantitative signal and the qualitative context in a single, frictionless engagement. To learn more and request your access, visit Futurum Group and Futurum Intelligence

About Futurum Intelligence

Futurum Intelligence, the research arm of Futurum Group company, analysts, researchers, and advisors helps business leaders worldwide anticipate tectonic shifts in their industries and leverage disruptive innovation.

Unlike traditional analysts, Futurum Group works not only in analysis and research but also takes that insight and knowledge even further, engaging all the way through the go-to-market process. Futurum Group provides in-depth research and insights on global technology markets using advisory services, custom research reports, strategic consulting engagements, digital events, go-to-market planning, and message testing. It also creates, distributes, and amplifies rich media content that all stakeholders read, watch, and listen to.

About ETR, an Aptiviti Inc company

Enterprise Technology Research (ETR) is an enterprise technology market research firm that delivers actionable, transparent, and unbiased insights to technology companies, institutional investors, and a trusted community of technology leaders, empowering them to make smarter, faster decisions. ETR’s proprietary approach is grounded in their vision to reinvent technology market research so that business leaders can strategically position their organizations to outperform the competition. In fact, no other firm harnesses the same scale and makeup of their vetted community to quickly deliver the unbiased data and analysis that financial and enterprise organizations need to achieve better outcomes. Bottom line: ETR ensures companies can access the data and gain the edge.

On June 01, 2026, Entergy Corp ETR shares fell 3.7% today, closing at $104.97. This decline is part of a broader trend, with the stock experiencing a 6.6% drop over the past week and a 9.8% decline over the past month. Over the last year, however, ETR shares have gained 29.3%, and they are up 14.9% year-to-date. The stock has fluctuated between a 52-week high of $118.45 and a low of $80.11.

GF Value™ verdict: Current price of $104.97 compared to GF Value™ of $78.99 indicates a 32.9% overvaluation.GF Score™: 76/100 (Above Average), suggesting solid fundamentals.Most notable signal: No insider transactions in the last 3 months, indicating a lack of confidence from insiders. Is ETR Overvalued or Undervalued? With a current price of $104.97 and a GF Value™ estimate of $78.99, Entergy Corp appears significantly overvalued, with a 32.9% margin of safety. The GF Valuation label indicates that the stock is "Significantly Overvalued," posing potential risks for investors who may be considering entering or holding onto the stock. The overvaluation suggests that the market may have priced in optimistic growth expectations or a premium for the company's stable utility business, which might not be justified by its underlying financials.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Investors should exercise caution as the stock's current price reflects a significant premium over its estimated intrinsic value, increasing the risk of potential price corrections if the company's performance does not meet high expectations.

How Does ETR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 26.8x 18.7x Forward P/E 23.9x N/A Entergy Corp's current P/E ratio of 26.8x is significantly above its 5-year median P/E of 18.7x, indicating that the stock is trading at a premium compared to its historical valuation metrics. The forward P/E of 23.9x also suggests that expectations for earnings growth are high. This P/E analysis aligns with the GF Value™ verdict of being overvalued, reinforcing concerns that the stock may not deliver the growth necessary to justify its current price levels.

What Does ETR's GF Score™ Tell Us? Metric Rating GF Score™ 76/100 Financial Strength 4/10 Profitability 7/10 Growth 6/10 Valuation 5/10 Momentum 6/10 The GF Score™ of 76/100 indicates that Entergy Corp is positioned above average in terms of overall stock quality. The strongest area lies in profitability, with a score of 7/10, reflecting the company's ability to generate consistent earnings. However, financial strength is a concern, earning only a 4/10 rating, which may indicate vulnerabilities in the company's capital structure or liquidity. The scores in growth, valuation, and momentum are moderate, suggesting that while there are positive aspects to the company's performance, there is room for improvement in several key areas.

What Are Insiders Doing with ETR Stock? There have been no insider transactions reported in the last three months for Entergy Corp, which may suggest a lack of confidence among company executives or board members regarding the stock's current valuation. Insider activity can often serve as a barometer for investor sentiment, and the absence of recent trades might indicate that insiders are either holding their positions or do not see an attractive entry point at current price levels.

What This Means for Investors Based on the analysis of the GF Value™, Entergy Corp ETR is currently overvalued. With a significant premium over its estimated intrinsic value and a concerning P/E ratio compared to historical averages, the stock may pose risks for potential investors. Caution is advised, given the lack of recent insider activity and the company's mixed financial metrics.

For the complete analysis, visit the Entergy Corp ETR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is ETR's GF Score™?

ETR's GF Score™ is 76/100, indicating that the stock is positioned above average in terms of overall quality and is expected to generate higher long-term returns based on historical performance.

Is ETR overvalued or undervalued?

ETR is currently overvalued, with a GF Value™ of $78.99 compared to its current price of $104.97, suggesting a significant margin of safety of 32.9%.

What is ETR's P/E ratio?

ETR's P/E ratio is 26.8x, which is 43% above its 5-year median P/E of 18.7x, indicating that the stock is trading at a premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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Entergy CEO Drew Marsh said the rapid buildout of data centers doesn't have to be a burden for residential communities.

"Data centers really want to be good neighbors," Marsh said on CNBC's "Mad Money" on Tuesday. "They have reputations that they want to protect, and they want to be part of the community."

The surge in AI-related power demand has sparked concerns among policymakers and homeowners that residential customers could end up footing the bill for data centers. Marsh said Entergy's approach is designed to avoid that outcome by requiring data center operators to cover the costs of serving their facilities while also contributing to expenses that would otherwise be shared across the utility's customer base.

The electric utility company — which serves customers across Louisiana, Arkansas, Mississippi and Texas — has adopted what it calls a "Fair Share Plus" framework for large data center customers.

"The Fair Share part says that they are going to pay all of the incremental infrastructure costs during the life of their contract as needed to support them," Marsh said.

Marsh added that the framework goes beyond requiring data centers operators to simply pay for the infrastructure they use.

"The plus part is that they are also covering some of the fixed costs," Marsh said. "That means overhead costs and storm costs that our existing customers would have already been paying."

At Entergy's investor day Tuesday, Marsh said those provisions are expected to generate roughly $7 billion in savings for existing customers over the 15 to 20-year life of the contracts.

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Entergy Corporation (ETR) Analyst/Investor Day Transcript