Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $31.39B|Employees: N/A
Entergy Corporation is a holding company that primarily operates through its Utility segment, which generates, transmits, distributes, and sells electricity in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans. The company also operates a small natural gas distribution business in portions of Louisiana. Entergy's market position is supported by its integrated operations in key markets and its ability to leverage its diverse geographic presence.
Entergy Corporation reports a net loss attributable to Entergy Corporation of $75.3 million, a significant decrease from the $310.9 million net income reported in the first quarter of 2023. This decline is primarily due to a $132 million charge related to an adverse decision in the Entergy Arkansas opportunity sales proceeding and a $78 million regulatory charge recorded at Entergy New Orleans.
Operating revenues decreased from $2,981.1 million in Q1 2023 to $2,794.6 million in Q1 2024, indicating a decline in top-line performance. The decrease is attributed to various factors, including changes in fuel, rider, and storm restoration revenues, as well as volume/weather effects and retail electric prices.
Fuel, fuel-related expenses, and gas purchased for resale decreased from $898.4 million to $616.6 million. This is due to lower natural gas prices.