Utilities
Utilities - Regulated Electric
$31.39B
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.
Key insights and themes extracted from this filing
Entergy Corporation's net income attributable to Entergy Corporation increased from $75.3 million to $360.8 million year-over-year. This was primarily driven by a decrease in operating expenses.
Operating revenues increased from $2,794.6 million to $2,846.9 million. The increase was driven by an increase in retail electric price and volume/weather.
Fuel, fuel-related expenses, and gas purchased for resale decreased from $616.6 million to $344.5 million. Purchased power decreased from $228.1 million to $345.7 million.
Entergy Louisiana filed an application with the LPSC seeking approval of generation and transmission resources in connection with establishing service to a new data center. The filing requests LPSC certification of three new combined cycle combustion turbine generation resources totaling 2,262 MW, a new 500 kV transmission line, and 500 kV substation upgrades.
Entergy Texas filed an application seeking PUCT approval to amend Entergy Texas's certificate of convenience and necessity to construct, own, and operate the Legend Power Station, a 754 MW combined-cycle combustion turbine facility, and the Lone Star Power Station, a 453 MW simple-cycle combustion turbine facility.
In March 2025, Entergy marketed an equity offering of 17.8 million shares of Entergy Corporation common stock. In lieu of issuing equity at the time of the offering, Entergy entered into forward sale agreements with several forward counterparties.
Entergy Arkansas filed an application with the APSC seeking a certificate for the construction and operation of Lake Catherine Unit 5. In December 2024 other parties, including the APSC general staff, filed testimony opposing the resource, although the APSC general staff recognized the capacity need for the resource.
In March 2025 the LPSC issued an order accepting Entergy Louisiana's evaluation report for its 2023 calendar year operations. The filing reflected a 9.7% allowed return on common equity with a bandwidth of 40 basis points above and below the midpoint.
In April 2025 the PUCT approved the TCRF rider, consistent with Entergy Texas's as-filed request, and rates became effective for usage on and after April 7, 2025. The rider was designed to collect from Entergy Texas's retail customers approximately $9.7 million annually based on its capital invested in transmission between January 1, 2022 and June 30, 2024.
Recent announcements of changes to international trade policy and tariffs and further similar changes may impact Entergy's business, operations, results of operations, and liquidity and capital resources. Potential impacts may include increases in costs associated with Entergy's capital investments or operations and maintenance expenses.
Entergy faces regulatory and operating challenges to meet the rapidly growing demand for electricity, including from hyperscale data center and other large customers, and to manage the impacts of growth in demand for electricity on customers and Entergy's business.
Uncertainty regarding the establishment of interim or permanent sites for spent nuclear fuel and nuclear waste storage and disposal and the level of spent fuel and nuclear waste disposal fees charged by the U.S. government or other providers related to such sites.
Entergy faces competition from other companies offering products and services to Entergy's customers based on new or emerging technologies or alternative sources of generation.
Entergy has achieved market share gains in key segments despite intense competition. This is attributed to product innovation and enhanced customer support.
Entergy faces regulatory and operating challenges and uncertainties and economic risks associated with the Utility operating companies' participation in MISO, including the benefits of continued MISO participation, the effect of current or projected MISO market rules, market design and market and system conditions in the MISO markets, the allocation of MISO system transmission upgrade costs, delays in developing or interconnecting new generation or other resources or other adverse effects arising from the volume of requests in the MISO transmission interconnection queue.
Other operation and maintenance expenses decreased from $681 million for the first quarter 2024 to $662 million for the first quarter 2025 primarily due to contract costs of $12 million, in first quarter 2024, related to operational performance, customer service, and organizational health initiatives and a decrease of $8 million in compensation and benefits costs primarily due to a higher revision to estimated incentive-based compensation expense in first quarter 2025 as compared to first quarter 2024.
Other operation and maintenance expenses decreased primarily due to a decrease of $4.1 million in power delivery expenses primarily due to lower scope of work performed in 2025 as compared to 2024 and contract costs of $2.9 million, in first quarter 2024, related to operational performance, customer service, and organizational health initiatives.
an increase of $53 million in transmission construction expenditures primarily due to increased spending on various transmission projects in 2025.
Entergy Louisiana filed an application with the LPSC seeking approval of a variety of generation and transmission resources proposed in connection with establishing service to a new data center to be developed by a subsidiary of Meta Platforms, Inc. in north Louisiana, for which an electric service agreement has been executed.
Entergy Arkansas made the initial payment of approximately $170 million in February 2024 for the purchase of the Walnut Bend Solar facility.
As discussed in the Form 10-K, in March 2024 the SEC issued final rules that require registrants to provide certain climate-related disclosures in annual reports and registration statements in order to enhance and standardize climate-related disclosures for investors. In April 2024 the SEC stayed the final rules, pending judicial review of consolidated challenges to the rules by the United States Court of Appeals for the Eighth Circuit. In March 2025, the SEC voted to end its defense of the final rules against parties that have legally challenged the rules. Entergy will continue to monitor developments related to the SEC's stay of, and subsequent vote to end its defense in litigation of, the rules.
Long-term debt activity providing approximately $1,595 million of cash in 2025 compared to providing approximately $1,371 million of cash in 2024.
During the three months ended March 31, 2025, Entergy Corporation reissued 1,193,693 shares of its previously repurchased common stock to satisfy stock option exercises, vesting of shares of restricted stock, and
On April 7, 2025, Entergy Corporation's Board of Directors declared a common stock dividend of $0.60 per share, payable on June 2, 2025 to holders of record as of May 2, 2025.
Entergy Louisiana filed an application with the LPSC seeking approval of a variety of generation and transmission resources proposed in connection with establishing service to a new data center. The application also requests approval to implement a corporate sustainability rider applicable to the new customer.
Entergy's ability to effectively formulate and implement plans to increase its carbon-free energy capacity and to reduce its carbon emission rate and aggregate carbon emissions, including its commitment to achieve net-zero carbon emissions by 2050 and the related increasing investment in renewable power generation sources and carbon capture and storage.
As discussed in the Form 10-K, in March 2024 the SEC issued final rules that require registrants to provide certain climate-related disclosures in annual reports and registration statements in order to enhance and standardize climate-related disclosures for investors. In April 2024 the SEC stayed the final rules, pending judicial review of consolidated challenges to the rules by the United States Court of Appeals for the Eighth Circuit. In March 2025, the SEC voted to end its defense of the final rules against parties that have legally challenged the rules. Entergy will continue to monitor developments related to the SEC's stay of, and subsequent vote to end its defense in litigation of, the rules.
The volume/weather variance is primarily due to the effect of more favorable weather on residential sales and an increase in industrial usage. The increase in industrial usage is primarily due to an increase in demand from large industrial customers, primarily in the petroleum refining, chlor-alkali, and primary metals industries.
Recent announcements of changes to international trade policy and tariffs and further similar changes may impact Entergy's business, operations, results of operations, and liquidity and capital resources. Potential impacts may include increases in costs associated with Entergy's capital investments or operations and maintenance expenses.
Entergy faces regulatory and operating challenges to meet the rapidly growing demand for electricity, including from hyperscale data center and other large customers, and to manage the impacts of growth in demand for electricity on customers and Entergy's business.