Entergy Corporation

Entergy Corporation (NYSE: ETR) generates and supplies electricity through regulated utilities in Arkansas, Louisiana, Mississippi and Texas. Customer demand, approved rates and returns on utility investment drive its earnings.

September-quarter performance

Amounts are USD millions except diluted earnings per share, for the three months ended September 30. Net income is attributable to Entergy Corporation after subsidiary preferred dividends and minority interests.

Reported and adjusted quarterly earnings were identical. Entergy estimated a weather benefit of 24 cents per share versus 6 cents a year earlier. Weather-adjusted retail sales rose 4.5%, with industrial growth of 4.9% led by data centers and primary metals customers.

Rate recovery and returns on projects under construction also helped. Higher maintenance, interest and depreciation, the accounting charge for using long-lived assets, offset part of the gain. Average diluted shares rose to 474.4 million from 453.6 million as previously arranged equity sales settled.

Annual outlook and project milestones

On November 2, Entergy narrowed its 2026 adjusted earnings forecast to $4.35 to $4.45 per share from the $4.25 to $4.45 range maintained on July 29. The lower end rose by 10 cents; the upper end was unchanged. The adjusted measure excludes specified unusual tax, regulatory and other items.

Orange County Advanced Power Station is operating and serving Entergy Texas customers. Louisiana regulators approved the $1.2 billion Babel to Webre transmission project. Entergy Louisiana reached a staff settlement in its Evest filing, while a separate additional resilience investment plan remained an application.

Cash flow and capital

Operating cash flow for the nine months ended September 30 was $4.957 billion, versus $3.933 billion. Operating cash included a $1.104 billion movement in current customer advances and $153 million in noncurrent advances, compared with $293 million and $25 million in 2025.

The gross construction and capital expenditure line was $7.743 billion, versus $5.557 billion. Nuclear fuel purchases and the adjustment for equity funds used during construction are separate cash-flow lines. Entergy received $1.930 billion from common stock issuance during the nine months.

At September 30, cash and equivalents were $4.205 billion, versus $1.517 billion a year earlier. Total debt, including finance leases, securitization debt and junior subordinated debt, was $34.936 billion, versus $30.563 billion.