Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $3.91 for 2025, which is in the top half of the guidance range, with expectations of over 8% annual growth through 2029 [3][25] - Retail sales increased approximately 4% in 2025, with industrial sales contributing a 7% increase [25][26] - The company anticipates an 8% compound annual growth rate in retail sales through 2029, driven by a 15% growth in industrial sales [4][26] Business Line Data and Key Metrics Changes - The company achieved 4% sales growth in 2025, primarily driven by industrial sales [4] - Significant electric service agreements totaling approximately 3.5 gigawatts were signed in 2025, indicating strong demand from data centers and traditional industrial segments [5][6] - The company has a pipeline of 7-12 gigawatts for data centers and 3-5 gigawatts for other industries, with a clear line of sight on equipment to serve 8 gigawatts of incremental load [6][12] Market Data and Key Metrics Changes - Entergy's utility remains in the first quartile for Net Promoter Score for both residential and business customers, with Entergy Texas ranked number one in customer satisfaction for business electric service in the South [4] - The company noted record employment milestones across all states in 2025, reflecting positive economic development activity [8] Company Strategy and Development Direction - The company is focused on a customer-first strategy that aims to create value for all stakeholders, with a $43 billion capital plan through 2029 to support customer needs [11][25] - The company is exploring new rate offerings such as demand response and time of use rates to complement existing billing options [10] - Entergy is committed to maintaining low rates while improving customer experience and reliability through investments in infrastructure [4][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook, citing strong demand from data centers and industrial sectors [5][25] - The company is proactive in addressing equity needs and has secured significant credit requirements to protect existing customers [31][43] - Management acknowledged the impact of Winter Storm Fern on operations, estimating restoration costs of up to $300 million for Louisiana and up to $200 million for Mississippi [31] Other Important Information - The company plans to host an Investor Day on June 9 in New York City to discuss significant opportunities and provide a five-year outlook [24] - The company has implemented various programs to improve reliability and reduce outages, funded by data center revenues [9][10] Q&A Session Summary Question: On the large load ramp, was phase one of Hut 8 already partially in plan? - Management indicated that Hut 8 is included in the probability-weighted growth but does not add to the capital plan at this stage [38][39] Question: What protections are in place for large load customers? - Management confirmed that significant credit requirements, including termination fees and minimum bills, are in place to protect against customer walkaways [42][43] Question: What updates should be expected at the Investor Day? - Management stated that the Investor Day will provide more clarity on data center contracts and a longer-term outlook, with potential announcements depending on timing [68] Question: How is the company addressing customer benefits from data centers? - Management explained that the $5 billion in rate offsets is related to contributions to fixed costs and investments in resilience and reliability [60][61] Question: What is the status of the Cottonwood addition to the capital plan? - Management confirmed that Cottonwood is included in the capital plan and is pending regulatory approval [61]

Core Viewpoint - Entergy Corporation (ETR) is expected to report its fourth-quarter 2025 earnings on February 12, with a prior earnings surprise of 4.79% in the last quarter [1] Factors Impacting Q4 Results - Warmer-than-normal weather conditions in Entergy's service territories likely reduced electricity demand for heating, negatively impacting top-line performance [2] - Increased retail and industrial sales, along with rising demand from data centers, may have partially offset the negative impact on performance [2][3] - Higher operations and maintenance expenses could have countered some of the positive factors in the quarter [4] Q4 Expectations - The Zacks Consensus Estimate for sales is $2.9 billion, indicating a year-over-year growth of 5.9% [5] - The consensus estimate for earnings per share is 51 cents, reflecting a year-over-year decline of 22.7% [5] Earnings Prediction Model - The earnings model predicts a potential earnings beat for ETR, supported by a positive Earnings ESP of +1.64% and a Zacks Rank of 3 (Hold) [6][7] Other Industry Players - Eversource Energy (ES) is also expected to report on February 12, with an Earnings ESP of +1.27% and a Zacks Rank of 2, indicating a potential earnings beat [8][9] - IDACORP, Inc. (IDA) and Alliant Energy (LNT) are scheduled to report their results on February 19, with positive Earnings ESPs and Zacks Ranks suggesting favorable outcomes [9][10]

Caution regarding forward-looking statements and Regulation G compliance In this presentation, and from time to time, Entergy Corporation makes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, statements regarding Entergy's 2026 adjusted earnings per share guidance; financial and operational outlooks; industrial load growth outlooks; statements regarding its resilience plans, goals, b ...

Core Insights - Entergy Corporation (ETR) reported fourth-quarter 2025 earnings of 51 cents per share, matching the Zacks Consensus Estimate, but reflecting a 22.7% decline from 66 cents in the same quarter last year [1][7] - For the full year 2025, ETR's adjusted earnings were $3.91 per share, an increase from $3.65 in 2024 [1] Revenue Performance - ETR's total revenues for Q4 2025 were $2.96 billion, exceeding the Zacks Consensus Estimate of $2.91 billion by 1.9%, and representing an 8% increase from $2.74 billion in Q4 2024 [2] - Total revenues for 2025 reached $12.95 billion, up from $11.88 billion in 2024 [2] Segment Results - The Utility segment reported earnings of 83 cents per share, down from 97 cents in Q4 2024 [3] - The Parent & Other segment incurred a loss of 32 cents per share, wider than the loss of 31 cents in the same quarter last year [3] Operating and Financial Highlights - Operating expenses rose to $2.41 billion, a 14.2% increase from $2.07 billion in the prior-year quarter [4] - Operating income decreased to $545.7 million, down 18.5% from $669.6 million in the year-ago period [4] - Total interest expenses increased to $374.5 million, up 18.4% from $316.1 million in Q4 2024 [4] - As of December 31, 2025, ETR served 3.06 million electric retail customers, a 0.7% increase [4] Cash and Debt Position - As of December 31, 2025, Entergy had cash and cash equivalents of $1.93 billion, compared to $0.86 billion a year earlier [5] - Long-term debt stood at $27.9 billion, up from $26.61 billion as of December 31, 2024 [5] - Cash generated from operating activities for 2025 was $1.22 billion, down from $1.38 billion in the previous year [5] Future Guidance - Entergy provided guidance for 2026 adjusted earnings in the range of $4.25 to $4.45 per share, with the Zacks Consensus Estimate currently at $4.39 per share, above the midpoint of the guidance [6]

分组1 - Entergy reported quarterly earnings of $0.51 per share, matching the Zacks Consensus Estimate, but down from $0.66 per share a year ago, indicating an earnings surprise of +0.65% [1] - The company achieved revenues of $2.96 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.88% and up from $2.74 billion year-over-year [2] - Entergy has outperformed the S&P 500 with an 8.4% increase in share price since the beginning of the year, compared to the S&P 500's gain of 1.4% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.92 on revenues of $3.05 billion, and for the current fiscal year, it is $4.39 on revenues of $13.84 billion [7] - The Zacks Industry Rank for Utility - Electric Power is in the bottom 44% of over 250 Zacks industries, suggesting that the industry's outlook may negatively impact stock performance [8]

Financial Performance - Entergy reported fourth quarter 2025 earnings per share of $0.51, down from $0.65 in Q4 2024, and full year 2025 earnings per share of $3.91, up from $2.45 in 2024[1][7][8]. - For full year 2025, Entergy's Utility business reported earnings of $2,280 million, or $5.06 per share, compared to $1,827 million, or $4.23 per share in 2024[11]. - Adjusted earnings for full year 2025 were $1,758 million, an increase of $181 million from $1,577 million in 2024[5][8]. - Consolidated adjusted earnings for Q4 2025 were $236 million, a decrease of 19% compared to $291 million in Q4 2024, with full-year adjusted earnings rising by 11.5% to $1,758 million from $1,577 million[42]. - The Parent & Other segment reported a loss of $(521 million) for full year 2025, an improvement from a loss of $(771 million) in 2024[14]. - Utility reported earnings for Q4 2025 were $381 million, down 5.7% from $404 million in Q4 2024, while full-year earnings increased by 24.8% to $2,280 million from $1,827 million[42]. - The company reported a decrease in interest expense to $1,203,588,000, down from $1,150,820,000, indicating a reduction in financing costs[73]. - Consolidated net income for 2025 reached $1,773,328, an increase of $712,144 or 67.0% compared to $1,061,184 in 2024[76]. Revenue and Sales - Fourth quarter 2025 total retail sales increased by 1.8% to 30,017 GWh compared to 29,497 GWh in Q4 2024, with a full year increase of 4.1% to 128,960 GWh[54]. - Consolidated operating revenues for Q4 2025 reached $2,958,944, an increase from $2,742,305 in Q4 2024, representing a growth of approximately 7.9% year-over-year[70][71]. - Year-to-date operating revenues for 2025 totaled $12,946,686, compared to $12,887,921 in 2024, showing a slight increase of about 0.5%[72]. - Consolidated operating revenues for Entergy Corporation reached $11,879,653,000, with electric revenues contributing $11,627,732,000, and natural gas revenues at $178,070,000[73]. Costs and Expenses - Total operating expenses for Q4 2025 amounted to $2,413,236, up from $2,072,690 in Q4 2024, marking an increase of around 16.4%[70][71]. - Full year 2025 earnings decrease from higher utility depreciation and amortization was primarily due to higher plant in service and increased nuclear depreciation rates[57]. - Interest expense for Q4 2025 was $374,512, an increase from $316,080 in Q4 2024, representing a rise of about 18.4%[70][71]. Cash Flow and Liquidity - Operating cash flow (OCF) for Q4 2025 was $1,218 million, down 11.7% from $1,380 million in Q4 2024, while full-year OCF increased by 14.4% to $5,151 million from $4,489 million[46]. - Cash and cash equivalents totaled $1,929 million as of December 31, 2025, compared to $860 million a year earlier, indicating improved liquidity[66]. - The net increase in cash and cash equivalents was $411,947,000, contrasting with a decrease of $552,109,000 in 2024, resulting in a net change of $964,056,000[74]. - Net cash flow provided by operating activities increased to $5,150,651, up $662,141 or 14.7% from $4,488,510 in 2024[76]. Debt and Capitalization - Total debt increased to $31,050 million in Q4 2025 from $29,034 million in Q4 2024, while adjusted debt rose to $29,579 million from $28,194 million[65]. - The total capitalization of Entergy Corporation was $48,284 million in Q4 2025, up from $44,438 million in Q4 2024, reflecting growth in the company's financial structure[65]. - Total consolidated liabilities and equity for Entergy Corporation as of December 31, 2025, is $71,890,730,000, an increase from $64,790,032,000 in 2024, reflecting a growth of approximately 10.5%[67][69]. - Long-term debt rose to $27,902,021,000 in 2025, up from $26,613,505,000 in 2024, indicating an increase of approximately 4.8%[67][69]. Regulatory and Operational Developments - The APSC approved multiple projects, including the Jefferson Power Station and special rate contracts for Google, enhancing Entergy's operational capacity[4]. - The company anticipates continued growth in electricity demand, particularly from hyperscale data centers and large customers, which may impact future operational strategies[42]. - Entergy was named a Top Utility in economic development for the 18th consecutive year by Site Selection magazine[4]. Shareholder Information - The diluted average number of common shares outstanding increased to 459 million in Q4 2025 from 438 million in Q4 2024, and for the full year, it rose to 450 million from 432 million[42]. - Basic earnings per share for Q4 2025 were $0.52, down from $0.67 in Q4 2024, indicating a decline of approximately 22.4%[70][71].

Group 1 - Entergy Corp. projects adjusted earnings guidance for full-year 2026 in the range of $4.25 to $4.45 per share [1] - Analysts polled expect the company to report earnings of $4.40 per share for the quarter, based on estimates that typically exclude special items [1] - In pre-market trading, Entergy Corp. is trading at $97.75, down $2.46 or 2.45 percent [1]

Core Insights - Entergy Corporation reported fourth quarter 2025 earnings per share of 51 cents, with full year earnings per share at $3.91, reflecting a significant increase from 2024 [1][2] - The company emphasized its customer-first strategy, securing electric service agreements with data centers and industrial customers, contributing to its transformational growth [1][2] Financial Performance - Fourth quarter 2025 consolidated earnings were $236 million, down from $286 million in 2024, while full year earnings rose to $1,758 million from $1,056 million in 2024 [1][2] - Adjusted earnings for the fourth quarter were $236 million, compared to $291 million in 2024, and for the full year, adjusted earnings were $1,758 million, up from $1,577 million in 2024 [1][2] Business Segments - The Utility business reported earnings of $2,280 million for 2025, an increase from $1,827 million in 2024, driven by lower nuclear refueling outage expenses and higher retail sales volume [1][2] - Parent & Other segment reported a loss of $(521) million for 2025, an improvement from a loss of $(771) million in 2024, attributed to lower fuel and purchased power expenses [1][2] Regulatory and Operational Highlights - Entergy received several regulatory approvals for projects, including the acquisition of the Cottonwood generating facility and the construction of new solar facilities [1][2] - The company was recognized with a Corporate Citizenship Award and named a Top Utility in economic development for the 18th consecutive year [1][2] Guidance and Future Outlook - Entergy initiated its 2026 adjusted earnings per share guidance range of $4.25 to $4.45, indicating a positive outlook for the upcoming year [1][2]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Core Viewpoint - Jefferies expresses a positive outlook on five dividend-paying utility stocks while cautioning about potential regulatory and political challenges in the sector due to upcoming elections [1]. Group 1: Sector Overview - The utility sector has seen a significant increase, with a nearly 21% gain from its low in April 2025, driven by rising electricity demand from data centers [1]. - Despite the positive start to 2026, investor concerns have emerged due to unfavorable regulatory and political developments, particularly with 36 gubernatorial elections expected [1]. - Jefferies highlights that utility stocks are likely to perform better than high-flying technology stocks during potential market declines [1]. Group 2: Recommended Utility Stocks - **Ameren Corp. (NYSE: AEE)**: Offers a 2.69% dividend; operates in four segments including electric and natural gas distribution. Jefferies target price is $124 [1]. - **CenterPoint Energy Inc. (NYSE: CNP)**: Provides a 2.16% dividend; operates electric and natural gas distribution services. Jefferies target price is $44 [1]. - **Entergy Corp. (NYSE: ETR)**: Engaged in electric power production with a 2.48% dividend; operates in the Deep South. Jefferies target price is $114 [2]. - **NiSource Inc. (NYSE: NI)**: Offers a 2.55% yield; operates natural gas distribution in several states. Jefferies target price is $49 [2]. - **One Gas Inc. (NYSE: OGS)**: Provides a 3.32% dividend; focuses on natural gas distribution across multiple states. Jefferies target price is $95 [2].