Entergy reports second quarter 2026 financial results

Company affirms guidance and outlooks

NEW ORLEANS, July 29, 2026 /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 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).

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-4 provides a comparative summary of OCF by business. 

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.

reported

reported

reported

reported

reported

reported

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

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

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.

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

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

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

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

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.

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SOURCE Entergy Corporation