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Entergy Corporation - ETR STOCK NEWS

Welcome to our dedicated page for Entergy Corporation news (Ticker: ETR), a resource for investors and traders seeking the latest updates and insights on Entergy Corporation stock.

Entergy Corporation (NYSE: ETR) is a leading integrated energy company primarily engaged in electric power production and retail distribution operations. With its headquarters in New Orleans, Louisiana, Entergy owns and operates power plants with a total capacity of approximately 30,000 megawatts, including over 10,000 megawatts of nuclear power, making it one of the largest nuclear generators in the United States. The company provides electricity to about 3 million customers across Arkansas, Louisiana, Mississippi, and Texas through its five regulated utilities.

Entergy is dedicated to delivering reliable and affordable energy while maintaining a strong focus on sustainability and corporate citizenship. The company is committed to transitioning to cleaner, more efficient energy solutions, as demonstrated by its significant investments in renewable energy and grid resilience. Entergy is also known for its economic contributions, providing over $100 million annually in benefits to local communities through philanthropy, volunteerism, and advocacy.

In 2023, Entergy reported annual revenues exceeding $11 billion and employed approximately 15,000 people. The company's financial performance was highlighted by fourth-quarter earnings of $988 million on an as-reported basis and $111 million on an adjusted basis. For the full year, Entergy's earnings were $2,357 million on an as-reported basis and $1,438 million on an adjusted basis. These results underscore Entergy's focus on operational excellence and customer satisfaction.

Recent achievements include the resolution of the 2016-2018 IRS audit, which resulted in a $568 million income tax benefit, and the successful execution of clean energy projects to support a growing customer base. Entergy's strategic initiatives also encompass partnerships with organizations like Feed the Second Line's Get Lit, Stay Lit clean energy initiative, and its sponsorship of the Bayou Regional FIRST Robotics Competition, which underscores its commitment to STEM education and community development.

Looking forward, Entergy has initiated its 2024 adjusted EPS guidance range from $7.05 to $7.35, projecting a stable financial outlook. The company remains focused on delivering meaningful value to its stakeholders while advancing its goals of sustainability and reliability in the energy sector.

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Entergy Texas has committed $125,000 to the American Red Cross to aid in the relief efforts for Hurricane Beryl, which has caused significant damage in Southeast Texas. This donation aims to support essential services such as shelter, food, and medical care for those affected by the Category 1 hurricane. The hurricane's impact has led to widespread devastation and displacement, highlighting the need for urgent assistance. Eliecer Viamontes, president and CEO of Entergy Texas, emphasized the company's dedication to community support during this critical time. For more details on Entergy Texas' recovery efforts, visit their online Storm Center.

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Entergy emphasizes its commitment to customer affordability, sustainability, and social responsibility. The company highlights its efforts in leveraging federal funding opportunities to invest in resilient energy infrastructure and support disadvantaged communities. Entergy's initiatives include providing resources for education and career opportunities, particularly for minorities and historically marginalized populations. They propose a $15 billion plan to modernize the electrical grid, aiming to reduce restoration costs and disruption risks from major storms by 55%. Additionally, Entergy is targeting net-zero greenhouse gas emissions by 2050, transitioning to low- and zero-carbon energy sources. These strategic investments are designed to ensure reliable, clean, and affordable energy for their 3 million residential customers.

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Entergy has been named the most generous workplace by United Way of Southeast Louisiana (UWSELA) for 2023-2024, marking the 10th consecutive year it has ranked in the top 10. United Way President Michael Williamson praised Entergy's efforts in promoting health, education, and financial stability in Southeast Louisiana.

In 2023, Entergy's shareholders and employees contributed over $1.1 million to UWSELA. Entergy's commitment to community support includes volunteerism, corporate gifts, and fundraisers, significantly impacting local communities, including Jefferson, Orleans, Plaquemines, and other parishes.

Patty Riddlebarger, Entergy's VP of Corporate Social Responsibility, emphasized the company's dedication to local communities through partnerships with United Way. Entergy's initiatives focus on poverty alleviation, education, workforce development, and environmental care, with an overall economic impact of nearly $140 million in 2023.

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Entergy Texas has announced a quarterly dividend of $0.3359375 per share on its Series A Preferred Stock.

This dividend will be paid on July 15, 2024, to shareholders who are on record as of July 3, 2024.

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Entergy Mississippi has committed $425,654 to assist older adults and customers with disabilities through its The Power to Care program. The announcement was made at a Mississippi Braves game. This initiative, funded by employees, customers, and shareholders, aims to alleviate the financial burden of increased electricity usage during extreme heat. The program, supported by The Salvation Army, ensures that contributions go directly to bill payments and are matched by Entergy shareholders up to $500,000. Additionally, the company offers energy efficiency tips and upgrades through its Entergy Solutions Marketplace. Customers struggling with bills may also qualify for federal assistance via the Low-Income Home Energy Assistance Program (LIHEAP).

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In the summer of 2023, Entergy New Orleans launched the Know Your Power pilot program, collaborating with YouthForce NOLA to expose high school students to career paths in the energy sector. This year, the program expanded to include a high school teacher externship component through a partnership with Junior Achievement of Greater New Orleans (JAGNO). Five experienced teachers from Orleans Parish schools participated in a two-day job-shadowing experience, gaining insights into the energy industry. The program aims to align students' strengths with career opportunities at Entergy and prepare a local diverse talent pipeline. Feedback from participating teachers was overwhelmingly positive. The program's success will continue with six high school students joining the summer internship in late June 2024.

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Entergy Arkansas is intensifying its philanthropic efforts in June to combat food insecurity, particularly during the summer months when children lose access to school-provided meals. One in five Arkansans faces hunger, with the rate rising to one in four for children.

As the defending champions of the Arkansas Foodbank and KTHV Channel 11 Summer Cereal Drive, Entergy Arkansas was the largest donor last year, contributing over $30,000. The drive aims to provide meals to families year-round, with every $1 donation purchasing a box of cereal equivalent to five meals.

Entergy Arkansas also supports the Arkansas Hunger Relief Alliance, donating $110,000 last year. The alliance includes over 500 members committed to reducing hunger through various initiatives. This year’s activities include the Hunger Action Breakfast, Serving Up Solutions, Watermelon Crawl, and College Hunger Summit.

Additional efforts focus on promoting diversity and inclusion, such as supporting the Mosaic Templars Cultural Center Juneteenth in Da Rock commemoration.

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Entergy (NYSE: ETR) and NextEra Energy Resources, a NextEra Energy subsidiary (NYSE: NEE), have announced a joint development agreement to develop up to 4.5 gigawatts (GW) of new solar and energy storage projects. This five-year agreement aims to expand Entergy's renewable energy portfolio and address growing electricity demand in Arkansas, Louisiana, Mississippi, and Texas. This collaboration builds on an existing partnership, adding to the 1.7 GW of renewable projects already in progress. Entergy aims to leverage this initiative to provide low-cost, renewable energy to its customers.

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Entergy will host its 2024 Analyst Day on Friday, June 7. The event will feature CEO Drew Marsh and the executive management team, who will discuss the company's growth opportunities and business strategy for delivering reliable, affordable, and cleaner energy. A live audio webcast will begin at 10 a.m. ET on Entergy's Investor Relations website, where presentation materials will also be available prior to market open on the same day. A replay of the webcast will be accessible after the event.

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On May 30, 2024, at the New Orleans Jazz & Heritage Festival, Entergy partnered with the American Indian College Fund (AICF) to present a $50,000 grant to support Native American students' higher education. This marks the ninth consecutive year of collaboration, benefiting students from the United Houma Nation and others. Entergy Louisiana President Phillip May and VP for Corporate Social Responsibility Patty Riddlebarger emphasized the company's dedication to overcoming educational barriers. Since 2015, Entergy has funded over $315,000 in scholarships for 135 Native American students, addressing the community's educational underrepresentation. The AICF has aimed for a 60% graduation rate by 2025 and has awarded over 150,000 scholarships worth more than $280 million since its inception in 1989.

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FAQ

What is Entergy Corporation's primary business?

Entergy Corporation primarily engages in electric power production and retail distribution, serving around 3 million customers in Arkansas, Louisiana, Mississippi, and Texas.

How much power generation capacity does Entergy own?

Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including over 10,000 megawatts of nuclear power.

Where is Entergy Corporation headquartered?

Entergy Corporation is headquartered in New Orleans, Louisiana.

What were Entergy's financial results for 2023?

In 2023, Entergy reported annual revenues exceeding $11 billion, with fourth-quarter earnings of $988 million on an as-reported basis and $111 million on an adjusted basis.

What is Entergy's commitment to sustainability?

Entergy is committed to transitioning to cleaner, more efficient energy solutions, investing in renewable energy projects and enhancing grid resilience to support sustainable development.

What community initiatives is Entergy involved in?

Entergy supports numerous community initiatives, including Feed the Second Line's Get Lit, Stay Lit clean energy project and the Bayou Regional FIRST Robotics Competition, focusing on STEM education and community development.

What is the significance of Entergy's nuclear power generation?

With over 10,000 megawatts of nuclear power, Entergy is one of the largest nuclear power generators in the U.S., contributing significantly to its clean energy portfolio.

How does Entergy contribute to local communities?

Entergy provides over $100 million annually to local communities through philanthropy, volunteerism, and advocacy, fostering economic development and social well-being.

What is Entergy's 2024 earnings guidance?

Entergy has initiated its 2024 adjusted EPS guidance range of $7.05 to $7.35, indicating a stable financial outlook and continued focus on delivering value to stakeholders.

How many employees does Entergy have?

Entergy employs approximately 15,000 people, dedicated to providing reliable and affordable energy to its customers.

Entergy Corporation

NYSE:ETR

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23.31B
213.54M
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1.66%
Nuclear Electric Power Generation
Utilities
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United States of America
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