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Entergy Corporation reports developments tied to its regulated electric utility operations in Arkansas, Louisiana, Mississippi and Texas, where its operating companies generate, transmit and distribute electricity to more than 3 million customers. Recurring news includes quarterly earnings, capital plans, rate filings, grid resilience work, generation additions and customer agreements for large electric-service needs.
Company updates also cover shareholder dividends, common stock offerings with forward components, debt and equity financing activity, subsidiary preferred-stock dividends, sustainability and performance reporting, and regulatory proceedings before state utility commissions. Entergy's generation and investment themes include modern natural gas, nuclear and renewable resources, along with transmission and distribution projects serving its regional customer base.
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Entergy Corporation (NYSE: ETR) reported significant progress in power restoration efforts following Hurricane Laura, which impacted over 900,000 customers. As of September 22, 2020, approximately 99% of those affected have had power restored. The storm caused extensive damage to Entergy's infrastructure, including more than 600,000 outages and estimated restoration costs between $1.5 billion and $1.7 billion. Entergy expects utility revenues to be adversely impacted by around $35 million to $40 million due to these outages while affirming its 2020 adjusted earnings guidance of $5.45 to $5.75 per share.
Entergy Texas has announced a quarterly dividend of $0.336 per share of preferred stock, payable on October 15, 2020, to shareholders of record as of September 30, 2020. This dividend reflects the company's ongoing commitment to returning value to its investors. Entergy Texas serves approximately 461,000 customers across 27 counties, contributing to Entergy Corporation's total annual revenues of $11 billion.
Entergy Corporation (NYSE: ETR) will host its 2020 Virtual Analyst Day on Thursday, Sept. 24, 2020, from 1:00 p.m. to 3:30 p.m. ET. Presentations will be led by Chairman and CEO Leo Denault and the executive management team. A guest speaker will follow the business session. The event will be accessible via webcast on Entergy's website. Presentation slides will be available after market close on Sept. 23, 2020, and a replay will also be provided.
Entergy serves 2.9 million customers across four states.
Entergy Arkansas, LLC, a subsidiary of Entergy Corporation (NYSE: ETR), announced the redemption of two series of First Mortgage Bonds totaling $325 million. On October 14, 2020, it will redeem $200 million of 4.90% Bonds maturing in 2052 and $125 million of 4.75% Bonds maturing in 2063. The redemption price for both bonds will be 100% of their principal, plus accrued interest. These bonds are listed on the NYSE under the symbols EAB and EAE. Entergy Arkansas serves approximately 715,000 customers and has annual revenues of around $11 billion.
Entergy is mobilizing a storm team to assess and restore power after Hurricane Laura, a Category 4 hurricane, made landfall in Louisiana, causing extensive damage and power outages for approximately 360,000 customers across Louisiana and Texas. The company has deployed over 13,000 personnel from 27 states to expedite restoration efforts, focusing first on critical infrastructure such as hospitals and water treatment plants. Entergy urges customers to be patient and to keep streets clear for emergency services while restoration continues in the wake of the storm.
Entergy Corporation (NYSE: ETR) announced a quarterly dividend of $0.93 per share, payable on September 1, 2020, to shareholders of record by August 13, 2020. Entergy has consistently paid dividends since 1988, reflecting its commitment to shareholder returns. The company operates with an electric generating capacity of approximately 30,000 megawatts, including 8,000 megawatts from nuclear power. With annual revenues of $11 billion, Entergy serves 2.9 million customers across Arkansas, Louisiana, Mississippi, and Texas.
Entergy Corporation (NYSE: ETR) reported Q2 2020 earnings of $1.79 per share (GAAP) and $1.37 per share (adjusted), outperforming Q2 2019 figures of $1.22 and $1.35, respectively. Key highlights include exceeding sales expectations, reaffirming full-year guidance, and completing significant projects like the Western Region Phase 2 economic transmission. However, year-to-date earnings declined to $2.39 from $2.54 in 2019. The Utility segment achieved $345 million in earnings, while the Parent & Other segment reported a loss of $69 million.
Entergy Corporation (NYSE: ETR) will report its second quarter 2020 financial results on July 29, 2020, before market opening. Following the report, company leaders will host a conference call at 10 a.m. CT to discuss the results, which can be accessed via entergy.com/investors or by phone at (844) 309-6569, using conference ID 5161259. Entergy operates with about 30,000 megawatts of electric generating capacity and serves 2.9 million customers across Arkansas, Louisiana, Mississippi, and Texas, boasting annual revenues of $11 billion.
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