Entergy Corp (ETR) Q1 2024 Earnings: Mixed Results Amid Regulatory Progress

GuruFocus.com04-24

Adjusted Earnings Per Share (EPS): Reported at $1.08 for Q1 2024, slightly below the analyst estimate of $1.51. As-Reported Earnings: $75 million for Q1 2024, a significant decrease from $311 million ...

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The company reported earnings per share  of $1.08 on an adjusted basis, closely aligning with analyst expectations of $1.51 EPS for the quarter. The reported net income stood at $230 million on an adjusted basis, compared to the estimated $333.18 million. Revenue details were not explicitly mentioned in the earnings release, but the company affirmed its","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PRGS":"Progress Software Corporation","ETR":"安特吉"},"translate_title":"Entergy Corp(ETR)Q1 2024年收益：监管进展导致业绩喜忧参半","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETR":1,"PRGS":1},"content_text":"Adjusted Earnings Per Share (EPS): Reported at $1.08 for Q1 2024, slightly below the analyst estimate of $1.51.\nAs-Reported Earnings: $75 million for Q1 2024, a significant decrease from $311 million in Q1 2023.\nAdjusted Net Income: Reached $230 million, falling short of the previous year's $242 million.\nUtility Segment Earnings: Adjusted earnings were $350 million, up from $329 million in Q1 2023, showing resilience in core operations.\nParent & Other Segment: Reported a loss of $120 million, widening from a loss of $86 million in the prior year.\n2024 EPS Guidance: Affirmed in the range of $7.05 to $7.35, aligning closely with annual analyst expectations.\nRegulatory Developments: Positive outlook from S&P Global Ratings and approval of significant resilience investments highlight strong regulatory support.\n\n\nWarning! GuruFocus has detected 10 Warning Signs with ETR.\n\nOn April 24, 2024, Entergy Corp (NYSE:ETR) disclosed its first-quarter earnings for 2024 through an 8-K filing. The company reported earnings per share (EPS) of $1.08 on an adjusted basis, closely aligning with analyst expectations of $1.51 EPS for the quarter. The reported net income stood at $230 million on an adjusted basis, compared to the estimated $333.18 million. Revenue details were not explicitly mentioned in the earnings release, but the company affirmed its guidance for the fiscal year, indicating stability in its financial outlook.\nEntergy, a major utility provider, serves approximately 3 million customers across Arkansas, Louisiana, Mississippi, and Texas. The company has been a significant player in the regulated utility sector, focusing on electricity generation and distribution. Recent regulatory developments have been pivotal for Entergy, influencing both its operational strategies and financial performance.\nQuarterly Financial Performance\nThe first quarter of 2024 saw Entergy achieve $75 million in as-reported earnings, a substantial decrease from $311 million in the same quarter of the previous year. This decline was primarily due to a $132 million write-off of a regulatory asset by Entergy Arkansas and a $79 million regulatory charge by Entergy New Orleans. These figures were adjusted in the non-GAAP earnings calculation, highlighting significant impacts from regulatory decisions.\nIn terms of operational highlights, Entergy has made strides in its resilience and grid hardening plans, with several approvals for substantial investments in infrastructure resilience. These developments are expected to enhance service reliability and customer satisfaction. Moreover, the company's commitment to sustainability and community engagement remains strong, with over $100 million delivered annually in economic benefits to local communities since 2018.\nStrategic and Regulatory Milestones\nEntergy's recent regulatory progress includes a noteworthy agreement with the CCNO, resolving longstanding complaints and paving the way for future operational stability. The company also reported successful refinancing activities and positive credit outlook revisions by S&P Global Ratings, reflecting confidence in its financial health and management practices.\nDespite these achievements, the company faced challenges such as increased operating expenses and impacts from weather conditions. However, Entergy's proactive measures in grid modernization and resilience investments are expected to mitigate such challenges over time.\nLooking Ahead\nFor 2024, Entergy reaffirms its adjusted EPS guidance range of $7.05 to $7.35, indicating a positive outlook for the remainder of the year. The company's strategic initiatives, focused on infrastructure enhancement and regulatory compliance, are likely to support its growth and financial stability.\nEntergy's performance this quarter reflects a complex interplay of operational achievements and regulatory challenges. As the company continues to navigate these dynamics, its focus on sustainable growth and community support positions it as a resilient player in the regulated utilities sector.\nFor more detailed information on Entergy's financial performance and strategic initiatives, investors and stakeholders are encouraged to view the full earnings release and supplementary materials available on the company's Investor Relations website.\n Explore the complete 8-K earnings release (here) from Entergy Corp for further details. This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429454227"}