Entergy Reports First Quarter Earnings

Entergy Corporation affirms guidance and financial outlooks

NEW ORLEANS, LA (STL.News) Entergy Corporation (NYSE: ETR) reported first quarter 2020 earnings of 59 cents per share on an as-reported basis and $1.14 per share on an adjusted basis (non-GAAP).

“The past few months have presented extraordinary circumstances, and we extend our well-wishes to all affected.  We also extend our deepest thanks to everyone working tirelessly to help those in need,” said Entergy Chairman and Chief Executive Officer Leo Denault.  “Providing safe, reliable power is essential, especially during times like these; that’s why at Entergy we plan and prepare for the extraordinary, and our response has been effective.  We are meeting the needs and expectations of our customers and communities, our major projects remain on track, and our capital plan is unchanged.  Our first quarter results were solid, and recent events have not changed our objective to be the premier utility that delivers sustainable value for our stakeholders.”

Entergy Corporation business highlights included the following:

  • Entergy affirms 2020 adjusted EPS guidance of $5.45 to $5.75.
  • The Lake Charles Power Station was placed in service on budget and ahead of schedule.
  • Entergy Texas issued an RFP for a 1,000MW to 1,200MW CCGT and Entergy Louisiana issued an RFP for 250MW of solar resources.
  • Entergy Mississippi received approval for the Sunflower Solar project and Entergy Arkansas received approval for the Searcy Solar project.
  • Entergy Mississippi made its annual formula rate plan filing.
  • Entergy Texas filed for an increase in its distribution cost recovery factor.
  • Indian Point Unit 2 was permanently shutdown.
  • The Entergy Charitable Foundation established the COVID-19 Emergency Relief Fund.

NOTE: this is NOT the complete release.