Entergy (ETR) investor relations material

Executive summary

• Reported strong Q1 2026 results with adjusted EPS of $0.86, driven by robust industrial and retail sales growth, new customer agreements including a major Meta deal, and significant customer and community benefits.

• Industrial sales grew 15% year-over-year, with overall retail sales up 6%, and a continued robust pipeline of 7–12 GW of potential data center customers.

• Launched the Fair Share Plus pledge, ensuring data centers pay for incremental and fixed costs, delivering $7 billion in estimated customer benefits and additional community investments.

• Utility segment earnings rose to $540 million, driven by regulatory actions and returns on construction work in progress, while Parent & Other segment posted a loss due to an impairment charge.

• Announced major generation projects, including renewables, battery storage, and new gas-fired plants, to support load growth.

Financial highlights

• First quarter adjusted EPS was $0.86, up from $0.82 in Q1 2025, with as-reported consolidated net income of $385 million and adjusted net income of $399 million.

• Operating cash flow increased to $829 million, and total operating revenues for Q1 2026 were $3.19 billion.

• Industrial sales grew 15% year-over-year, with retail sales up 6%, but retail sales growth earnings were neutral due to offsetting weather effects.

• As-reported ROE for the 12 months ended March 31, 2026, was 11.0%, with adjusted ROE at 11.0%.

• Cash and cash equivalents rose to $3.57 billion, and gross liquidity increased to $7.92 billion.

Outlook and guidance

• Affirmed 2026 adjusted EPS guidance at $6.25–$6.55, with a greater than 8% CAGR expected through 2029 and a $0.20–$0.50 increase in annual outlooks.

• Expect 12% year-over-year adjusted EPS growth from 2028 to 2029, with similar growth anticipated for 2030.

• Full outlook to 2030 will be provided at Investor Day in June.

• Strong credit metrics expected to remain above agency thresholds through 2029.