Entergy (ETR) investor relations material

Executive summary

• Adjusted EPS for Q2 2026 was $1.03, nearly flat year-over-year, with consolidated adjusted earnings of $483 million and strong industrial and technology sector demand driving retail sales growth.

• Affirmed 2026 adjusted EPS guidance and long-term outlooks through 2030, projecting greater than 8% CAGR in adjusted EPS.

• Significant demand growth from technology and industrial sectors, with 7–12 GW of hyperscale data center potential in the pipeline and major Meta agreements.

• Customer-centric strategy highlighted, including the Fair Share Plus pledge and community benefit models for data centers.

• Multiple credit agreements extended to June 2031, updating terms, margins, and lender eligibility, supporting ongoing liquidity and capital needs.

Financial highlights

• Adjusted EPS for Q2 2026 was $1.03, compared to $1.05 in Q2 2025; consolidated adjusted net income was $483 million, up from $468 million.

• Operating cash flow for Q2 2026 was $1.89 billion, up $631 million year-over-year, with cash and cash equivalents rising to $3.85 billion.

• Positive retail sales growth excluding weather, with 9.9–10% industrial sales growth.

• Completed $2.175 billion equity forward offering and $672 million in settled equity forwards; $200 million Texas Energy Fund grant received.

• Total debt rose to $34.7 billion, with gross liquidity at $8.2 billion and net liquidity at $10.0 billion.

Outlook and guidance

• 2026 adjusted EPS guidance reaffirmed at $4.25–$4.45, with outlooks through 2030 and majority of year-over-year earnings increase expected in Q4, assuming normal weather.

• Adjusted EPS outlooks for 2027–2030 range from $4.90–$7.35, representing a CAGR above 8% from 2025.

• Credit metric outlooks (CFO pre-working capital to debt >14%, FFO to debt >13%) remain above agency thresholds through 2030.

• 60% of five-year equity plan contracted, satisfying needs into 2028.