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Entergy Corporation (ETR - Free Report) reported fourth-quarter 2022 earnings of 51 cents per share, which surpassed the Zacks Consensus Estimate of 45 cents by 13.3%. The reported figure, however, declined 60.1% from $1.28 per share in the year-ago quarter.
For full-year 2022, ETR reported adjusted earnings of $6.42 per share compared with $6.02 in the year-ago quarter. The full-year earnings also surpassed the Zacks Consensus Estimate of $6.38 per share.
Total Revenues
Entergy’s fourth-quarter revenues of $3,272.5 million surpassed the Zacks Consensus Estimate of $3,517.9 million by 7%. Further, revenues increased 20.2% from $2,722.5 million in the year-ago quarter due to higher Electric and Natural gas revenues.
For full-year 2022, total revenues came in at $13.76 billion, higher than $11.74 billion recorded in 2021. The full-year revenues also surpassed the Zacks Consensus Estimate of $13.09 billion.
Entergy Corporation Price, Consensus and EPS Surprise
Utility: The segment’s quarterly earnings came in at $1.15 per share compared with $1.17 in the prior-year quarter.
Parent & Other: The segment incurred a loss of 58 cents per share compared with a loss of 33 cents in the prior-year quarter.
Highlights of the Release
Operating expenses in the fourth quarter were $2.82 billion, up 18.6% from $2.39 billion in the year-ago quarter.
The operating income during the quarter totaled $448.9 million, up 31.4% from $3416 million in the year-ago quarter.
Total interest expenses were $245.5 million, up 11.2% from $220.9 million in the year-ago quarter.
As of Dec 31, 2022, total retail customers served by the company increased 0.6% to 3 million.
Financial Highlights
As of Dec 31, 2022, Entergy had cash and cash equivalents of $224.2 million compared with $442.6 million as of Dec 31, 2021.
Long-term debt was $23.62 billion as of Dec 31, 2022 compared with $24.84 billion as of Dec 31, 2021.
During 2022, ETR generated cash from operating activities of $776 million compared with $289.7 million in 2021.
Guidance for 2022
For 2023, Entergy expects its adjusted earnings guidance in the range of $6.55-$6.85. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.69 per share, which is lower than $6.70, the midpoint of the guided range.
CMS Energy Corporation (CMS - Free Report) reported a fourth-quarter 2022 adjusted EPS of 60 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure improved 27.7% on a year-over-year basis.
For the quarter under review, CMS Energy’s operating revenues were $2,278 million, which surpassed the Zacks Consensus Estimate of $2,185.3 million by 4.2%. The top line improved 12.1% on a year-over-year basis.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%. The bottom line was also up 24.4% from the prior-year quarter.
For the fourth quarter, NextEra’s operating revenues were $6,164 million, which surpassed the Zacks Consensus Estimate of $5,743 million by 7.3%. The top line improved 22.2% year over year.
Duke Energy Corporation (DUK - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.11 per share, which surpassed the Zacks Consensus Estimate of $1.06 by 4.7%. The bottom line also improved 26.1% year over year.
Total operating revenues came in at $7,351 million, which improved 20.2% from $6,117 million in the year-ago period. The reported top line also surpassed the Zacks Consensus Estimate of $6,608 million by 11.2%.
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Entergy's (ETR) Q4 Earnings Beat Estimates, Revenues Rise Y/Y
Entergy Corporation (ETR - Free Report) reported fourth-quarter 2022 earnings of 51 cents per share, which surpassed the Zacks Consensus Estimate of 45 cents by 13.3%. The reported figure, however, declined 60.1% from $1.28 per share in the year-ago quarter.
For full-year 2022, ETR reported adjusted earnings of $6.42 per share compared with $6.02 in the year-ago quarter. The full-year earnings also surpassed the Zacks Consensus Estimate of $6.38 per share.
Total Revenues
Entergy’s fourth-quarter revenues of $3,272.5 million surpassed the Zacks Consensus Estimate of $3,517.9 million by 7%. Further, revenues increased 20.2% from $2,722.5 million in the year-ago quarter due to higher Electric and Natural gas revenues.
For full-year 2022, total revenues came in at $13.76 billion, higher than $11.74 billion recorded in 2021. The full-year revenues also surpassed the Zacks Consensus Estimate of $13.09 billion.
Entergy Corporation Price, Consensus and EPS Surprise
Entergy Corporation price-consensus-eps-surprise-chart | Entergy Corporation Quote
Segmental Results
Utility: The segment’s quarterly earnings came in at $1.15 per share compared with $1.17 in the prior-year quarter.
Parent & Other: The segment incurred a loss of 58 cents per share compared with a loss of 33 cents in the prior-year quarter.
Highlights of the Release
Operating expenses in the fourth quarter were $2.82 billion, up 18.6% from $2.39 billion in the year-ago quarter.
The operating income during the quarter totaled $448.9 million, up 31.4% from $3416 million in the year-ago quarter.
Total interest expenses were $245.5 million, up 11.2% from $220.9 million in the year-ago quarter.
As of Dec 31, 2022, total retail customers served by the company increased 0.6% to 3 million.
Financial Highlights
As of Dec 31, 2022, Entergy had cash and cash equivalents of $224.2 million compared with $442.6 million as of Dec 31, 2021.
Long-term debt was $23.62 billion as of Dec 31, 2022 compared with $24.84 billion as of Dec 31, 2021.
During 2022, ETR generated cash from operating activities of $776 million compared with $289.7 million in 2021.
Guidance for 2022
For 2023, Entergy expects its adjusted earnings guidance in the range of $6.55-$6.85. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.69 per share, which is lower than $6.70, the midpoint of the guided range.
Zacks Rank
Entergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
CMS Energy Corporation (CMS - Free Report) reported a fourth-quarter 2022 adjusted EPS of 60 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure improved 27.7% on a year-over-year basis.
For the quarter under review, CMS Energy’s operating revenues were $2,278 million, which surpassed the Zacks Consensus Estimate of $2,185.3 million by 4.2%. The top line improved 12.1% on a year-over-year basis.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%. The bottom line was also up 24.4% from the prior-year quarter.
For the fourth quarter, NextEra’s operating revenues were $6,164 million, which surpassed the Zacks Consensus Estimate of $5,743 million by 7.3%. The top line improved 22.2% year over year.
Duke Energy Corporation (DUK - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.11 per share, which surpassed the Zacks Consensus Estimate of $1.06 by 4.7%. The bottom line also improved 26.1% year over year.
Total operating revenues came in at $7,351 million, which improved 20.2% from $6,117 million in the year-ago period. The reported top line also surpassed the Zacks Consensus Estimate of $6,608 million by 11.2%.