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.
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%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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.
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%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Get the latest research report on NEE - FREE
Get the latest research report on ETR - FREE
Get the latest research report on DUK - FREE
Get the latest research report on CMS - FREE