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Entergy (ETR) Q1 Earnings Beat Estimates, Revenues Rise Y/Y

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Entergy Corporation (ETR - Free Report) reported first-quarter 2021 adjusted earnings of $1.47 per share, which surpassed the Zacks Consensus Estimate of $1.19 by 23.5%. Moreover, the reported figure also surged 28.9% from $1.14 in the year-ago quarter.

Excluding the Entergy Wholesale Commodities (EWC) results, the company reported earnings of $1.66 per share compared with earnings of 59 cents a year ago.

Total Revenues

Entergy’s first-quarter revenues of $2,844.8 million exceeded the Zacks Consensus Estimate of $2,461 million by 15.6%. Further, revenues improved 17.2% from $2,427.2 million in the year-ago quarter, primarily due to higher Electric and Natural gas revenues.

Entergy Corporation Price, Consensus and EPS Surprise

Entergy Corporation Price, Consensus and EPS Surprise

Entergy Corporation price-consensus-eps-surprise-chart | Entergy Corporation Quote

Segment Results

Utility: The segment’s quarterly earnings came in at $1.77 per share compared with $1.59 in the prior-year quarter.

Parent & Other: The segment incurred an adjusted loss of 30 cents per share compared with a loss of 45 cents in the prior-year quarter.

Highlights of the Release

Operating expenses in the quarter were $2.34 billion, up 15.3% from $2.03 billion in the year-ago quarter.

Operating income during the quarter totaled $508 million compared with $400 million in the year-ago quarter.

Interest expenses were $205.9 million, up 0.1% from $205.6 million in the year-ago quarter.

In the reported quarter, total retail customers served by the company increased 1.1% to 2.95 million.

Financial Highlights

As of Mar 31, 2021, the company had cash and cash equivalents of $1,742.7 million compared with $1,759.1 million as of Dec 31, 2020.

Long-term debt was $24.1 billion at the end of first quarter 2021 compared with $21.2 billion as of Dec 31, 2020.

At the end of first-quarter 2021, the company used cash in operating activities worth $49.6 million against cash generated from operating activities of $659.1 million in the prior year quarter.

Guidance 2021

For 2021, Entergy still expects operational earnings of $5.80-$6.10 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.96 per share, just above 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

DTE Energy Company (DTE - Free Report) reported first-quarter 2021 operating earnings per share (EPS) of $2.44, which surpassed the Zacks Consensus Estimate of $2.16 by 13%.

American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2021 adjusted earnings per share of $1.15, which missed the Zacks Consensus Estimate of $1.23 by 6.5%.

NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.

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