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Entergy Corporation (ETR - Free Report) reported second-quarter 2022 adjusted earnings of $1.78 per share, which surpassed the Zacks Consensus Estimate of $1.42 by 25.4%. The reported figure also increased 32.8% from $1.34 per share in the year-ago quarter.
Entergy reported GAAP earnings of 78 cents per share against the GAAP loss of 3 cents per share a year ago.
Total Revenues
Entergy’s second-quarter revenues of $3,395.2 million exceeded the Zacks Consensus Estimate of $2,878.6 million by 17.9%. Further, revenues increased 20.3% from $2,822.1 million in the year-ago quarter due to higher Electric and Natural gas revenues.
Entergy Corporation Price, Consensus and EPS Surprise
Utility: The segment’s adjusted quarterly earnings came in at $2.17 per share compared with $1.62 in the prior-year quarter.
Parent & Other: The segment incurred a loss of 39 cents per share compared with a loss of 28 cents in the prior-year quarter.
Highlights of the Release
Operating expenses in the second quarter were $3.31 billion, up 24.9% from $2.65 billion in the year-ago quarter.
The operating income during the quarter totaled $81.1 million, down 51.8% from $168.2 million in the year-ago quarter.
Total interest expenses were $226.9 million, up 6.3% from $213.4 million in the year-ago quarter.
As of Jun 30, 2022, total retail customers served by the company increased 0.5% to 2.98 million.
Financial Highlights
As of Jun 30, 2022, Entergy had cash and cash equivalents of $579.9 million compared with $442.6 million as of Dec 31, 2021.
Long-term debt was $24.54 billion as of Jun 30, 2022 compared with $24.84 billion as of Dec 31, 2021.
In the second quarter of 2022, ETR generated cash from operating activities of $278 million compared with the cash inflow from operating activities of $796.1 million in the second quarter of 2021.
Guidance for 2022
For 2022, Entergy still expects to generate adjusted earnings in the range of $6.15-$6.45. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.36 per share, which is higher than $6.30, the midpoint of the guided range.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%. The bottom line was also up 14.1% from the prior-year quarter.
For the second quarter, NextEra’s operating revenues were $5,183 million, which lagged the Zacks Consensus Estimate of $5,681 million by 8.8%. However, NEE’s top line improved 31.9% year over year.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating earnings per share (EPS) of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%. The bottom line also improved 1.7% from $1.18 per share in the year-ago quarter.
American Electric’s second-quarter revenues of $4,593.8 million beat the Zacks Consensus Estimate of $4,191.2 million by 9.6%. AEP expects 2022 operating earnings in the range of $4.87-$5.07 per share.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2022 adjusted EPS of 53 cents, which beat the Zacks Consensus Estimate of 44 cents by 20.5%. However, the reported figure declined 3.6% on a year-over-year basis.
CMS Energy had cash and cash equivalents of $77 million as of Jun 30, 2022, down from $452 million at the end of 2021. CMS expects its 2022 adjusted earnings guidance in the range of $2.85-$2.89 per share.
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Entergy (ETR) Q2 Earnings Beat Estimates, Revenues Rise Y/Y
Entergy Corporation (ETR - Free Report) reported second-quarter 2022 adjusted earnings of $1.78 per share, which surpassed the Zacks Consensus Estimate of $1.42 by 25.4%. The reported figure also increased 32.8% from $1.34 per share in the year-ago quarter.
Entergy reported GAAP earnings of 78 cents per share against the GAAP loss of 3 cents per share a year ago.
Total Revenues
Entergy’s second-quarter revenues of $3,395.2 million exceeded the Zacks Consensus Estimate of $2,878.6 million by 17.9%. Further, revenues increased 20.3% from $2,822.1 million in the year-ago quarter due to higher Electric and Natural gas revenues.
Entergy Corporation Price, Consensus and EPS Surprise
Entergy Corporation price-consensus-eps-surprise-chart | Entergy Corporation Quote
Segment Results
Utility: The segment’s adjusted quarterly earnings came in at $2.17 per share compared with $1.62 in the prior-year quarter.
Parent & Other: The segment incurred a loss of 39 cents per share compared with a loss of 28 cents in the prior-year quarter.
Highlights of the Release
Operating expenses in the second quarter were $3.31 billion, up 24.9% from $2.65 billion in the year-ago quarter.
The operating income during the quarter totaled $81.1 million, down 51.8% from $168.2 million in the year-ago quarter.
Total interest expenses were $226.9 million, up 6.3% from $213.4 million in the year-ago quarter.
As of Jun 30, 2022, total retail customers served by the company increased 0.5% to 2.98 million.
Financial Highlights
As of Jun 30, 2022, Entergy had cash and cash equivalents of $579.9 million compared with $442.6 million as of Dec 31, 2021.
Long-term debt was $24.54 billion as of Jun 30, 2022 compared with $24.84 billion as of Dec 31, 2021.
In the second quarter of 2022, ETR generated cash from operating activities of $278 million compared with the cash inflow from operating activities of $796.1 million in the second quarter of 2021.
Guidance for 2022
For 2022, Entergy still expects to generate adjusted earnings in the range of $6.15-$6.45. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.36 per share, which is higher than $6.30, 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.
Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%. The bottom line was also up 14.1% from the prior-year quarter.
For the second quarter, NextEra’s operating revenues were $5,183 million, which lagged the Zacks Consensus Estimate of $5,681 million by 8.8%. However, NEE’s top line improved 31.9% year over year.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating earnings per share (EPS) of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%. The bottom line also improved 1.7% from $1.18 per share in the year-ago quarter.
American Electric’s second-quarter revenues of $4,593.8 million beat the Zacks Consensus Estimate of $4,191.2 million by 9.6%. AEP expects 2022 operating earnings in the range of $4.87-$5.07 per share.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2022 adjusted EPS of 53 cents, which beat the Zacks Consensus Estimate of 44 cents by 20.5%. However, the reported figure declined 3.6% on a year-over-year basis.
CMS Energy had cash and cash equivalents of $77 million as of Jun 30, 2022, down from $452 million at the end of 2021. CMS expects its 2022 adjusted earnings guidance in the range of $2.85-$2.89 per share.