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Entergy Corporation (ETR - Free Report) reported third-quarter 2022 adjusted earnings of $2.84 per share, which surpassed the Zacks Consensus Estimate of $2.67 by 6.4%. The reported figure also increased 15.9% from $2.45 per share in the year-ago quarter.
Entergy reported GAAP earnings of $2.74 per share compared with $2.63 per share a year ago.
Total Revenues
Entergy’s third-quarter revenues of $4,218.6 million exceeded the Zacks Consensus Estimate of $3,349.9 million by 25.9%. Further, revenues increased 25.8% from $3,353.5 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 quarterly earnings came in at $3.29 per share compared with $2.82 in the prior-year quarter.
Parent & Other: The segment incurred a loss of 45 cents per share compared with a loss of 32 cents in the prior-year quarter.
Highlights of the Release
Operating expenses in the third quarter were $3.26 billion, up 29.2% from $2.53 billion in the year-ago quarter.
The operating income during the quarter totaled $954.7 million, up 15.4% from $827.9 million in the year-ago quarter.
Total interest expenses were $235.3 million, up 8.6% from $216.6 million in the year-ago quarter.
As of Sep 30, 2022, total retail customers served by the company increased 0.5% to 3 million.
Financial Highlights
As of Sep 30, 2022, Entergy had cash and cash equivalents of $1,003.5 million compared with $442.6 million as of Dec 31, 2021.
Long-term debt was $24.64 billion as of Sep 30, 2022 compared with $24.84 billion as of Dec 31, 2021.
In the third quarter of 2022, ETR generated cash from operating activities of $993.5 million compared with cash inflow from operating activities of $1,264.4 million in the third quarter of 2021.
Guidance for 2022
For 2022, Entergy narrowed its adjusted earnings guidance to the range of $6.25-$6.45 compared with the prior range of $6.15-$6.45. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.40 per share, which is higher than $6.35, the midpoint of the guided range.
American Electric Power Company, Inc. (AEP - Free Report) reported third-quarter 2022 operating EPS of $1.62, which beat the Zacks Consensus Estimate of $1.57 by 3.2%. The bottom line also improved 13.3% from $1.43 per share in the year-ago quarter.
American Electric’s third-quarter revenues of $5,486.9 million beat the Zacks Consensus Estimate of $4,985.2 million by 10.1%. The reported figure also improved 21.3% from the year-ago quarter’s $4,522.6 million.
FirstEnergy Corporation (FE - Free Report) delivered third-quarter 2022 operating EPS of 79 cents, beating the Zacks Consensus Estimate of 77 cents by 2.6%. In the trailing twelve-month period, FirstEnergy’s electricity sales improved 1.3% from the prior-year period.
FirstEnergy generated operating revenues of $3,533 million in the third quarter, which surpassed the Zacks Consensus Estimate of $3,190 million by 10.8%.
DTE Energy Company (DTE - Free Report) reported third-quarter 2022 operating EPS of $1.60, which surpassed the Zacks Consensus Estimate of $1.58 by 1.3%. However, the bottom line decreased 7% from the year-ago quarter’s $1.72 per share.
The operating net income of DTE in the reported quarter totaled $311 million compared with $334 million in the year-ago quarter.
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Entergy (ETR) Q3 Earnings Beat Estimates, Revenues Rise Y/Y
Entergy Corporation (ETR - Free Report) reported third-quarter 2022 adjusted earnings of $2.84 per share, which surpassed the Zacks Consensus Estimate of $2.67 by 6.4%. The reported figure also increased 15.9% from $2.45 per share in the year-ago quarter.
Entergy reported GAAP earnings of $2.74 per share compared with $2.63 per share a year ago.
Total Revenues
Entergy’s third-quarter revenues of $4,218.6 million exceeded the Zacks Consensus Estimate of $3,349.9 million by 25.9%. Further, revenues increased 25.8% from $3,353.5 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 quarterly earnings came in at $3.29 per share compared with $2.82 in the prior-year quarter.
Parent & Other: The segment incurred a loss of 45 cents per share compared with a loss of 32 cents in the prior-year quarter.
Highlights of the Release
Operating expenses in the third quarter were $3.26 billion, up 29.2% from $2.53 billion in the year-ago quarter.
The operating income during the quarter totaled $954.7 million, up 15.4% from $827.9 million in the year-ago quarter.
Total interest expenses were $235.3 million, up 8.6% from $216.6 million in the year-ago quarter.
As of Sep 30, 2022, total retail customers served by the company increased 0.5% to 3 million.
Financial Highlights
As of Sep 30, 2022, Entergy had cash and cash equivalents of $1,003.5 million compared with $442.6 million as of Dec 31, 2021.
Long-term debt was $24.64 billion as of Sep 30, 2022 compared with $24.84 billion as of Dec 31, 2021.
In the third quarter of 2022, ETR generated cash from operating activities of $993.5 million compared with cash inflow from operating activities of $1,264.4 million in the third quarter of 2021.
Guidance for 2022
For 2022, Entergy narrowed its adjusted earnings guidance to the range of $6.25-$6.45 compared with the prior range of $6.15-$6.45. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.40 per share, which is higher than $6.35, 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
American Electric Power Company, Inc. (AEP - Free Report) reported third-quarter 2022 operating EPS of $1.62, which beat the Zacks Consensus Estimate of $1.57 by 3.2%. The bottom line also improved 13.3% from $1.43 per share in the year-ago quarter.
American Electric’s third-quarter revenues of $5,486.9 million beat the Zacks Consensus Estimate of $4,985.2 million by 10.1%. The reported figure also improved 21.3% from the year-ago quarter’s $4,522.6 million.
FirstEnergy Corporation (FE - Free Report) delivered third-quarter 2022 operating EPS of 79 cents, beating the Zacks Consensus Estimate of 77 cents by 2.6%. In the trailing twelve-month period, FirstEnergy’s electricity sales improved 1.3% from the prior-year period.
FirstEnergy generated operating revenues of $3,533 million in the third quarter, which surpassed the Zacks Consensus Estimate of $3,190 million by 10.8%.
DTE Energy Company (DTE - Free Report) reported third-quarter 2022 operating EPS of $1.60, which surpassed the Zacks Consensus Estimate of $1.58 by 1.3%. However, the bottom line decreased 7% from the year-ago quarter’s $1.72 per share.
The operating net income of DTE in the reported quarter totaled $311 million compared with $334 million in the year-ago quarter.