We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Entergy's (ETR) Q1 Earnings Lag Estimates, Revenues Drop Y/Y
Read MoreHide Full Article
Entergy Corporation (ETR - Free Report) reported first-quarter 2024 adjusted earnings of $1.08 per share, which missed the Zacks Consensus Estimate of $1.44 per share by 25%. The bottom line also came in lower than the company’s prior-year quarter’s reported earnings of $1.14 per share by 5.3%.
The company reported GAAP earnings per share of 35 cents, down significantly from the year-ago quarter’s level of $1.47 per share.
Q1 Revenues
Entergy reported revenues of $2.79 billion, which missed the Zacks Consensus Estimate of $3.18 billion by 12%. The figure also declined 6.3% from the $2.98 billion reported in the year-ago quarter due to lower revenues from all of its segments.
Entergy Corporation Price, Consensus and EPS Surprise
Utility: The segment’s quarterly earnings were 91 cents per share compared with $1.87 in the prior-year quarter.
Parent & Other: The segment reported a loss of 56 cents per share compared with the year-ago quarter’s loss of 41 cents.
Highlights of the Release
Operating expenses totaled $2.56 billion, up 1.5% from $2.51 billion recorded in the prior-year quarter.
The operating income amounted to $238 million, down 48.5% from $462.1 million registered in the year-ago period.
Total interest expenses were $267.2 million, up 8.7% from $245.7 million reported in the comparable period of 2022.
As of Mar 31, 2024, the total retail customers served by the company increased 0.7% to 3.01 million.
Financial Highlights
As of Mar 31, 2024, Entergy had cash and cash equivalents of $1.29 billion compared with $132.5 million as of Dec 31, 2023.
Long-term debt totaled $24.31 billion as of Mar 31, 2024 compared with $23.01 billion as of Dec 31, 2023.
As of Mar 31, 2024, ETR generated cash from operating activities of $521.1 million compared with $959.5 million in the year-ago period.
Guidance
Entergy’s financial guidance for 2024 remains unchanged. The company still expects to generate adjusted earnings in the range of $7.05-$7.35 per share. The Zacks Consensus Estimate for ETR’s 2024 earnings is currently pegged at $7.22 per share, which is above the midpoint of the company’s guided range.
Alliant Energy Corporation (LNT - Free Report) is slated to report first-quarter 2024 results on May 2 before market open. The Zacks Consensus Estimate for LNT’s first-quarter earnings is pegged at 66 cents per share, which suggests growth of 1.5% from the prior year quarter’s reported figure.
The Zacks Consensus Estimate for LNT’s first-quarter sales is pegged at $1.17 billion, which indicates an improvement of 8.3% from the prior year quarter’s reported figure.
FirstEnergy (FE - Free Report) is slated to report first-quarter 2024 results on Apr 25 after market close. The Zacks Consensus Estimate for FE’s first-quarter earnings is pegged at 54 cents per share, which calls for a decline of 10% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for FE’s first-quarter sales is pegged at $3.36 billion, which indicates an improvement of 3.9% from the prior-year quarter’s reported figure.
PPL Corporation (PPL - Free Report) is slated to report first-quarter 2024 results on May 1 before market open. The Zacks Consensus Estimate for PPL’s first-quarter earnings is pegged at 53 cents per share, which suggests growth of 10.4% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for PPL’s first-quarter sales is pegged at $2.48 billion, which implies an improvement of 2.6% from the prior-year quarter’s reported figure.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Entergy's (ETR) Q1 Earnings Lag Estimates, Revenues Drop Y/Y
Entergy Corporation (ETR - Free Report) reported first-quarter 2024 adjusted earnings of $1.08 per share, which missed the Zacks Consensus Estimate of $1.44 per share by 25%. The bottom line also came in lower than the company’s prior-year quarter’s reported earnings of $1.14 per share by 5.3%.
The company reported GAAP earnings per share of 35 cents, down significantly from the year-ago quarter’s level of $1.47 per share.
Q1 Revenues
Entergy reported revenues of $2.79 billion, which missed the Zacks Consensus Estimate of $3.18 billion by 12%. The figure also declined 6.3% from the $2.98 billion reported in the year-ago quarter due to lower revenues from all of its segments.
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 were 91 cents per share compared with $1.87 in the prior-year quarter.
Parent & Other: The segment reported a loss of 56 cents per share compared with the year-ago quarter’s loss of 41 cents.
Highlights of the Release
Operating expenses totaled $2.56 billion, up 1.5% from $2.51 billion recorded in the prior-year quarter.
The operating income amounted to $238 million, down 48.5% from $462.1 million registered in the year-ago period.
Total interest expenses were $267.2 million, up 8.7% from $245.7 million reported in the comparable period of 2022.
As of Mar 31, 2024, the total retail customers served by the company increased 0.7% to 3.01 million.
Financial Highlights
As of Mar 31, 2024, Entergy had cash and cash equivalents of $1.29 billion compared with $132.5 million as of Dec 31, 2023.
Long-term debt totaled $24.31 billion as of Mar 31, 2024 compared with $23.01 billion as of Dec 31, 2023.
As of Mar 31, 2024, ETR generated cash from operating activities of $521.1 million compared with $959.5 million in the year-ago period.
Guidance
Entergy’s financial guidance for 2024 remains unchanged. The company still expects to generate adjusted earnings in the range of $7.05-$7.35 per share. The Zacks Consensus Estimate for ETR’s 2024 earnings is currently pegged at $7.22 per share, which is above the midpoint of the company’s 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.
Upcoming Utility Releases
Alliant Energy Corporation (LNT - Free Report) is slated to report first-quarter 2024 results on May 2 before market open. The Zacks Consensus Estimate for LNT’s first-quarter earnings is pegged at 66 cents per share, which suggests growth of 1.5% from the prior year quarter’s reported figure.
The Zacks Consensus Estimate for LNT’s first-quarter sales is pegged at $1.17 billion, which indicates an improvement of 8.3% from the prior year quarter’s reported figure.
FirstEnergy (FE - Free Report) is slated to report first-quarter 2024 results on Apr 25 after market close. The Zacks Consensus Estimate for FE’s first-quarter earnings is pegged at 54 cents per share, which calls for a decline of 10% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for FE’s first-quarter sales is pegged at $3.36 billion, which indicates an improvement of 3.9% from the prior-year quarter’s reported figure.
PPL Corporation (PPL - Free Report) is slated to report first-quarter 2024 results on May 1 before market open. The Zacks Consensus Estimate for PPL’s first-quarter earnings is pegged at 53 cents per share, which suggests growth of 10.4% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for PPL’s first-quarter sales is pegged at $2.48 billion, which implies an improvement of 2.6% from the prior-year quarter’s reported figure.