Investment Rating - The report does not explicitly state an investment rating for the nuclear energy industry, but it indicates a positive outlook based on various factors driving growth and valuation adjustments. Core Insights - The report highlights a significant increase in electricity demand driven by AI, projecting an incremental power demand of 789 TWh in the U.S. by 2035, with a compound annual growth rate (CAGR) of 14.17% [20][23] - A reversal in uranium supply and demand dynamics is anticipated, with prices expected to rise [55] - The acceleration of domestic uranium production as part of the "de-Russification" strategy is noted, which is expected to enhance local supply capabilities [72] - The revaluation of nuclear power assets is expected to provide operators with increased profitability and valuation flexibility [108] - The commercialization of Small Modular Reactors (SMRs) is accelerating, driven by technological breakthroughs and supportive policies [8] Summary by Sections Section 1: Electricity Demand and AI Impact - The report discusses the surge in electricity demand due to AI, predicting a sustained increase in power gaps post-2027 [10] - It estimates that AI will require significant energy resources, with projections indicating a need for 177 GW of power for AI data centers by 2035 [23] Section 2: Uranium Market Dynamics - The report forecasts a potential supply gap for natural uranium by 2030, with demand expected to outpace supply [63] - It highlights the concentration of uranium enrichment capacity among a few key players, with a projected capacity of 62,900 thousand SWU/year by 2030 [91] - The impact of U.S. legislation banning Russian uranium imports is discussed, which could create a supply gap of approximately 30% in the U.S. market [99] Section 3: Nuclear Power Asset Revaluation - The report emphasizes the revaluation of nuclear power assets, suggesting that operators are likely to benefit from improved profitability and valuation flexibility [108] - It notes the expected growth in SMR capacity from 1 GWe in 2030 to 122.25 GWe by 2050, with a CAGR of 27.16% [57] Section 4: Market Trends and Pricing Signals - The report indicates that forward wholesale electricity prices in the PJM region are expected to rise due to supply-demand tightness [51] - It also mentions the expected increase in uranium prices driven by policy changes and strong fundamentals [68]

Core Insights - Entergy Corporation's shares have increased by 59.94% since May 2024 and are up 63.22% year-over-year [1] Financial Performance - The company recently reported strong Q2 2025 earnings with total revenues [1]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ | | Registrant, State of Incorporation or | | Registrant, State of Incorporation or | | --- | --- | --- | --- | ...

Entergy (ETR) Q2 2025 Earnings Call July 30, 2025 11:00 AM ET Company ParticipantsLiz Hunter - VP - Investor RelationsDrew Marsh - Chair of the Board & CEOKimberly Fontan - Executive VP & CFONicholas Campanella - DirectorBill Appicelli - Executive Director & Head - North America Power & Utilities ResearchDavid Arcaro - Executive Director - Equity ResearchRoss Fowler - Head - North America Power & Utilities Equity ResearchAnthony Crowdell - Managing DirectorConference Call ParticipantsJeremy Tonet - MD & Res ...

Financial Data and Key Metrics Changes - The company reported second quarter adjusted earnings per share (EPS) of 1.05, which aligns with the guidance for 2025 [5][28] - Adjusted EPS for the quarter was positively impacted by net investments for customers, higher retail sales volume, and increased other income, despite higher operational and maintenance costs [29][30] - Weather-adjusted retail sales growth for the quarter was strong at 4.5%, with industrial sales contributing close to 12% growth [29][30] Business Line Data and Key Metrics Changes - The company has updated its four-year capital plan to $40 billion, which includes significant investments in customer-driven generation, including approximately 3 gigawatts of solar and 1.4 gigawatts of battery storage [8][9] - The industrial sales growth rate is expected to be approximately 13% over the next four years, driven by new growth in Arkansas [8][10] Market Data and Key Metrics Changes - The company has secured significant new growth opportunities in Arkansas, which will benefit existing customers and communities [8][10] - The customer pipeline remains robust, particularly in the data center segment, which is expected to contribute significantly to future growth [10] Company Strategy and Development Direction - The company aims to be the premier utility provider and create sustainable value for stakeholders, focusing on customer service and economic development [5][6] - The strategy includes a focus on storm resilience and grid hardening, with a planned $8 billion investment in transmission over the next four years [14][15] - The company is also exploring new nuclear opportunities while managing construction risks through potential partnerships with larger entities [54][122] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 guidance and highlighted the importance of capital deployment to support growth [35][36] - The company is optimistic about the economic impact of its projects on communities and the potential for job creation [11][24] - Management noted improvements in storm recovery processes and regulatory support, which are expected to enhance financial stability and customer confidence [100][104] Other Important Information - The company completed the sale of its gas local distribution company to focus on its core electric business [17] - The company has been recognized as a top community-minded company, reflecting its commitment to social responsibility [24][25] - The board of directors has welcomed a new member with extensive investment experience, which is expected to enhance governance [25] Q&A Session Summary Question: Inquiry about the new Arkansas customer and sales growth - Management indicated that specific details about the customer cannot be disclosed at this time, but regulatory filings will provide more information soon [42] Question: Clarification on gas generation capacity - The seven gigawatts of gas generation capacity mentioned is related to projects not yet publicly announced, indicating potential for future customer growth [45] Question: Update on Meta's Hyperion data center expansion - Management confirmed that no regulatory approval process has started for the expansion, and further details would need to come from Meta [50] Question: Discussion on nuclear projects and risk management - Management is exploring various options to manage construction risks associated with new nuclear projects, including potential partnerships with larger entities [54][122] Question: Updates on storm recovery processes - Management highlighted new mechanisms in Louisiana for quicker storm cost recovery, which are expected to benefit customers and improve credit metrics [100][104] Question: Concerns regarding the ability to complete gas projects on time - Management expressed confidence in their relationships with EPCs and the use of standardized designs to facilitate timely project completion [106][109]

Financial Performance - Second quarter 2025 adjusted EPS was $105[7] - Second quarter 2025 OCF was $1262 million[8] - The company is affirming its 2025 adjusted EPS guidance and updating 2027E–2028E outlooks[9] - The company is raising 2027E–2028E adjusted EPS outlooks, projecting greater than 8% CAGR through 2028E[29] - The company's cumulative OCF outlook for 2025E-2028E is approximately $225 billion[118] Sales and Growth - The company experienced very strong second quarter 2025 retail sales growth, including approximately 12% industrial growth[9] - The company has a strong sales outlook, including significant new load in Arkansas and a strong pipeline of customer interest[9] - The company's four-year industrial sales CAGR is approximately 13%[10] Capital Investments and Equity - The company is updating its capital plan to serve growing customer needs[9] - The company is adding $3 billion to its four-year capital plan, bringing the total to $40 billion[23, 24] - The company settled approximately $800 million of equity forwards in May, contracting equity needs into 2027[9] Regulatory and Credit - Credit metric outlooks remain better than agency thresholds[16] - The company is continuing progress on resilience, including capital investment, regulatory/legislative enactments, and financial readiness[9]

Entergy (ETR) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +15.38%. A quarter ago, it was expected that this power company would post earnings of $0.62 per share when it actually produced earnings of $0.82, delivering a surprise of +32.26%.Over the last four quarters, the company h ...

NEWS RELEASE FOR IMMEDIATE RELEASE July 30, 2025 Entergy reports second quarter 2025 financial results Company affirms guidance, raises 2027–2028 outlooks NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported second quarter 2025 earnings per share of $1.05 on an as-reported and an adjusted (non-GAAP) basis. "It was another solid quarter as we work to deliver on our customer's expectations for service and growth," said Drew Marsh, Entergy Chair and Chief Executive Officer. "We remain well positioned to capt ...

Company affirms guidance, raises 2027–2028 outlooksNEW ORLEANS, July 30, 2025 /PRNewswire/ -- Entergy Corporation (NYSE: ETR) reported second quarter 2025 earnings per share of $1.05 on an as-reported and an adjusted (non-GAAP) basis."It was another solid quarter as we work to deliver on our customer's expectations for service and growth," said Drew Marsh, Entergy Chair and Chief Executive Officer. "We remain well positioned to capture significant opportunity ahead and drive value for our stakeholders."Busi ...

Market Overview - Wall Street has experienced a rally, with the S&P 500 and Nasdaq reaching multiple record highs due to positive trade negotiations and a strong earnings season [1] - Despite the rally, concerns about the economy persist, particularly regarding high inflation and the Federal Reserve's stance on interest rates [2][8] Federal Reserve Insights - The Federal Reserve is expected to maintain interest rates in the range of 4.25-4.5% during the upcoming FOMC meeting, with no cuts anticipated [5][8] - Retail sales increased by 0.6% in June, indicating resilient consumer spending despite inflationary pressures [5] - The Consumer Price Index (CPI) rose by 0.3% in June, influenced by higher consumer goods prices due to tariffs [6] Investment Recommendations - It is advisable to invest in low-beta defensive stocks from the utility and consumer staples sectors, which include Entergy Corporation, Fortis, Inc., Northwest Natural Holding Company, and Ingredion Incorporated [3][4] - These stocks are characterized by high dividend yields and favorable Zacks Ranks, making them appealing amid inflation and interest rate uncertainties [11] Company Profiles Entergy Corporation - Engaged in electric power production and retail distribution, with a generating capacity of 30,000 MW, including over 8,000 MW of nuclear capacity [9] - Expected earnings growth rate of 6.6% for the current year, with a Zacks Rank of 2 and a dividend yield of 2.72% [10] Fortis, Inc. - Operates in the electric and gas utility sector, primarily in Canada and the Caribbean [12] - Expected earnings growth rate of 4.2% for the current year, with a Zacks Rank of 2 and a dividend yield of 3.63% [12] Northwest Natural Holding Company - Focuses on natural gas distribution systems and pipeline projects, serving residential, commercial, and industrial customers [13] - Expected earnings growth rate of 23.6% for the current year, with a Zacks Rank of 2 and a dividend yield of 4.80% [14] Ingredion Incorporated - Provides ingredient solutions, specializing in nature-based sweeteners and starches for various industries [15] - Expected earnings growth rate of 6.8% for the current year, with a Zacks Rank of 2 and a dividend yield of 2.40% [16]