Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 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 | | --- | --- | --- | --- | | | ...

Core Insights - Generative AI is viewed as a transformative technology by Amazon's CEO Andy Jassy, indicating its potential to significantly enhance customer experiences across the company [1] - Elon Musk predicts that by 2040, humanoid robots could create a market worth $250 trillion, representing a major shift in the global economy driven by AI innovation [2][3] - Major firms like PwC and McKinsey acknowledge the potential of AI to unlock multi-trillion-dollar opportunities, reinforcing the optimistic outlook on AI's economic impact [3] Company and Industry Analysis - A breakthrough in AI technology is believed to be redefining work, learning, and creativity, leading to increased interest from hedge funds and top investors [4] - There is speculation about an under-owned company that may play a crucial role in the AI revolution, suggesting that it could be a significant investment opportunity [4][6] - Prominent figures in technology and finance, including Bill Gates and Warren Buffett, recognize AI as a major technological advancement with the potential for substantial social benefits [8]

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for momentum i ...

The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Consolidated Edison (ED) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.Consolidated Edison is one of 107 individual stocks in the Utilities sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 di ...

Dr. Joseph E. Jones is a professor at The University of Southern Mississippi. He writes about portfolio construction from a dividend growth investment perspective. Any claims or options expressed in his research are solely his own. They do not represent the views or financial interests of his employer.Analyst’s Disclosure: I/we have a beneficial long position in the shares of ETR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I a ...

This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Entergy on Thursday gave an update on the financial performance and outlook for the five regulated electric utilities it operates in the New Orleans area, greater Louisiana, Mississippi, Arkansas and east Texas. Its greater Louisiana subsidiary is its largest by customer count, followed by Arkansas, Texas and Mississippi. By the numbers: Entergy Q4 and full-year 20 ...

Management characterized 2025 as an 'affirmational' year, validating a long-term strategy centered on meeting unprecedented power demand from large-scale industrial and data center customers. Industrial sales grew by 7% in 2025, contributing to a 4% overall retail sales increase, which management attributes to the competitive advantages of their service area, including low rates and vertical integration. The company secured approximately 3.5 gigawatts in new electric service agreements (ESAs) during 2 ...

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $3.91 for 2025, which is in the top half of the guidance range, with expectations of over 8% adjusted EPS annual growth through 2029 [4][25] - Retail sales increased approximately 4% in 2025, with industrial sales contributing a 7% increase [25][26] - The company anticipates an 8% compound annual growth rate in retail sales through 2029, driven by a 15% growth in industrial sales [5][26] Business Line Data and Key Metrics Changes - The company achieved 4% sales growth in 2025, primarily driven by industrial sales [5] - Significant electric service agreements totaling approximately 3.5 gigawatts were signed in 2025, indicating strong demand from industrial sectors [5][6] - The company has a pipeline of 7-12 gigawatts for data centers and 3-5 gigawatts for other industries, with a clear line of sight on equipment to serve 8 gigawatts of incremental load [8][12] Market Data and Key Metrics Changes - Entergy's utility remains in the first quartile for Net Promoter Score for both residential and business customers, with Entergy Texas ranked number one in customer satisfaction for business electric service in the South [5] - The company noted record employment milestones across all states in 2025, reflecting positive economic development activity [9] Company Strategy and Development Direction - The company is focused on a customer-first strategy that aims to create value for all stakeholders, with ongoing efforts to improve customer experience and maintain low rates [4][5] - A $43 billion capital plan through 2029 is in place to support customer needs, with $11.6 billion planned for 2026 [12][26] - The company is exploring new rate offerings such as demand response and time of use rates to complement existing billing options [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook, citing strong demand from data centers and traditional industrial segments [5][9] - The company is proactive in managing costs and engaging with regulators to ensure bill levels remain manageable for customers [11][18] - Management highlighted the importance of balancing near-term affordability with the need to strengthen the system for future resilience [15][18] Other Important Information - The company plans to host an Investor Day on June 9 in New York City to discuss significant opportunities and provide a five-year outlook [24] - The preliminary estimate for restoration costs from Winter Storm Fern is up to $300 million for Louisiana, with expectations for recovery through normal mechanisms [31] Q&A Session Summary Question: On the large load ramp, was phase one of Hut 8 already partially in plan? - Management indicated that Hut 8 and similarly sized data centers are included in the probability-weighted industrial growth, but the first part of the announcement does not add to the capital plan [37][39] Question: What protections are in place for large load customers? - Management confirmed that significant credit requirements, including termination fees and minimum bills, are in place to protect against customer walkaways [42][43] Question: What is the expected impact of the Cottonwood addition to the capital plan? - Management stated that Cottonwood is included in the capital plan and pending regulatory approval, but it does not change the EPS outlook significantly [61] Question: What updates can be expected at the Investor Day in June? - Management will provide more color around data centers and their positioning, along with a longer outlook and potential announcements [67] Question: Is there continued support for data center activity from a regulatory standpoint? - Management confirmed strong support for data centers in their jurisdictions, with no significant changes in customer preferences among states [70]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $3.91 for 2025, which is in the top half of the guidance range, with expectations of over 8% adjusted EPS annual growth through 2029 [4][25] - Retail sales increased approximately 4% in 2025, with industrial sales contributing a 7% increase [25][26] - The company anticipates an 8% compound annual growth rate in retail sales through 2029, driven by a 15% growth in industrial sales [5][26] Business Line Data and Key Metrics Changes - The company achieved 4% sales growth in 2025, primarily driven by industrial sales [5] - Significant electric service agreements totaling approximately 3.5 gigawatts were signed in 2025, indicating strong demand from industrial sectors [5][6] - The company has a pipeline of 7-12 gigawatts for data centers and 3-5 gigawatts for other industries, with a clear line of sight on equipment to serve 8 gigawatts of incremental load [8][12] Market Data and Key Metrics Changes - Entergy's utility remains in the first quartile for Net Promoter Score for both residential and business customers, with Entergy Texas ranked number one in customer satisfaction for business electric service in the South [5] - The company noted record employment milestones across all states in 2025, reflecting positive economic development activity [8] Company Strategy and Development Direction - The company is focused on a customer-first strategy that aims to create value for all stakeholders, with a $43 billion capital plan through 2029 to support customer needs [12][25] - Entergy is actively engaging with potential new customers to secure additional growth, particularly in data centers and traditional industrial segments [8][10] - The company is exploring new rate offerings such as demand response and time of use rates to complement existing billing options [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook, citing strong demand from data centers and traditional industries [4][5] - The company is committed to maintaining low rates while improving customer experience and reliability through infrastructure investments [5][10] - Management acknowledged the impact of Winter Storm Fern on operations, estimating restoration costs of up to $300 million for Louisiana and $200 million for Mississippi [31] Other Important Information - The company plans to host an Investor Day on June 9 in New York City to discuss significant opportunities and provide a five-year outlook [24] - Entergy's credit metrics remain strong, with expectations of cash flow from operations free working capital to debt greater than 17% for 2025 [29][30] Q&A Session Summary Question: On the large load ramp, was phase one of Hut 8 already partially in plan? - Management indicated that Hut 8 and similarly sized data centers are included in the probability-weighted industrial growth, and additional growth may require incremental capital [37][39] Question: What protections are in place for large load customers? - Management confirmed that significant credit requirements, including termination fees and minimum bills, are in place to protect against customer walkaways [42][43] Question: What is the expected impact of the Cottonwood addition to the capital plan? - The Cottonwood project is included in the capital plan and is pending regulatory approval, but it does not change the EPS outlook significantly [61] Question: What updates can be expected at the Investor Day in June? - Management plans to provide more clarity on data center contracts and a longer-term outlook, along with insights from various leaders within the company [67] Question: How is the political and regulatory environment affecting data center activity? - Management reported continued strong support for data centers in their jurisdictions, with no significant shifts in customer preferences among states [70]