Project is expected to result in 500 or more direct new jobs, more than 1,000 indirect jobs and 5,000 construction workers at peak. Expansive technology campus will occupy 4 million square feet on 2,250 acres in Richland Parish. Entergy worked with Meta to address energy needs, and Meta will match its electricity use with 100% clean and renewable energy.RICHLAND PARISH, La., Dec. 4, 2024 /PRNewswire/ -- Today, Meta and Louisiana Economic Development (LED) announced a $10 billion artificial intelligence da ...

Group 1 - Entergy's Chair and CEO Drew Marsh will meet with investors at the Edison Electric Institute Financial Conference from November 10 to November 12, 2024 [1] - Meeting materials will be available on Entergy's Investor Relations website on November 8, 2024 [1] Group 2 - Entergy is a Fortune 500 company serving 3 million customers across Arkansas, Louisiana, Mississippi, and Texas [2] - The company focuses on enhancing the reliability and resilience of the energy system while transitioning to cleaner energy solutions [2] - Entergy has contributed over $100 million annually in economic benefits to local communities since 2018 through philanthropy, volunteerism, and advocacy [2] - The company has approximately 12,000 employees and is headquartered in New Orleans, Louisiana [2]

Financial Performance - Entergy Corporation reported a significant increase in revenue, reaching $3.5 billion for the quarter, representing a 10% year-over-year growth[1]. - The company achieved a net income of $500 million, which is a 15% increase compared to the same quarter last year[1]. - Entergy's net income attributable to the corporation for Q3 2024 was $786.5 million, an increase from $751.6 million in Q3 2023, representing a growth of 4.3%[25]. - Operating revenues for Q3 2024 were $3,370 million, a decrease of 5.3% compared to $3,559 million in Q3 2023[32]. - Consolidated net income for the three months ended September 30, 2024, was $645,754, compared to $669,714 in 2023; for the nine months, net income was $774,022, down from $1,374,026 in 2023[137]. - Consolidated net income for 2024 was $774,022, a decrease of 43.6% compared to $1,374,026 in 2023[142]. - Operating income for the three months ended September 30, 2024, was $1,125,862, a slight decrease from $1,143,383 in 2023; for the nine months, operating income was $1,981,475, down from $2,361,418 in 2023[137]. Customer and Market Growth - Customer growth was noted, with an increase of 2.5% in the number of residential customers, totaling approximately 3 million[1]. - Industrial usage increased due to higher demand from large industrial customers, particularly in the petroleum refining and chlor-alkali industries[28]. - Total retail sales for 2024 were 35,747 GWh, a slight decrease of 0.1% from 35,790 GWh in 2023, with residential sales down 9% and industrial sales up 10%[34]. - Total retail sales increased by 2% to 94,353 GWh in 2024 compared to 92,538 GWh in 2023, driven by industrial demand[59]. Investment and Infrastructure - Entergy expects to invest $20 billion over the next five years to enhance its infrastructure and expand renewable energy capacity[1]. - The company is targeting a 50% reduction in carbon emissions by 2030, aligning with its commitment to achieve net-zero carbon emissions by 2050[1]. - Entergy's capital expenditures for the upcoming year are projected to be approximately $4 billion, primarily focused on grid modernization and renewable projects[1]. - Entergy Corporation expects to issue approximately $4.4 billion of equity through 2028, with about $1.4 billion already contracted under forward sale agreements as of September 30, 2024[88]. - Entergy is planning approximately $25 billion in capital investments from 2025 to 2027, focusing on generation projects, nuclear fleet investments, and transmission improvements[91]. Regulatory and Legal Challenges - Entergy is facing regulatory challenges related to rate cases, which could impact future revenue growth and cost recovery efforts[1]. - Entergy Arkansas committed to forgo recovery of costs related to the 2013 ANO stator incident, leading to a write-off of $78 million in Q3 2023[26]. - Entergy Arkansas recorded a regulatory liability reversal of $92 million in Q3 2024, offsetting reductions in gross revenues from retail one-time bill credits[38]. - Entergy Louisiana recorded expenses of $151 million in Q2 2024 related to the global stipulated settlement agreement[178]. - Entergy Mississippi's formula rate plan for 2024 reflects an earned return on rate base of 6.08%, resulting in a total revenue increase of $64.6 million[182]. Debt and Financing - Interest expense for Entergy increased by $23.3 million in Q3 2024 compared to the previous year, reflecting higher borrowing costs[25]. - The company paid $723,975 in dividends for common stock, an increase from $678,699 in 2023[145]. - Long-term debt, including securitization bonds, rose to $26,563,350 in 2024 from $23,008,839 in 2023[149]. - Net cash flow from financing activities increased by $528 million for the nine months ended September 30, 2024, compared to the same period in 2023, primarily due to long-term debt activity providing approximately $2,742 million in 2024 versus $221 million in 2023[122]. Operational Efficiency - Entergy plans to launch a new energy efficiency program aimed at reducing customer energy consumption by 10% over the next three years[1]. - Other operation and maintenance expenses decreased from $743 million in Q3 2023 to $714 million in Q3 2024, primarily due to lower power delivery and compensation costs[35]. - The effective income tax rate for Q3 2024 was 25%, compared to 25.3% in Q3 2023, primarily due to state income tax accruals[46][47]. Future Projects and Developments - Entergy Arkansas expects the Driver Solar facility, a 250 MW project, to commence commercial operation by the end of 2024, with a substantial completion payment of approximately $100 million expected[97]. - Entergy Louisiana's application for an alternative to the RFP process to acquire up to 3 GW of solar resources was approved by the LPSC in May 2024[98]. - Entergy Texas filed an application for the Legend Power Station (754 MW) and Lone Star Power Station (453 MW), with estimated costs of $1.46 billion and $735.3 million respectively, both expected to be in service by mid-2028[105]. Miscellaneous - The Board declared a dividend of $1.20 per share at its October 2024 meeting[114]. - The company expects to receive $127 million from the U.S. Treasury related to the Vermont Yankee damages case in the fourth quarter of 2024[158]. - The balance of retained earnings as of September 30, 2024, was $11.985 billion, compared to $11.192 billion as of September 30, 2023, indicating an increase of approximately 7.1%[153][155].

Core Insights - Two stocks in the utilities sector are signaling potential warnings for momentum-focused investors as of November 1, 2024 [1] Group 1: Entergy Corp (ETR) - Entergy reported better-than-expected quarterly earnings and raised its FY24 EPS outlook, highlighting strong operational and regulatory performance [3] - The company's stock gained approximately 16% over the past month, reaching a 52-week high of $156.85 [3] - Entergy's RSI value is at 90.51, indicating it is significantly overbought [3] Group 2: Xcel Energy Inc (XEL) - Xcel Energy posted disappointing quarterly earnings, emphasizing the need for a fundamental shift in energy generation and delivery due to unprecedented demand [4] - The stock gained around 2% over the past five days, with a 52-week high of $67.73 [4] - Xcel Energy's RSI value is at 75.43, suggesting it is also overbought [4]

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $2.99 for Q3 2024, raising the bottom of the guidance range by $0.10 due to strong results and a new capital investment plan [7][53]. - Operating cash flow increased to nearly $1.6 billion, up $157 million from the previous year, driven by timing of fuel and purchase power payments [56]. - The company expects a 6% dividend increase and a 2-for-1 stock split effective December 13, 2024 [65][66]. Business Line Data and Key Metrics Changes - Industrial sales growth is projected at a compound annual growth rate of 11% to 12% through 2028, primarily due to a new customer in Louisiana [8]. - Weather-adjusted retail sales growth was 5%, with industrial sales increasing by 10% [55]. Market Data and Key Metrics Changes - The company is seeing strong customer interest in renewable energy products, including green tariffs and nuclear clean tariffs, to support decarbonization goals [9]. - The preliminary capital plan through 2028 has increased by $7 billion, driven by new transmission and generation investments, including renewables [10][60]. Company Strategy and Development Direction - The company is focused on a significant capital investment plan to support customer requirements and growth in industrial sales [6]. - Entergy is actively exploring new nuclear options and evaluating potential power upgrades at existing facilities, aiming for a total of up to 300 megawatts [18][19]. - The company is committed to carbon capture and storage (CCS) technologies to comply with future federal emissions requirements and support customer decarbonization objectives [15][17]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential driven by macro trends such as onshoring clean energy and electrification [30]. - The company has developed and refined storm preparedness plans, resulting in effective responses to hurricanes with minimal injuries and quick power restoration [31][32]. Other Important Information - The company has received regulatory approvals for several resilience investments, including a $1.9 billion accelerated resilience plan in Louisiana [36][44]. - Entergy Louisiana submitted a request for approval of transmission and generation investments to support a new customer, with a decision expected by September 2025 [22][23]. Q&A Session Summary Question: What drove the major change in the 2026 EPS growth outlook? - Management indicated that the step-up in EPS growth is supported by incremental capital for significant customer growth, with a substantial amount already baked into the plan [71]. Question: Is the investment for the new customer fully covered under the rate agreement? - Management confirmed that investments are expected to be fully recoverable under existing rate mechanisms, with the new customer covering their marginal costs [73][74]. Question: How sustainable is the 8% to 9% EPS growth rate beyond 2026? - Management highlighted that various drivers, including clean energy and electrification, are expected to support sustainable growth into the next decade [82]. Question: What is the company's approach to developing new nuclear projects? - Management emphasized the importance of stakeholder engagement and the need for customer support to manage risks associated with large capital projects like nuclear [115][116]. Question: Will the capital expenditures from the new large customer be reflected in the update? - Management confirmed that all potential capital expenditures from the new customer are included in the current update [124].

Core Insights - Entergy Corporation (ETR) reported Q3 2024 earnings of $2.99 per share, exceeding the Zacks Consensus Estimate of $2.91 by 2.8%, but down 4.8% from $3.14 in the previous year [1] - The decline in earnings is attributed to lower revenues and increased interest expenses compared to the same quarter last year [1] Revenue Performance - Entergy's Q3 revenues were $3.39 billion, missing the Zacks Consensus Estimate of $3.46 billion by 2% and down 5.7% from $3.60 billion in the prior year, primarily due to reduced revenues from the electric utility segment [2] Segment Analysis - The Utility segment's earnings increased to $3.65 per share from $3.54 in Q3 2023 [3] - The Parent & Other segment reported a loss of 66 cents per share, worsening from a loss of 40 cents in the same quarter last year [3] Operating and Financial Highlights - Operating expenses decreased to $2.26 billion, down 7.7% from $2.45 billion in the prior-year quarter [4] - Operating income was $1.13 billion, a slight decline of 1.5% from $1.14 billion year-over-year [4] - Total interest expenses rose to $295.1 million, an increase of 15.5% from $255.4 million in the comparable period of 2023 [4] - As of September 30, 2024, Entergy served 3.04 million retail customers, a 0.7% increase [4] Cash and Debt Position - Entergy's cash and cash equivalents stood at $1.41 billion as of September 30, 2024, compared to $0.13 billion at the end of 2023 [5] - Long-term debt increased to $26.56 billion from $23.01 billion as of December 31, 2023 [5] - Cash generated from operating activities was $1.56 billion, up from $1.41 billion in the previous year [5] Guidance Update - Entergy updated its 2024 financial guidance, now expecting adjusted earnings in the range of $7.15-$7.35 per share, compared to the previous range of $7.05-$7.35 [6] - The current Zacks Consensus Estimate for ETR's earnings is $7.21 per share, which is below the midpoint of the new guidance range [6]

Company Performance - Entergy reported quarterly earnings of $2.99 per share, exceeding the Zacks Consensus Estimate of $2.91 per share, but down from $3.27 per share a year ago, representing an earnings surprise of 2.75% [1] - The company posted revenues of $3.39 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.02%, and down from $3.6 billion year-over-year [2] - Over the last four quarters, Entergy has surpassed consensus EPS estimates two times, but has not beaten consensus revenue estimates [2] Stock Performance - Entergy shares have increased approximately 32.8% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] - The current Zacks Rank for Entergy is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.33 on $3 billion in revenues, and $7.21 on $12.2 billion in revenues for the current fiscal year [7] - The outlook for the Utility - Electric Power industry is currently in the top 39% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]

[Earnings Release Summary](index=1&type=section&id=Earnings%20Release%20Summary) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported Q3 2024 adjusted EPS of $2.99, a decrease from the prior year primarily due to unfavorable weather impacts **Q3 & YTD 2024 Earnings Summary** | Metric | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **As-Reported EPS** | $2.99 | $3.14 | ($0.15) | $3.58 | $6.45 | ($2.87) | | **Adjusted EPS (Non-GAAP)** | $2.99 | $3.27 | ($0.28) | $5.99 | $6.25 | ($0.26) | | **As-Reported Earnings ($M)** | $645 | $667 | ($22) | $769 | $1,369 | ($600) | | **Adjusted Earnings ($M, Non-GAAP)** | $645 | $694 | ($49) | $1,286 | $1,327 | ($41) | [Business Highlights & Strategic Developments](index=1&type=section&id=Business%20Highlights%20%26%20Strategic%20Developments) The company is advancing its growth strategy through new generation projects, infrastructure investments, and key shareholder actions - The company is pursuing significant new investments, including a new natural gas power station in Mississippi and 3 gigawatts of solar resources in Louisiana[2](index=2&type=chunk) - Progress in renewable energy includes placing the 100-megawatt Walnut Bend Solar facility in service and closing on the West Memphis Solar and Driver Solar projects[2](index=2&type=chunk) - The Board of Directors approved a **6% increase** in the quarterly dividend to $1.20 per share and a **two-for-one stock split**, effective with trading starting December 13, 2024[2](index=2&type=chunk) [Business Segment Performance](index=2&type=section&id=Business%20Segment%20Performance) Utility segment earnings declined due to weather and higher costs, while the Parent & Other segment reported a larger adjusted loss [Utility Segment](index=2&type=section&id=Utility%20Segment) The Utility segment's adjusted earnings decreased to $787 million, driven by negative weather impacts and higher expenses **Utility Segment Q3 Earnings** | Metric | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | **As-Reported Earnings ($M)** | $787 | $752 | $35 | | **Adjusted Earnings ($M, Non-GAAP)** | $787 | $810 | ($24) | | **As-Reported EPS** | $3.65 | $3.54 | $0.11 | | **Adjusted EPS (Non-GAAP)** | $3.65 | $3.82 | ($0.17) | - Key drivers for the change in earnings included positive effects from regulatory actions and lower O&M, which were more than offset by negative impacts from weather, higher depreciation expense, and higher interest expense[9](index=9&type=chunk) [Parent & Other Segment](index=3&type=section&id=Parent%20%26%20Other%20Segment) The Parent & Other segment's adjusted loss widened to $(142) million due to lower pension income and higher interest expense **Parent & Other Segment Q3 Loss** | Metric | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | **As-Reported Loss ($M)** | $(142) | $(85) | $(57) | | **Adjusted Loss ($M, Non-GAAP)** | $(142) | $(117) | $(25) | | **As-Reported EPS** | $(0.66) | $(0.40) | $(0.26) | | **Adjusted EPS (Non-GAAP)** | $(0.66) | $(0.55) | $(0.11) | - Drivers for the increased loss included lower non-service pension income, changes in legal provisions, and higher interest expense[13](index=13&type=chunk) [2024 Guidance and Outlook](index=3&type=section&id=2024%20Guidance%20and%20Outlook) The company narrowed its 2024 adjusted EPS guidance and announced a two-for-one forward stock split - The company narrowed its 2024 adjusted EPS guidance to a range of **$7.15 to $7.35** (pre-split)[16](index=16&type=chunk) - A **two-for-one forward stock split** was announced, with a record date of December 5, 2024, and distribution on December 12, 2024[15](index=15&type=chunk) [Financial Appendices](index=7&type=section&id=Financial%20Appendices) [Appendix A: Consolidated Results and Adjustments](index=8&type=section&id=Appendix%20A%3A%20Consolidated%20Results%20and%20Adjustments) This appendix reconciles GAAP to non-GAAP earnings and shows an increase in consolidated operating cash flow to $1.56 billion **Q3 2024 GAAP to Non-GAAP Reconciliation ($M)** | Segment | As-Reported Earnings | Adjustments | Adjusted Earnings (Non-GAAP) | | :--- | :--- | :--- | :--- | | **Utility** | $787 | $0 | $787 | | **Parent & Other** | $(142) | $0 | $(142) | | **Consolidated** | $645 | $0 | $645 | **Q3 Operating Cash Flow ($M)** | Segment | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | **Utility** | $1,600 | $1,387 | $213 | | **Parent & Other** | $(37) | $18 | $(55) | | **Consolidated** | $1,562 | $1,405 | $157 | [Appendix B: Earnings Variance Analysis](index=12&type=section&id=Appendix%20B%3A%20Earnings%20Variance%20Analysis) This section details the drivers of the $0.28 decrease in adjusted consolidated EPS from Q3 2023 to Q3 2024 - The change in Q3 adjusted consolidated EPS from $3.27 in 2023 to $2.99 in 2024 was a **decrease of $0.28**[42](index=42&type=chunk) - Key negative drivers for the quarterly EPS variance included electric volume/weather **(-$0.41)**, higher depreciation **(-$0.21)**, and higher interest expense **(-$0.14)**[42](index=42&type=chunk)[46](index=46&type=chunk) - Partially offsetting factors included favorable retail electric prices **(+$0.32)** and lower Other O&M **(+$0.10)**[42](index=42&type=chunk)[46](index=46&type=chunk) [Appendix C: Utility Operating and Financial Measures](index=17&type=section&id=Appendix%20C%3A%20Utility%20Operating%20and%20Financial%20Measures) This appendix shows flat total retail sales, but a 5.0% weather-adjusted increase driven by strong industrial demand **Q3 GWh Sold by Customer Class** | Customer Class | Q3 2024 (GWh) | Q3 2023 (GWh) | % Change | % Weather Adjusted Change | | :--- | :--- | :--- | :--- | :--- | | **Residential** | 11,519 | 12,661 | (9.0)% | 1.3% | | **Commercial** | 8,394 | 8,648 | (2.9)% | 2.0% | | **Industrial** | 15,150 | 13,781 | 9.9% | 9.9% | | **Total Retail** | 35,747 | 35,790 | (0.1)% | 5.0% | - The strong **9.9% increase** in industrial sales was mainly due to higher sales to large industrial customers, particularly in the petroleum refining industry[50](index=50&type=chunk) [Appendix D: Consolidated Financial Measures](index=18&type=section&id=Appendix%20D%3A%20Consolidated%20Financial%20Measures) This section presents key financial ratios indicating an improved credit profile, with FFO to adjusted debt increasing to 13.5% **Key Financial Measures (as of Sept 30)** | Metric | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | **As-reported ROE (LTM)** | 12.2% | 11.4% | 0.8% | | **Adjusted ROE (LTM, Non-GAAP)** | 9.7% | 11.1% | (1.4)% | | **Adjusted debt to adjusted capitalization** | 64% | 66% | (2)% | | **FFO to adjusted debt (LTM)** | 13.5% | 12.4% | 1.1% | | **Gross liquidity ($M)** | $5,757 | $5,865 | ($108) | [Appendix E: Definitions and Abbreviations](index=19&type=section&id=Appendix%20E%3A%20Definitions%20and%20Abbreviations) This appendix provides definitions for key financial measures and a list of abbreviations used in the report - This section defines key non-GAAP terms used for performance evaluation, such as Adjusted EPS, Adjusted ROE, and FFO to adjusted debt[55](index=55&type=chunk) - A comprehensive list of abbreviations is provided, including company-specific terms like E-LA (Entergy Louisiana) and FRP (Formula Rate Plan), and industry terms like MISO and FERC[57](index=57&type=chunk) [Appendix F: Other GAAP to non-GAAP Reconciliations](index=21&type=section&id=Appendix%20F%3A%20Other%20GAAP%20to%20non-GAAP%20Reconciliations) This appendix provides detailed reconciliations for key non-GAAP metrics including ROE, FFO to debt, and liquidity ratios - Reconciles Last Twelve Months (LTM) As-reported net income of $1,757 million to Adjusted earnings of $1,397 million, resulting in an **Adjusted ROE of 9.7%**[60](index=60&type=chunk) - Details the calculation of FFO to adjusted debt, starting with total debt of $29.1 billion and adjusting it to $28.3 billion to derive the **13.5% ratio**[61](index=61&type=chunk) - Provides a breakdown of liquidity, showing **Gross Liquidity of $5.8 billion** and Net Liquidity of $6.4 billion as of September 30, 2024[62](index=62&type=chunk) [Financial Statements](index=24&type=section&id=Financial%20Statements) [Consolidating Balance Sheets](index=24&type=section&id=Consolidating%20Balance%20Sheets) Total assets grew to $64.5 billion as of September 30, 2024, with total shareholders' equity at $15.0 billion **Consolidated Balance Sheet Summary ($ thousands)** | Account | Sept 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $5,217,806 | $3,660,869 | | **Total Assets** | $64,462,049 | $59,703,396 | | **Total Current Liabilities** | $5,859,246 | $6,396,492 | | **Total Liabilities** | $49,100,928 | $44,740,880 | | **Total Shareholders' Equity** | $15,032,842 | $14,622,647 | [Consolidating Income Statements](index=28&type=section&id=Consolidating%20Income%20Statements) Q3 2024 operating revenues were $3.39 billion, with net income attributable to the corporation at $645 million **Q3 Income Statement Summary ($ thousands)** | Account | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Total Operating Revenues** | $3,389,100 | $3,595,522 | | **Operating Income** | $1,125,862 | $1,143,383 | | **Net Income Attributable to ETR** | $644,940 | $666,755 | [Consolidated Cash Flow Statements](index=36&type=section&id=Consolidated%20Cash%20Flow%20Statements) Year-to-date net cash from operations was $3.11 billion, with increased cash used in investing and provided by financing **YTD Cash Flow Summary ($ thousands)** | Cash Flow Category | Nine Months Ended Sept 30, 2024 | Nine Months Ended Sept 30, 2023 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $3,108,828 | $3,230,993 | | **Net Cash used in Investing Activities** | $(4,001,615) | $(3,579,062) | | **Net Cash from Financing Activities** | $2,172,051 | $1,643,679 | | **Net Increase in Cash** | $1,279,264 | $1,295,610 |

Core Insights - Entergy Corporation reported third quarter 2024 earnings per share (EPS) of $2.99, down from $3.14 in the same quarter of 2023, reflecting a decrease of 4.8% [4][6][10] - The company narrowed its 2024 adjusted EPS guidance range to $7.15 to $7.35 (pre-split) [2][13] - Entergy's Board of Directors declared a quarterly dividend of $1.20 per share, marking a 6% increase [2][12] Financial Performance - For Q3 2024, Entergy's consolidated earnings were $645 million, compared to $667 million in Q3 2023, a decrease of $22 million [4][27] - Adjusted earnings for Q3 2024 were $645 million, down from $694 million in Q3 2023, reflecting a decrease of $49 million [3][4] - Year-to-date 2024 earnings were reported at $769 million, significantly lower than $1.369 billion in 2023, a decrease of $600 million [3][4] Business Highlights - The Utility segment reported earnings of $787 million for Q3 2024, an increase from $752 million in Q3 2023 [6][10] - Entergy Arkansas recorded a write-off of $(78 million) in Q3 2023 due to a regulatory incident, which impacted year-over-year comparisons [7][10] - Entergy Louisiana filed for approval of significant new transmission and generation investments to support a large customer [2][6] Operational Developments - Entergy Arkansas placed the 100-megawatt Walnut Bend Solar project in service [2] - Entergy Mississippi announced plans to build its first new natural gas power station in 50 years [2] - Entergy Louisiana issued a request for proposals (RFP) to acquire 3 gigawatts of solar resources [2] Regulatory and Strategic Actions - The Louisiana Public Service Commission (LPSC) approved several items for Entergy Louisiana, including a fuel recovery plan renewal and a settlement with SERI [2] - Entergy's Board approved a two-for-one stock split, effective December 13, 2024 [2][12] - Entergy was recognized as one of the nation's top utilities in economic development for the 17th consecutive year [2]

Core Viewpoint - Entergy Corporation (ETR) has announced a 6.2% increase in its quarterly dividend, reflecting a commitment to returning value to shareholders while pursuing significant capital investments to enhance its operational capabilities and sustainability [1][2][3]. Dividend Announcement - The revised quarterly dividend will be $1.20 per share, payable on December 2, 2024, to shareholders of record as of November 13, 2024 [1]. - The new annualized dividend rate is $4.80, with a current dividend yield of 3.52%, outperforming the Zacks S&P 500 composite's yield of 1.23% [2]. Capital Investment Strategy - Entergy plans to invest $19.76 billion from 2024 to 2026 to modernize and diversify its portfolio, including $10.63 billion specifically for transmission and distribution projects [3]. - These investments aim to enhance grid resilience and customer service, which are expected to improve revenue generation prospects and support future dividend increases [3][4]. Grid Resilience Initiatives - Entergy is undertaking a grid hardening plan authorized by the Louisiana Public Service Commission, involving 2,100 projects with a total funding of $1.9 billion over five years [4]. - Such investments are anticipated to improve operational efficiencies and profitability, enabling the company to fund shareholder-friendly initiatives in the future [4]. Industry Context - Other utility companies have also announced dividend hikes, reflecting a trend in the industry where stable income from regulated operations allows for regular dividend payments and buybacks [5]. - IDACORP, New Jersey Resources, and National Fuel Gas Company have all recently increased their dividends, indicating a broader positive sentiment in the utility sector [6][7][8]. Stock Performance - Over the past six months, ETR shares have increased by 27.2%, significantly outperforming the industry growth of 13.6% [9].