Entergy(US:ETR)2025-02-18 13:43Financial Performance - Entergy reported Q4 2024 earnings of $286 million, or $0.65 per share, down from $988 million, or $2.32 per share in Q4 2023[7]. - For the full year 2024, Entergy's earnings were $1,056 million, or $2.45 per share, compared to $2,357 million, or $5.55 per share in 2023[8]. - The company reported a loss of $(771 million), or $(1.79) per share, for Parent & Other in 2024, compared to a loss of $(151 million), or $(0.35) per share in 2023[15]. - Entergy's consolidated earnings for Q4 2024 were $286 million, a decrease of $701 million compared to Q4 2023, while full-year earnings were $1,056 million, down $1,301 million year-over-year[41]. - The diluted earnings per share (EPS) for consolidated results in Q4 2024 was $0.65, down from $2.32 in Q4 2023, while the full-year EPS was $2.45, a decrease from $5.55 in 2023[41]. - Consolidated net income for Q4 2024 was $287,163, compared to $987,603 in Q4 2023, indicating a significant decrease of about 70.1%[77][78]. - Consolidated net income for 2024 was $1,061,184, a decrease of 55% compared to $2,362,310 in 2023, reflecting a variance of $(1,301,126)[83]. Adjusted Earnings - Adjusted earnings for 2024 were $1,577 million, or $3.65 per share, an increase from $1,438 million, or $3.39 per share in 2023[8]. - Adjusted earnings for the utility segment in Q4 2024 were $426 million, an increase of 183 million from Q4 2023, and for the full year, adjusted earnings were $2,115 million, up 220 million from 2023[41]. - The adjusted earnings per share for the consolidated entity in Q4 2024 was $0.66, compared to $2.32 in Q4 2023, reflecting a significant decrease[50]. - Full year 2024 adjusted earnings per share for the consolidated entity was $3.65, down from $5.55 in 2023, indicating a decline of 34.2%[50]. - Adjusted earnings for Q4 2024 were $1,577 million, an increase from $1,438 million in Q4 2023, with an adjusted ROE of 10.6%[70]. Revenue and Sales - Total retail sales increased by 8.0% in Q4 2024 compared to Q4 2023, with industrial sales up 14.8% and residential sales down 0.4%[61]. - The full-year weather-adjusted retail sales increased by 3.7%, driven by an 8.1% increase in industrial volume[62]. - Total operating revenues for Q4 2024 reached $2,742,305, a slight increase from $2,724,805 in Q4 2023, representing a growth of approximately 0.64%[77][78]. - Consolidated operating revenues for Entergy Corporation reached $12,147,412 thousand, with electric revenues contributing $11,842,454 thousand, and natural gas revenues at $180,490 thousand[80]. Operating Expenses and Cash Flow - Total operating expenses for Q4 2024 were $2,072,690, up from $2,468,248 in Q4 2023, marking an increase of approximately 8.5%[77][78]. - The increase in operating cash flow was primarily due to lower fuel and purchased power payments and customer advances for construction[47]. - Net cash flow provided by operating activities increased to $4,488,510 in 2024, up by 4.5% from $4,294,328 in 2023, showing a variance of $194,182[83]. - Net cash flow provided by operating activities increased to $1,379,682 thousand, up by $316,347 thousand from the previous year[81]. Debt and Capitalization - Total debt rose to $29.034 billion in 2024, an increase of $2.699 billion from 2023[64]. - The company executed a two-for-one forward stock split effective December 13, 2024, impacting all periods presented[76]. - The company has a total capitalization of $44,438 million, with a total debt to total capitalization ratio of 65%[71]. - Long-term debt rose to $26,613,505,000 in 2024, compared to $23,008,839,000 in 2023, indicating an increase of about 15%[73][75]. - Proceeds from the issuance of long-term debt significantly increased to $7,898,968 in 2024, up by 84.5% from $4,273,297 in 2023, with a variance of $3,625,671[83]. Regulatory and Environmental Initiatives - Entergy was recognized in the Dow Jones Sustainability Index for the 23rd consecutive year and named one of America's most responsible companies by Newsweek[4]. - The company is focused on enhancing its grid resilience and innovation partnerships, aligning with regulatory and environmental goals[71]. - Entergy's future outlook includes expectations for industrial load growth and ongoing climate transition plans, although specific numerical guidance was not provided in the release[34]. Miscellaneous - Entergy's estimated weather impact on earnings was a decrease of $25 million for the full year 2024 compared to 2023[5]. - The company recorded a $9 million regulatory liability adjustment in Q4 2024 related to the Louisiana state income tax rate change[54]. - The company reported a pension settlement charge of $319,675 in 2024, which was not present in 2023, indicating a new financial obligation[83].