Entergy(US:ETR)2026-02-12 12:49Financial Performance - Entergy reported fourth quarter 2025 earnings per share of $0.51, down from $0.65 in Q4 2024, and full year 2025 earnings per share of $3.91, up from $2.45 in 2024[1][7][8]. - For full year 2025, Entergy's Utility business reported earnings of $2,280 million, or $5.06 per share, compared to $1,827 million, or $4.23 per share in 2024[11]. - Adjusted earnings for full year 2025 were $1,758 million, an increase of $181 million from $1,577 million in 2024[5][8]. - Consolidated adjusted earnings for Q4 2025 were $236 million, a decrease of 19% compared to $291 million in Q4 2024, with full-year adjusted earnings rising by 11.5% to $1,758 million from $1,577 million[42]. - The Parent & Other segment reported a loss of $(521 million) for full year 2025, an improvement from a loss of $(771 million) in 2024[14]. - Utility reported earnings for Q4 2025 were $381 million, down 5.7% from $404 million in Q4 2024, while full-year earnings increased by 24.8% to $2,280 million from $1,827 million[42]. - The company reported a decrease in interest expense to $1,203,588,000, down from $1,150,820,000, indicating a reduction in financing costs[73]. - Consolidated net income for 2025 reached $1,773,328, an increase of $712,144 or 67.0% compared to $1,061,184 in 2024[76]. Revenue and Sales - Fourth quarter 2025 total retail sales increased by 1.8% to 30,017 GWh compared to 29,497 GWh in Q4 2024, with a full year increase of 4.1% to 128,960 GWh[54]. - Consolidated operating revenues for Q4 2025 reached $2,958,944, an increase from $2,742,305 in Q4 2024, representing a growth of approximately 7.9% year-over-year[70][71]. - Year-to-date operating revenues for 2025 totaled $12,946,686, compared to $12,887,921 in 2024, showing a slight increase of about 0.5%[72]. - Consolidated operating revenues for Entergy Corporation reached $11,879,653,000, with electric revenues contributing $11,627,732,000, and natural gas revenues at $178,070,000[73]. Costs and Expenses - Total operating expenses for Q4 2025 amounted to $2,413,236, up from $2,072,690 in Q4 2024, marking an increase of around 16.4%[70][71]. - Full year 2025 earnings decrease from higher utility depreciation and amortization was primarily due to higher plant in service and increased nuclear depreciation rates[57]. - Interest expense for Q4 2025 was $374,512, an increase from $316,080 in Q4 2024, representing a rise of about 18.4%[70][71]. Cash Flow and Liquidity - Operating cash flow (OCF) for Q4 2025 was $1,218 million, down 11.7% from $1,380 million in Q4 2024, while full-year OCF increased by 14.4% to $5,151 million from $4,489 million[46]. - Cash and cash equivalents totaled $1,929 million as of December 31, 2025, compared to $860 million a year earlier, indicating improved liquidity[66]. - The net increase in cash and cash equivalents was $411,947,000, contrasting with a decrease of $552,109,000 in 2024, resulting in a net change of $964,056,000[74]. - Net cash flow provided by operating activities increased to $5,150,651, up $662,141 or 14.7% from $4,488,510 in 2024[76]. Debt and Capitalization - Total debt increased to $31,050 million in Q4 2025 from $29,034 million in Q4 2024, while adjusted debt rose to $29,579 million from $28,194 million[65]. - The total capitalization of Entergy Corporation was $48,284 million in Q4 2025, up from $44,438 million in Q4 2024, reflecting growth in the company's financial structure[65]. - Total consolidated liabilities and equity for Entergy Corporation as of December 31, 2025, is $71,890,730,000, an increase from $64,790,032,000 in 2024, reflecting a growth of approximately 10.5%[67][69]. - Long-term debt rose to $27,902,021,000 in 2025, up from $26,613,505,000 in 2024, indicating an increase of approximately 4.8%[67][69]. Regulatory and Operational Developments - The APSC approved multiple projects, including the Jefferson Power Station and special rate contracts for Google, enhancing Entergy's operational capacity[4]. - The company anticipates continued growth in electricity demand, particularly from hyperscale data centers and large customers, which may impact future operational strategies[42]. - Entergy was named a Top Utility in economic development for the 18th consecutive year by Site Selection magazine[4]. Shareholder Information - The diluted average number of common shares outstanding increased to 459 million in Q4 2025 from 438 million in Q4 2024, and for the full year, it rose to 450 million from 432 million[42]. - Basic earnings per share for Q4 2025 were $0.52, down from $0.67 in Q4 2024, indicating a decline of approximately 22.4%[70][71].