Entergy reports third quarter earnings

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]