Entergy(US:ETR) ZACKSยท2024-10-31 15:56Core 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]