Earnings Analysis November 2, 2026

Entergy Corp ($ETR) Q3 FY2026 Earnings Analysis: EPS and Revenue Both Beat Estimates, Guidance Range Narrowed

Earnings Report

Revenue: $4.36517 billion (up 14.5% YoY, vs. $4.174 billion expected) ✅ Beat

EPS (Earnings Per Share): $1.98 (Adjusted/GAAP identical, vs. $1.53 YoY, vs. $1.66 expected) ✅ Beat

Guidance: Maintained · 2026 adjusted EPS of $4.35–$4.45, narrowing the range

Stock Reaction: -0.73% in regular session ($109.31, as of 00:46 KST on 11-03)

Highlights

EPS of $1.98: Surpassed the $1.66 estimate by 19%

Revenue of $4.36517 billion: Increased 14.5% compared to the same period last year

Weather-adjusted sales up 4.5%: Industrial sales grew by 4.9%

The increase in power demand itself is noteworthy. Data centers and primary metal customers drove industrial sales, a power generation facility (Orange County Power Plant) began operations in Texas, and a large-scale transmission project was approved in Louisiana. The quarterly dividend was also raised by 6% to 68 cents per share.

Lowlights

Weather effect of $0.24: 12% of total earnings per share came from temperature factors

Interest expense of $460.93 million: Increased by $114 million compared to the same period last year

Diluted shares outstanding of 474.43 million: Increased from 453.55 million in the same period last year

Excluding weather, EPS becomes $1.74, which is closer to the $1.66 estimate. As total debt rose to $34.936 billion and quarterly capital expenditures exceeded $2.7 billion, the burden of interest and depreciation increased. Losses in the parent company and other segments also expanded to $139 million compared to the previous year.

What the Company Said

CEO Drew Marsh stated that the company made significant progress in customer, operational, regulatory, and financial aspects this quarter and secured visibility into achieving short- and long-term goals. However, as the annual adjusted EPS outlook only involved narrowing the range, the quarterly surprise did not lead to an upward revision of the annual guidance.

Market Reaction and Future Key Points

A significant portion of the profit increase came from temperature, while interest expenses and an increase in shares outstanding offset the remainder. The annual guidance was also narrowed rather than raised.

A key point to check is whether earnings per share, excluding weather effects, exceeded expectations in the fourth quarter.

To meet the annual adjusted earnings per share guidance of $4.35–$4.45, the fourth quarter needs to deliver $0.46–$0.56.

It remains to be seen whether interest expenses will increase further from the $460 million range per quarter.

Earnings Call Summary

Once the earnings call concludes and the company script is released, the key takeaways from the call will be added here. We will select and summarize only the most important details, such as how management explained performance and guidance, and what analysts asked.