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Entergy's (ETR) Q1 Earnings Miss Estimates, Revenues Rise Y/Y

Entergy Corporation ETR reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.

The company reported GAAP earnings of $1.47 per share compared with $1.36 in the prior-year period.

Q1 Revenues

Entergy’s reported revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.

Entergy Corporation Price, Consensus and EPS Surprise

Entergy Corporation Price, Consensus and EPS Surprise
Entergy Corporation Price, Consensus and EPS Surprise

Entergy Corporation price-consensus-eps-surprise-chart | Entergy Corporation Quote

Segmental Results

Utility: The segment’s quarterly earnings came in at $1.87 per share compared with $1.67 in the prior-year quarter.

Parent & Other: The segment incurred a loss of 41 cents per share, wider than the year-ago quarter’s loss of 35 cents.

Highlights of the Release

Operating expenses were $2.52 billion, up 9% from $2.31 billion in the prior-year quarter.

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Operating income totaled $462.1 million, down 18.4% from $566.1 million in the year-ago period.

Total interest expenses were $245.7 million, up 10.9% from $221.5 million in the comparable period of 2022.

As of Mar 31, 2023, total retail customers served by the company increased 0.5% to 3 million.

Financial Highlights

As of the same date, Entergy had cash and cash equivalents of $1,970.5 million compared with $224.2 million as of Dec 31, 2022.

Long-term debt was $24.46 billion as of Mar 31, 2023, compared with $23.62 billion as of Dec 31, 2022.

During the quarter under review, ETR generated cash from operating activities of $959.5 million compared with $538 million in first-quarter 2022.

Guidance for 2023

Entergy reiterated its financial guidance for 2023. The company maintained its adjusted earnings guidance in the range of $6.55-$6.85 per share. The Zacks Consensus Estimate for earnings is currently pegged at $6.70 per share, in line with the midpoint of the company’s guided range.

Zacks Rank

Entergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A Recent Utility Release

NextEra Energy, Inc. NEE reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.

NextEra’s operating revenues were $6,716 million, which surpassed the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.

Upcoming Releases

Xcel Energy XEL is scheduled to announce first-quarter 2023 results on Apr 27. The Zacks Consensus Estimate for earnings is currently pegged at 74 cents per share.

Xcel Energy’s long-term (three- to five-year) earnings growth is expected to be 6.6%. The consensus mark for 2023 sales indicates a year-over-year increase of 2.7%.

WEC Energy Group WEC is set to release first-quarter 2023 results on May 1. The Zacks Consensus Estimate for earnings is currently pegged at $1.59 per share.

WEC Energy’s long-term earnings growth is projected at 5.8%. The consensus estimate for 2023 earnings indicates a year-over-year decline of 0.3%.

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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

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WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report

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