Entergy reports third quarter 2026 financial results
ENTERGY TEXAS, INC. (ETI-P) filed an SEC Form 8-K — Results of Operations and Financial Condition. NEWS RELEASE FOR IMMEDIATE RELEASE Nov. 2, 2026 Entergy reports third quarter 2026 financial results Company narrows guidance range, affirms financial outlooks NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported third quarter 2026 earnings per share of $1.98 on an as-reported
How this was made
The 30-second read
Why it matters
The earnings beat and tighter guidance are likely to keep the stock near its current level, with limited upside unless subsequent guidance is updated.
Market read
Primary earnings release for a Fortune‑500 utility; directly relevant to investors and sector analysts.
What to watch
The $14 million DOE grant and new service agreement with Google may provide longer‑term growth not reflected in the guidance.
Entergy reports third quarter 2026 financial results; company narrows guidance range and affirms financial outlooks
Third-quarter GAAP and adjusted earnings attributable to Entergy Corporation were $940 million, or $1.98 per diluted share, versus $694 million, or $1.53 per diluted share, in third quarter 2025. Utility earnings increased to $1,079 million, supported by higher electric volume, rate actions, CWIP returns and other income, while operating cash flow rose to $2,235 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Third quarter 2026 total operating revenuesGAAP | $4.37B | – | – |
| Third quarter 2026 electric operating revenuesGAAP | $4.35B | – | – |
| Third quarter 2026 total operating expensesGAAP | $2.88B | – | – |
| Third quarter 2026 fuel, fuel related expenses, and gas purchased for resaleGAAP | $725.5M | – | – |
| Third quarter 2026 purchased powerGAAP | $464.0M | – | – |
| Third quarter 2026 nuclear refueling outage expensesGAAP | $29.85M | – | – |
| Third quarter 2026 other operation and maintenanceGAAP | $832.9M | – | – |
| Third quarter 2026 depreciation and amortizationGAAP | $551.4M | – | – |
| Third quarter 2026 operating incomeGAAP | $1.48B | – | – |
| Third quarter 2026 consolidated net incomeGAAP | $945.6M | – | – |
| Third quarter 2026 net income attributable to Entergy CorporationGAAP | $940M | – | $247 million |
| Third quarter 2026 diluted earnings per average common shareGAAP | $1.98 | – | $0.45 |
| Third quarter 2026 adjusted earningsnon-GAAP | $940M | – | $247 million |
| Third quarter 2026 adjusted earnings per sharenon-GAAP | $1.98 | – | $0.45 |
| Third quarter 2026 estimated weather impactother | $116M | – | $88 million |
| Third quarter 2026 estimated weather impact per shareother | $0.24 | – | $0.18 |
| Third quarter 2026 diluted average number of common shares outstandingother | 474M | – | 21 million |
| Year-to-date 2026 net income attributable to Entergy CorporationGAAP | $1.81B | – | $285 million |
| Year-to-date 2026 diluted earnings per average common shareGAAP | $3.86 | – | $0.46 |
| Year-to-date 2026 adjusted earningsnon-GAAP | $1.82B | – | $299 million |
| Year-to-date 2026 adjusted earnings per sharenon-GAAP | $3.89 | – | $0.49 |
| Third quarter 2026 consolidated operating cash flowGAAP | $2.23B | – | $100 million |
| Year-to-date 2026 consolidated operating cash flowGAAP | $4.96B | – | $1,024 million |
| Third quarter 2026 construction/capital expendituresGAAP | −$2.71B | – | $(823,720) (Dollars in thousands) |
| Year-to-date 2026 construction/capital expendituresGAAP | −$7.74B | – | $(2,186,213) (Dollars in thousands) |
| Cash and cash equivalents as of September 30, 2026GAAP | $4.21B | – | $2,688 million |
| Total debt as of September 30, 2026GAAP | $34.94B | – | $4,373 million |
| Total debt to total capital as of September 30, 2026GAAP | 63% | – | (1)% |
| Gross liquidity as of September 30, 2026non-GAAP | $8.55B | – | $2,688 million |
| Net liquidity as of September 30, 2026non-GAAP | $10.91B | – | $3,061 million |
| Adjusted ROE for 12 months ending September 30non-GAAP | 11.3% | – | (0.2)% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| UtilityThird-quarter earnings growth reflected higher retail sales volume, including weather effects; the net effect of regulatory actions; return on construction work in progress for certain utility plant investments; and higher other income (deductions). | $4.35B | – | – |
| Parent & OtherThe primary driver for the quarter-over-quarter change in Parent & Other earnings was higher interest expense. | $12.27M | – | – |
2026 outlook
- NoteAdjusted earnings per share: $4.35 to $4.45
Capital returns
- Entergy’s Board of Directors declared a quarterly dividend of 68 cents per share, a six percent increase.
- Common stock dividends paid were $(298,653) (Dollars in thousands) in the third quarter of 2026, compared with $(267,939) (Dollars in thousands) in the third quarter of 2025.
- Common stock dividends paid were $(884,552) (Dollars in thousands) year to date in 2026, compared with $(784,655) (Dollars in thousands) year to date in 2025.
What drove it
- Third-quarter total retail GWh sold were 39,864 versus 37,124, a 7.4 percent increase; weather-adjusted retail sales increased 4.5 percent.
- Residential GWh sold were 13,163 versus 11,692, a 12.6 percent increase and 6.1 percent weather-adjusted growth.
- Industrial GWh sold were 17,055 versus 16,255, a 4.9 percent increase, driven by higher sales to data center and primary metals customers.
- The Utility earnings increase included the effects of E-AR’s FRP, E-AR’s Generating Arkansas Jobs Act rider, E-LA’s FRP including FRP riders, E-LA’s RPCR, E-MS’s FRP interim facilities rate adjustment, E-TX’s TCRF, and E-TX’s DCRF.
- Higher revenue from amortization of customer advances designed to provide a return on CWIP for certain utility plant investments contributed to earnings growth.
- Other income improved on higher amortization of tax gross ups on customer advances, higher external interest income, and higher AFUDC-equity due to higher construction work in progress.
Concerns
- Higher Utility other O&M reflected increased vegetation maintenance costs and higher power-generation expenses, including a higher scope of work performed in 2026 during plant outages.
- Higher depreciation and amortization primarily reflected higher plant in service, higher FERC jurisdictional depreciation rates at E-AR and E-LA effective January 2026, and increases in E-LA nuclear depreciation rates.
- Higher Utility interest expense reflected higher debt balances, higher average interest rates, higher carrying costs on customer advances, and 2026 carrying costs on retained proceeds from monetization of production tax credits.
- Parent & Other interest expense increased primarily because of issuance of $1.3 billion and $1.5 billion of junior subordinated debentures in November 2025 and August 2026, respectively.
- The share effect reduced third-quarter EPS by $(0.09), primarily because of higher diluted average common shares outstanding following settlements of equity forwards in October 2025, February 2026, June 2026, and September 2026.
- The filing identifies risks that contracted or expected load growth may not materialize or be sustained and risks around recovery and timing of costs in rate proceedings and other cost-recovery mechanisms.
What to watch
- Delivery against the narrowed 2026 adjusted EPS guidance range of $4.35 to $4.45.
- Weather-adjusted retail sales, particularly data-center and primary-metals industrial demand.
- The pace of customer advances, CWIP investment and returns on utility plant investments.
- Interest expense, debt balances and the funding of elevated construction/capital expenditures.
- Execution and regulatory outcomes for the $1.2 billion Babel to Webre transmission project, Entergy Louisiana’s additional Future Ready resilience plan investment application, and Entergy Mississippi’s Winter Storm Fern securitization application.
Balance sheet and cash flow
- Cash and cash equivalents were $4,205 million as of September 30, 2026, compared with $1,517 million as of September 30, 2025.
- Available revolver capacity was $4,346 million as of September 30, 2026.
- Commercial paper was $105 million as of September 30, 2026, compared with $1,398 million as of September 30, 2025.
- Total debt was $34,936 million as of September 30, 2026, including $4,000 million of junior subordinated debentures and $213 million of securitization debt.
- Year-to-date net cash flow provided by operating activities was $4,956,687 (Dollars in thousands), compared with $3,932,585 (Dollars in thousands).
- Year-to-date net cash flow used in investing activities was $(7,841,379) (Dollars in thousands), compared with $(5,211,372) (Dollars in thousands).
- Year-to-date net cash flow provided by financing activities was $5,160,816 (Dollars in thousands), compared with $1,936,053 (Dollars in thousands).
Analysis
The filing reports Entergy Corporation consolidated third-quarter results, rather than standalone Entergy Texas, Inc. results. Consolidated GAAP earnings attributable to Entergy Corporation were $940 million, or $1.98 per diluted share, compared with $694 million, or $1.53 per diluted share, in the prior-year quarter. Adjusted earnings and adjusted EPS matched the GAAP figures in the quarter because no third-quarter adjustments were reported. Year-to-date adjusted earnings were $1,821 million, or $3.89 per share, compared with $1,522 million, or $3.40 per share.
The Utility business was the central earnings contributor, reporting $1,079 million, or $2.28 per share, versus $810 million, or $1.79 per share. Management attributed the increase to higher retail sales volume including weather, regulatory actions, CWIP returns and higher other income. Retail sales trends were broad-based: total retail GWh sold increased 7.4 percent, with weather-adjusted retail sales up 4.5 percent. Industrial sales grew 4.9 percent, with data center and primary metals customers identified as the source of that growth.
Costs and financing remain important offsets. Other O&M increased on vegetation maintenance and generation work, while depreciation and amortization increased with plant additions and rate changes. Interest expense rose at both Utility and Parent & Other as debt balances, average rates, customer-advance carrying costs and junior subordinated debenture issuance increased. The greater diluted share count also reduced third-quarter EPS by $(0.09) through the reported share effect.
Cash generation improved, with third-quarter operating cash flow of $2,235 million and year-to-date operating cash flow of $4,957 million. Management said year-to-date operating cash flow benefited from advance payments under customer agreements and higher Utility customer collections. Investment requirements were substantial, as year-to-date construction/capital expenditures were $(7,743,362) (Dollars in thousands). The company funded investment through debt, common stock and customer advances, and ended the quarter with $4,205 million of cash and cash equivalents, $34,936 million of total debt and $10,907 million of net liquidity.
Entergy narrowed 2026 adjusted EPS guidance to $4.35 to $4.45. The release did not provide revenue, expense or tax-rate guidance. Capital returns included a declared quarterly dividend of 68 cents per share, a six percent increase. Execution on load growth, regulatory recovery, resilience and transmission projects, construction spending, and financing costs will determine the balance between the company’s stated growth opportunities and its elevated capital requirements.
Management, verbatim
We made very strong progress this quarter across customer, operational, regulatory, and financial aspects of our business. We have clear line of sight to deliver on our near- and long-term objectives, and we are well positioned to execute on additional opportunities driven by customer needs.
Drew Marsh, Entergy Chair and Chief Executive Officer
Not in the filing
stated, not guessed- Standalone Entergy Texas, Inc. financial results are not provided; the filing and earnings release report Entergy Corporation consolidated results under ticker ETR.
- Previous-release outlook was not provided, so no comparison of actual results with prior guidance is available.
- Revenue guidance
- Gross margin and gross-margin guidance
- Operating-expense guidance
- Tax-rate guidance
- Free cash flow
- Share repurchases
- Quarter-over-quarter financial comparisons
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Entergy's Q3 2026 earnings release filed via SEC Form 8‑K provides the first public disclosure of its quarterly results and updated guidance.
Ticker impact
Entergy reported Q3 2026 earnings of $1.98 per share and narrowed 2026 adjusted EPS guidance to $4.35‑$4.45.
likely modest pressure as the market prices in the narrowed guidance range
Fresh earnings and guidance are primary disclosures; the guidance is tighter, which may temper bullish sentiment despite earnings beat.
Market effects
Utility sector may see limited upside as Entergy's guidance narrows, potentially influencing peer expectations.
Southern U.S. utility markets could experience modest re‑rating based on Entergy's results.
Low; impact confined to U.S. utility investors.
Counterpoint
Investors could view the narrowed guidance as a sign of upcoming headwinds and consider short positions.
Key entities
- companyEntergy Corporation
U.S. utility company reporting Q3 2026 results.
