Entergy Corp
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.54%.
Did ETR Beat Earnings? Q4 2025 Results
Entergy delivered a mixed fourth quarter to close out 2025, narrowly missing on the bottom line while edging ahead on revenue. The utility reported Q4 adjusted earnings of $0.51 per share, falling short of the $0.54 consensus estimate by 5.83%, as higher interest expense from expanded debt balances and elevated operations and maintenance costs weighed on per-share results. Revenue, however, came in at $2.96 billion, a 7.9% increase year-over-year and a slight beat against the $2.94 billion consensus. The quarter capped a full-year 2025 in which Entergy earned $3.91 per share, landing in the top half of its guidance range, with the Utility segment contributing $5.06 per share in adjusted earnings supported by formula rate plan approvals and industrial load growth of 6.7%. Morgan Stanley recently raised its price objective on the stock to $98, citing strong execution across the company's regulated portfolio. Looking ahead, Entergy initiated 2026 adjusted EPS guidance of $4.25 to $4.45, underpinned by continued capital investment in generation and transmission to serve rapidly growing data center and industrial demand.
- Regulatory actions across operating companies including formula rate plans and riders
- Higher retail sales volume including weather impacts, with weather-adjusted retail sales up 3.9% for full year
- Industrial volume increased 6.7% driven by primary metals, petroleum refining, chlor-alkali, and technology industries
- Residential sales increased 2.1% and commercial sales increased 1.2%
- Return on construction work in progress for certain utility plant investments
- Lower nuclear refueling outage expenses
- Higher operating cash flow from customer receipts and production tax credit sale proceeds
- Conclusion of legacy EWC purchased power agreement in December 2024
“2025 was another important year in Entergy's transformational growth story as we continued to secure significant electric service agreements with data centers and traditional industrial customers.”
Entergy CEO, on the earnings call
Forward Guidance & Outlook
Entergy initiated 2026 adjusted earnings per share guidance of $4.25 to $4.45. The company continues to invest in generation, transmission, and grid resilience to meet rapidly growing demand from data centers and industrial customers. Industrial load growth remains a key driver, with weather-adjusted retail sales up 3.9% in 2025 and industrial volumes up 6.7%. Multiple regulatory approvals and filings support the company's capital investment plan across its service territory.
ETR YoY Financials
ETR Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.