10-QPeriod: Q3 FY2025

ENTERGY CORP /DE/ Quarterly Report for Q3 Ended Sep 30, 2025

Filed October 31, 2025For Securities:ETR

Summary

Entergy Corporation's Q3 2025 results, as reported through its subsidiaries, show mixed performance across its operating regions. Entergy Arkansas reported an increase in net income driven by higher volume/weather and retail electric prices, although this was partially offset by higher operating expenses and taxes. Entergy Louisiana experienced a decrease in net income due to lower retail electric prices and increased operating expenses, despite higher other income and volume/weather. Conversely, Entergy Mississippi saw a significant increase in net income, boosted by liquidated damages from a purchased power agreement, higher other income, volume/weather, and retail electric prices, although interest and O&M expenses also rose. Entergy New Orleans reported a decrease in net income, impacted by a charge for writing off retained natural gas plant assets and lower volume/weather. Entergy Texas demonstrated growth in net income, attributed to higher retail electric prices and increased volume/weather, but faced higher purchased power costs and operating expenses. System Energy Resources, Inc. reported a decrease in net income due to a lower rate of return on its rate base.

Financial Highlights

45 data points
Beta

Revenue

$3.81B

Net Income

$698.42M

18.3% Net Margin

EPS (Diluted)

$1.53

Total Assets

$69.85B

Cash & Equivalents

$1.52B

Free Cash Flow

$245.97M

Financial Statements
Beta
Revenue$3.81B
Operating Expenses$2.69B
Operating Income$1.12B
Interest Expense$346.99M
Net Income$698.42M
EPS (Basic)$1.55
EPS (Diluted)$1.53
Shares Outstanding (Basic)446.53M
Shares Outstanding (Diluted)453.55M

Key Highlights

  • 1Entergy Arkansas's net income increased due to higher volume/weather and retail electric prices, partially offset by increased operating expenses and taxes.
  • 2Entergy Louisiana's net income declined primarily due to lower retail electric prices and higher operational and maintenance expenses.
  • 3Entergy Mississippi's net income surged, aided by $15 million in liquidated damages from a purchased power agreement termination, higher other income, volume/weather, and retail electric prices.
  • 4Entergy New Orleans recorded a net income decrease, significantly impacted by a $12.8 million charge for writing off retained natural gas plant assets.
  • 5Entergy Texas's net income grew, driven by higher retail electric prices and increased customer usage, but was tempered by higher purchased power costs and operational expenses.
  • 6System Energy Resources, Inc. saw a decrease in net income primarily due to a lower rate of return on its rate base.
  • 7Controls and procedures for financial reporting were evaluated and found to be effective, with no material changes identified during the quarter.

Frequently Asked Questions

Entergy Arkansas's net income increased by $6 million primarily due to higher volume/weather and higher retail electric prices. These positive factors were partially offset by a reduction in income tax expense in the prior year due to the resolution of a state income tax audit, as well as higher taxes other than income taxes, increased depreciation and amortization expenses, and higher other operation and maintenance expenses.

Entergy New Orleans recorded a $12.8 million ($9.6 million net-of-tax) charge in the third quarter of 2025 to write off retained natural gas plant assets that were not included in the sale of its natural gas distribution business and will not be recovered. This charge, combined with lower volume/weather, led to a decrease in net income compared to the prior year.

Evaluations of disclosure controls and procedures were performed under the supervision of management, including the Principal Executive Officers and Principal Financial Officers of Entergy Corporation and its subsidiaries. These evaluations concluded that the disclosure controls and procedures are effective in ensuring timely and accurate reporting of required information. Furthermore, no changes in internal control over financial reporting occurred during the quarter ended September 30, 2025, that materially affected, or are reasonably likely to materially affect, such controls.

The sale of Entergy Louisiana's natural gas distribution business on July 1, 2025, resulted in a decrease in operating revenues of $13.3 million for the third quarter of 2025 compared to the prior year, due to the absence of natural gas revenues.