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Entergy Corporation

Q2 FY26Electric Utilities

Entergy Corporation Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹110

Market cap₹50.2K Cr

P/E28.6

Updated29 May 2026

Read4 min read

What the Q2 FY26 call signalled

3 of 5 strong

RevenueModerate growth

MarginMargins steady

CapexCapex planned

FundraiseFundraise planned

Order bookOrder book rising

The short version

- The company expects strong sales growth, particularly from industrial customers, with a notable 15% industrial sales growth reported in Q1, exceeding the 10% guidance for the year. - Entergy updates its adjusted EPS outlook, increasing from prior guidance due to strong retail sales growth, now expected at approximately 8.5% compound annual growth through 2029.

From Entergy Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Moderate growth

The company expects strong sales growth, particularly from industrial customers, with a notable 15% industrial sales growth reported in Q1, exceeding the 10% guidance for the year.
Despite the strong start, full-year growth expectations remain consistent with earlier guidance, as volumes may fluctuate but are supported by minimum bills and contract structures.
Long-term growth outlook includes continued ramp-up of large customers like Meta, with significant volumes expected as new assets like CCCTs come online in 2030-2031.

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Profitability & Margins

Entergy updates its adjusted EPS outlook, increasing from prior guidance due to strong retail sales growth, now expected at approximately 8.5% compound annual growth through 2029.
Industrial sales growth is significant, forecasted at 16%, driven by large data centers and traditional Gulf South industries.
Earnings per share increases ratably, with a $0.20 uplift in 2027 and $0.50 in 2029, reaching $6.40 in 2029.
Year-over-year adjusted EPS growth between 2028 and 2029 is expected at 12%, with similar growth anticipated for 2030.
The company continues to affirm its 2026 adjusted EPS guidance, expecting to deliver on it confidently.

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Capital Expenditure Plans

Capex planned

Increased capital plan by $14 billion to about $57 billion due to a new customer agreement (Meta), primarily for 7 new combined cycle combustion turbines (CCCTs) and Battery Storage projects with in-service dates in 2030-2031.
Transmission investments related to these projects are not yet included in the plan as financing options are being worked through.
Additional renewables and River Bend nuclear upgrade investments are expected but not yet firm or included in the current plan.
Beyond the 4-year plan, there is potential for further capital related to renewables and nuclear.
Capital associated with the Meta agreement includes approximately $15 billion, with additional investments outside the 4-year horizon.
Investment in incremental solar (2,500 MW for Meta agreement and 1,500 MW in a previous agreement) and battery projects.

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Fundraising & Capital Structure

Entergy's equity associated with the 4-year capital plan is $6.6 billion, targeting 10% to 15% of total capital.
They have proactively contracted about 30% of their 4-year equity needs, with $1.9 billion already contracted, leaving $4.7 billion to be sourced.
Additional equity funding is not expected until late 2027 through 2029; no urgent need for equity until 2027.
The company has successfully used forward contracts and ATM programs, including a block transaction last March, to manage equity needs.
The plan includes $3 billion of hybrid instruments at the parent level.

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Order Book & Pipeline

Order book rising

The company maintains a strong pipeline of 7 to 12 gigawatts of data center projects outside of the current plan, indicating ongoing strong demand.
The recent Meta agreement has moved from the pipeline into the formal plan, reducing the backlog accordingly.
Additional gigawatts continue to move through the pipeline, with new agreements signed, keeping the backlog refreshed.
There is approximately 1,000 megawatts of industrial customer interest in various stages, moving toward finalized agreements.
The company is actively securing equipment and working on RFPs to support this backlog.

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Others in Electric Utilities this season

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Frequently Asked Questions

What were Entergy Corporation Q2 FY26 results?

- The company expects strong sales growth, particularly from industrial customers, with a notable 15% industrial sales growth reported in Q1, exceeding the 10% guidance for the year. - Entergy updates its adjusted EPS outlook, increasing from prior guidance due to strong retail sales growth, now expected at approximately 8.5% compound annual growth through 2029.

What is Entergy Corporation share price analysis?

Entergy Corporation currently shows a below-average growth signal. The stock trades at a P/E of 28.6 with a market cap of $50,194. Investors should review the full earnings analysis for detailed insights.

Is Entergy Corporation planning capital expenditure?

- Increased capital plan by $14 billion to about $57 billion due to a new customer agreement (Meta), primarily for 7 new combined cycle combustion turbines (CCCTs) and Battery Storage projects with in-service dates in 2030-2031.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.