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Entergy (ETR) Q4 Earnings Beat Estimates, Revenues Rise Y/Y

Entergy Corporation ETR reported fourth-quarter 2021 adjusted earnings of 76 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 8.6%. The reported figure also increased 7% from 71 cents per share in the year-ago quarter.

Entergy reported GAAP earnings of $1.28 per share compared with $1.93 a year ago.

Entergy reported adjusted earnings per share (EPS) of $6.02 for full-year 2021, which increased 6.4% from $5.66 reported in 2020 and also beat the Zacks Consensus Estimate of $5.98 by 0.7%.

Total Revenues

Entergy’s fourth-quarter revenues of $2.72 billion exceeded the Zacks Consensus Estimate of $2.45 billion by 11%. Further, revenues increased 14.8% from $2.37 billion in the year-ago quarter due to higher Electric and Natural gas revenues.

In 2021, ETR generated sales worth $11.74 billion, up 16.1% from the year-ago figure. Sales beat the Zacks Consensus Estimate of $11.50 billion by 2.1%.

Entergy Corporation Price, Consensus and EPS Surprise

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

Segment Results

Utility:The segment’s adjusted quarterly earnings came in at $1.09 per share compared with $1.03 in the prior-year quarter.

Parent & Other:The segment incurred a loss of 33 cents per share compared with a loss of 32 cents in the prior-year quarter.

Highlights of the Release

Operating expenses in the fourth quarter were $2.38 billion, up 7.2% from $2.22 billion in the year-ago quarter.

Operating income during the quarter totaled $341.6 million up a whopping 124.6% from $152.1 million in the year-ago quarter.

Interest expenses were $220.9 million, up 6.3% from $207.8 million in the year-ago quarter.

As of Dec 31, 2021, total retail customers served by the company increased 1% to 2.98 million.

Financial Highlights

As of Dec 31, 2021, Entergy had cash and cash equivalents of $442.6 million compared with $1,759.1 million as of Dec 31, 2020.

Long-term debt was $24.84 billion as of Dec 31, 2021 compared with $21.21 billion as of Dec 31, 2020.

In 2021, the company generated cash from operating activities of $2,300.7 million compared with cash generated from operating activities of $2,689.9 million in 2020.

Guidance for 2022

For 2022, Entergy currently expects to generate adjusted earnings in the range of $6.15-$6.45. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $6.33 per share, which is higher than $6.30, the midpoint of the guided range.

Zacks Rank

Entergy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

CenterPoint Energy, Inc. CNP reported fourth-quarter 2021 adjusted earnings of 36 cents per share, which surpassed the Zacks Consensus Estimate of 31 cents by 13.9%. The bottom line also improved 24.1% from the year-ago quarter’s figure.

The Zacks Consensus Estimate for CenterPoint Energy’s 2022 earnings is pegged at $1.50 per share, which implies year-over-year growth of 7.1%. CNP boasts a long-term (three to five years) earnings growth rate of 4.7%.

DTE Energy Company DTE reported fourth-quarter 2021 operating EPS of $1.05, which surpassed the Zacks Consensus Estimate of 94 cents by 11.7%. The bottom line also increased 1.9% from the year-ago quarter’s $1.03 per share.

The Zacks Consensus Estimate for DTE Energy’s 2022 earnings is pegged at $5.94 per share, which implies a year-over-year decline of 0.8%. DTE boasts a long-term earnings growth rate of 6%.

PG&E Corporation PCG reported adjusted operating EPS of 28 cents for the fourth quarter of 2021, which matched the Zacks Consensus Estimate. The bottom line increased 33.3% from the year-ago quarter’s reported figure.

The Zacks Consensus Estimate for PG&E Corporation’s 2022 earnings is pegged at $1.09 per share, which implies a year-over-year decline of 0.9%. PCG boasts a long-term earnings growth rate of 2.5%.


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