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Entergy (ETR) Q2 Earnings Miss Estimates, Revenues Rise Y/Y

Entergy Corporation ETR reported second-quarter 2021 adjusted earnings of $1.34 per share, which missed the Zacks Consensus Estimate of $1.41 by 5%. Moreover, the reported figure declined 2.2% from $1.37 in the year-ago quarter.

The company reported GAAP loss of 3 cents per share against earnings of $1.79 a year ago.

Total Revenues

Entergy’s second-quarter revenues of $2,822.1 million exceeded the Zacks Consensus Estimate of $2,481.9 million by 13.7%. Further, revenues improved 17% from $2,412.8 million in the year-ago quarter, primarily due to higher Electric revenues.

Entergy Corporation Price, Consensus and EPS Surprise

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

Segment Results

Utility: The segment’s quarterly earnings came in at $1.62 per share compared with $1.71 in the prior-year quarter.

Parent & Other: The segment incurred a loss of 28 cents per share compared with a loss of 34 cents in the prior-year quarter.

Highlights of the Release

Operating expenses in the second quarter were $2.65 billion, up 34.5% from $1.97 billion in the year-ago quarter.

Operating income during the quarter totaled $168.2 million compared with $439.3 million in the year-ago quarter.

Interest expenses were $213.4 million, up 4.3% from $204.7 million in the year-ago quarter.

In the reported quarter, total retail customers served by the company increased 0.9% to 2.97 million.

Financial Highlights

As of Jun 30, 2021, the company had cash and cash equivalents of $686.9 million compared with $1,759.1 million as of Dec 31, 2020.

Long-term debt was $24.2 billion at the end of second-quarter 2021 compared with $21.2 billion as of Dec 31, 2020.

At the end of second-quarter 2021, the company generated cash from operating activities worth $796.1 million compared with cash generated from operating activities of $789.3 million in the prior-year quarter.

Guidance 2021

For 2021, Entergy still expects operational earnings of $5.80-$6.10 per share. The Zacks Consensus Estimate for the company’s earnings is currently pegged at $5.99 per share, which lies above the midpoint of the guided range.

Zacks Rank

Entergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

American Electric Power AEP reported second-quarter 2021 adjusted earnings per share of $1.18, which exceeded the Zacks Consensus Estimate of $1.14 by 3.5%.

NextEra Energy NEE reported second-quarter 2021 adjusted earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 67 cents by 5.6%.

DTE Energy Company DTE reported second-quarter 2021 operating earnings per share (EPS) of $1.70, which beat the Zacks Consensus Estimate of $1.44 by 18.1%.


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