Entergy Reports Second Quarter Earnings
Entergy Corporation (NYSE: ETR) reported second quarter 2020 earnings of $1.79 per share on an as-reported basis and $1.37 per share on an adjusted basis (non-GAAP).
“We delivered another strong quarter and remain on track to achieve our full-year objectives. Sales were better than expected, we’re on pace to achieve our cost savings target for the year, and our capital plan is unchanged. With these results, we are affirming our full-year guidance, our longer-term outlooks, and our dividend growth aspirations,” said Entergy Chairman and Chief Executive Officer Leo Denault. “The COVID-19 pandemic has placed a burden on our customers, employees, and communities, and we continue to support our stakeholders as we all work to recover from its effects. The foundation of our business remains strong and sustainable. We are committed to our strategic, operational, and financial objectives and our resolve to be the premier utility.”
Business highlights included the following:
- Western Region Phase 2 economic transmission project was completed.
- The New Orleans Power Station was placed in service.
- E-LA issued an RFP for up to 300 megawatts of new renewable resources.
- The MPSC approved E-MS’s annual FRP filing.
- E-LA and E-AR each submitted their annual FRP filings.
- The PUCT finalized its generation rider rulemaking.
- In 2019, Entergy provided power to customers at the second-lowest average price in the U.S., according to an S&P Global Market Intelligence study.
- For the fifth consecutive year, Entergy was named to The Civic 50, a Points of Light initiative honoring the 50 most community-minded companies in the U.S.