AddedRisk Factors
Under the Atomic Energy Act and Energy Reorganization Act, the NRC regulates the operation of nuclear power plants. The NRC may modify, suspend, or revoke licenses, shut down a nuclear facility and impose civil
ETREntergy
Entergy’s business is subject to numerous risks and uncertainties that could affect its ability to successfully implement its business strategy and affect its financial results. 10-K, Item 1
- Headquarters
- New Orleans, LA
- Next results
- around Feb 11, 2027
10-K 0000065984-26-000174 (2026-02-19) vs 10-K 0000065984-25-000012 (2025-02-18)
| Section | Compared text | Words now | Changed |
|---|---|---|---|
| Risk Factors | Item 1A | 18,981 | 15.1% |
| MD&A | Item 7 | 58 | not compared |
| Legal Proceedings | Item 3 | 48 | not compared |
| Accounting Policies | 10-K text (note not found) | 0 | not compared |
The redline: what was cut and what was added
In each section, the paragraph that changed most, marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
Risk Factors 239 words changed in this paragraph; it is 66% similar to last year's version.
As with any company, Entergy’s and its Registrant Subsidiaries’ reputations are an important element of their ability to effectively conduct their businesses. Entergy’s and its Registrant Subsidiaries’ reputations could be harmed by a variety of factors, including: failure of a generating asset or supporting infrastructure; failure to restore power after a hurricane or other severe weather event or catastrophe in a manner perceived as timely by regulators or customers; the incurrence of storm restoration costs perceived as excessive by regulators or customers; failure to effectively manage land and other natural resources; failure to obtain land and secure permits for infrastructure investments; failure to execute on and/or obtain regulatory approvals for generation, transmission, or other facilities; real or perceived violations of environmental regulations, including those related to climate change; real or perceived issues surrounding the safety or environmental concerns regarding carbon capture and storage; real or perceived issues concerning the environmental impact of new generation, new large load customers, and potential rate increases resulting from investments relating to serving these customers; real or perceived issues with Entergy’s safety culture; challenges or negative reaction to Entergy’s diversity, inclusion, employee inclusion and belonging efforts, or work culture and workplace environment; challenges or negative reaction to Entergy’s climate goals; goals or aspirations; inability to meet their climate goals, goals or aspirations, including as a result of increased sales growth, or to achieve their human capital strategies, or failure to demonstrate meaningful progress toward such goals or strategies; deterioration in relations with bargaining employees and labor unions representing them; inability to effectively prepare for major storms and other weather events, including accelerated resilience planning and projects and challenges in execution thereof, including obtaining necessary regulatory approvals for scope and timing of such plans and projects; inability to keep their electricity rates stable; inability to provide quality customer service, including timely and accurate billing; involvement in a class-action or other high-profile lawsuit; significant delays in, or termination of, construction projects, including as a result of or in connection with changes in regulation or governmental policy (such as tax and trade policy, including increased tariffs and supply chain challenges) or governmental programs (such as tax incentives or tax credits, loans, grants, guarantees, and other subsidies); occurrence of or responses to cyber attacks, data breaches or physical- or cyber- security vulnerabilities; acts or omissions of Entergy management or acts or omissions of a contractor or other third party working with or for Entergy or its Registrant Subsidiaries, which actually or perceivably reflect negatively on Entergy or its Registrant Subsidiaries; measures taken to offset reductions in demand or to supply rising demand; a significant dispute with one of Entergy’s or its Registrant Subsidiaries’ customers or other stakeholders; or negative political and public sentiment resulting in a significant amount of adverse press coverage and other adverse statements affecting Entergy or its Registrant Subsidiaries.
Source: Item 1A, 10-K 0000065984-26-000174 vs Item 1A, 10-K 0000065984-25-000012
Every change, by type
Sentences and paragraphs of ETR's Risk Factors and MD&A, 10-K 2026-02-19 against 10-K 2025-02-18. Each links to the text at sec.gov.
Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier
(may, could, will, not, significant, material…). A year or date rolling forward is not counted.
The full word list
adverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would
AddedRisk Factors
leverage. Material leverage increases could negatively affect the credit ratings of Entergy, the Utility operating companies, and System Energy, which in turn could negatively affect access to the capital markets.
AddedRisk Factors
customers of the Utility operating companies, and disruption of the operations of Entergy’s subsidiaries, due to, among other things:
AddedRisk Factors
could result in unintended consequences not yet identified that could have a material adverse impact on Entergy’s financial results and future cash flows.
AddedRisk Factors
The above risks are heightened by the number and size of the capital projects that Entergy and the Utility operating companies currently plan to undertake to serve load growth driven primarily by large-scale data centers.
AddedRisk Factors
including the Utility operating companies and System Energy, have incurred and expect to incur significant costs related to environmental compliance. To the extent that any such changes in law or regulation impact data centers or facilities that power data centers, these risks may be heightened by Entergy’s and the Utility operating companies’ increasing reliance on large-scale data center customers for revenue and load growth.
AddedRisk Factors
Entergy and its subsidiaries have in the past, and may in the future, enter into financial arrangements that are subject to variable interest rates and transactions to hedge variable interest rate risk associated with such financing arrangements, such as interest rate swaps, caps or collars. Entergy’s and its subsidiaries’ use of such hedging strategies may not be effective and may adversely affect their business, results of operations, or financial position. Furthermore, no hedging strategy can completely mitigate exposure to variable interest rate risk, and such strategies may limit Entergy’s and its subsidiaries’ ability to participate in the benefits of lower interest rates. Entergy cannot predict the outcome or effectiveness of such hedging strategies to mitigate this risk.
AddedRisk Factors
small number of large-scale data center customers which makes recovery of Entergy’s significant investments in transmission and generation assets to power those new large-scale data centers subject to a significant degree to the success of those customers. The contractual and credit and collateral protections included in the agreements with these customers may prove insufficient to protect Entergy under certain circumstances, such as in the event of a bankruptcy of the customer or a guarantor of its obligations. If any such customer is unable to fulfill its contractual obligations, there is a risk that the associated Utility operating company may not be able to fully recover its investment in and/or a return on those assets or meet its debt obligations.
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RewordedRisk Factors
Entergy’s and its Registrant Subsidiaries’ reputations could be harmed by a variety of factors, including: failure of a generating asset or supporting infrastructure; failure to restore power after a hurricane or other severe weather event or catastrophe in a manner perceived as timely by regulators or customers; the incurrence of storm restoration costs perceived as excessive by regulators or customers; failure to effectively manage land and other natural resources; failure to obtain land and secure permits for infrastructure investments; failure to execute on and/or obtain regulatory approvals for generation, transmission, or other facilities; real or perceived violations of environmental regulations, including those related to climate change; real or perceived issues surrounding the safety or environmental concerns regarding carbon capture and storage; real or perceived issues concerning the environmental impact of new generation, new large load customers, and potential rate increases resulting from investments relating to serving these customers; real or perceived issues with Entergy’s safety culture; challenges or negative reaction to Entergy’s diversity, inclusion, employee inclusion and belonging efforts, or work culture and workplace environment; challenges or negative reaction to Entergy’s climate goals; goals or aspirations; inability to meet their climate goals, goals or aspirations, including as a result of increased sales growth, or to achieve their human capital strategies, or failure to demonstrate meaningful progress toward such goals or strategies; deterioration in relations with bargaining employees and labor unions representing them; inability to effectively prepare for major storms and other weather events, including accelerated resilience planning and projects and challenges in execution thereof, including obtaining necessary regulatory approvals for scope and timing of such plans and projects; inability to keep their electricity rates stable; inability to provide quality customer service, including timely and accurate billing; involvement in a class-action or other high-profile lawsuit; significant delays in, or termination of, construction projects, including as a result of or in connection with changes in regulation or governmental policy (such as tax and trade policy, including increased tariffs and supply chain challenges) or governmental programs (such as tax incentives or tax credits, loans, grants, guarantees, and other subsidies); occurrence of or responses to cyber attacks, data breaches or physical- or cyber- security vulnerabilities; acts or omissions of Entergy management or acts or omissions of a contractor or other third party working with or for Entergy or its Registrant Subsidiaries, which actually or perceivably reflect negatively on Entergy or its Registrant Subsidiaries; measures taken to offset reductions in demand or to supply rising demand; a significant dispute with one of Entergy’s or its Registrant Subsidiaries’ customers or other stakeholders; or negative political and public sentiment resulting in a significant amount of adverse press coverage and other adverse statements affecting Entergy or its Registrant Subsidiaries.
RewordedRisk Factors
In addition, the retail regulatory treatment of the expanded tax credits and corporate alternative minimum tax included in the Inflation Reduction Act of 2022, the limitation of the use of certain tax credits in the One Big Beautiful Bill Act of 2025, or any other changes to or repeal additional scaling back of such tax credits, could materially impact Entergy’s future cash flows, and this legislation and pending interpretive guidance could result in unintended consequences not yet identified that could have a material adverse impact on Entergy’s financial results and future cash flows.
RewordedRisk Factors
RewordedRisk Factors
Certain factors, such as an aging workforce, mismatching of skill sets for current and future needs, failing to appropriately anticipate future workforce needs, workforce impacts from public health concerns, challenges competing with other employers offering fully remote or more flexible work options, increased demand for skilled labor and challenging labor markets, particularly in rural areas where certain large-scale data centers and other large customers plan to be located, rising salary and other labor costs, unavailability of contract resources, and labor disputes disputes, work disruptions, and work disruptions increased labor organizing activity may lead to operating challenges and increased costs.
RewordedRisk Factors
RewordedRisk Factors
RewordedRisk Factors
The ability of such subsidiaries to make payments of dividends or distributions to Entergy Corporation depends on their results of operations and cash flows and other items affecting retained earnings, and on any applicable legal, regulatory, or contractual limitations on subsidiaries’ ability to pay such dividends or distributions. distributions, which may be more stressed if certain Utility operating companies incur a significant level of additional debt to finance the infrastructure investments to serve large-scale data centers.
RewordedRisk Factors
Others, such as the organic turnover of appliances and lighting and their replacement with more efficient ones and adoption of newer technologies, including smart thermostats, new building codes, distributed energy resources, energy storage, demand side management, and rooftop solar, are having a more permanent effect by reducing sales growth rates from historical norms.
RewordedRisk Factors
RewordedRisk Factors
Certain accelerated resilience plans of the Utility operating companies have received regulatory approval for a limited scope and duration, generally at levels less than those proposed to the regulators. regulators; however, the Utility operating companies continue to work with their regulators to establish the appropriate scope and timing of resilience investment balanced against other customer needs.
RewordedRisk Factors
In the event a customer terminates or does not renew its electric service agreement, the Utility operating companies are also subject to the risk that they may not be able to enter into new services agreements agreements, timely or at all, with new customers one or that more comparable revenue-generating customers, and the terms of any new agreements may be less favorable to the Utility operating companies.
RewordedRisk Factors
For further information regarding spent fuel storage, see the “Critical Accounting Estimates – Nuclear Decommissioning Costs – Spent Fuel Disposal” section of Management’s Financial Discussion and Analysis for Entergy, Entergy Arkansas, Entergy Louisiana, and System Energy and Note 8 to the financial statements.
Quiet changesRisk Factors
Subject to any pending regulatory approvals, certain Utility operating companies are making or are planning to make significant infrastructure investments in new solar projects, natural gas power plants, and other transmission and generation assets to power new large-scale data centers.
Quiet changesRisk Factors
Similarly, increased load growth and the natural gas generation required to meet that increased demand could is expected to result in an increase in Entergy’s absolute greenhouse gas emissions.
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