Entergy reports third quarter 2026 financial results
NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported third quarter 2026 earnings per share of $1.98 on an as-reported and an adjusted (non-GAAP) basis.
“We made very strong progress this quarter across customer, operational, regulatory, and financial aspects of our business,” said Drew Marsh, Entergy Chair and Chief Executive Officer. “We have clear line of sight to deliver on our near- and long-term objectives, and we are well positioned to execute on additional opportunities driven by customer needs.”
• Orange County Advanced Power Station is operational and delivering power to Entergy Texas customers.
• The LPSC approved Entergy Louisiana’s $1.2 billion Babel to Webre transmission project.
• Entergy Louisiana reached a settlement with the LPSC Staff in its Evest filing.
• Entergy Louisiana filed its application for additional Future Ready resilience plan investment.
• Entergy Mississippi filed an application to securitize costs associated with Winter Storm Fern.
• The U.S. Department of Energy awarded $14 million in grants to Entergy utility companies to strengthen grid reliability.
• Entergy’s Board of Directors declared a quarterly dividend of 68 cents per share, a six percent increase.
• Entergy received its 52 nd EEI emergency response award for restoration efforts following Winter Storm Fern.
• Site Selection magazine named Entergy a top utility in economic development for the 19 th consecutive year.
Table of contents Page News release 1 Table of appendices and financial statements 6 A: Consolidated results and adjustments 7 B: Earnings variance analysis 10 C: Utility operating and financial measures 13 D: Consolidated financial measures 14 E: Definitions and abbreviations and acronyms 15 F: Other GAAP to non-GAAP reconciliations 17 Financial statements 19
Consolida… earnings (GAAP and non-GAAP measures) Third quarter and year-to-d… 2026 vs. 2025(See Appendix A for reconcili… of GAAP to non-GAAP measures and details on adjustmen… Third Year-to-da… quarter 2026 2025 Change 2026 2025 Change (After-ta… $ in millions) As-report… 940 694 247 1,808 1,522 285 earnings Less - - - -14 - -14 adjustmen… Adjusted earnings 940 694 247 1,821 1,522 299 (non-GAAP) Estimated weather 116 28 88 108 88 21 impact (After-ta… per share in $) As-report… 1.98 1.53 0.45 3.86 3.40 0.46 earnings Less - - - -0.03 - -0.03 adjustmen… Adjusted earnings 1.98 1.53 0.45 3.89 3.40 0.49 (non-GAAP) Estimated weather 0.24 0.06 0.18 0.23 0.20 0.03 impact
For third quarter 2026, the company reported earnings of $940 million, or $1.98 per share, on an as-reported and an adjusted basis. This compared to third quarter 2025 earnings of $694 million, or $1.53 per share, on an as-reported and an adjusted basis.
Summary discussions of results by business follow. Additional details, including information on operating cash flow by business, are provided in Appendix A. Appendix B provides a more detailed analysis of earnings per share variances by business.
For third quarter 2026, the Utility business reported earnings attributable to Entergy Corporation of $1,079 million, or $2.28 per share, on an as-reported and an adjusted basis. This compared to third quarter 2025 earnings of $810 million, or $1.79 per share, on an as-reported and an adjusted basis.
• return on construction work in progress for certain utility plant investments;
These drivers were partially offset by higher interest expense, other O&M, and depreciation and amortization.
On a per share basis, third quarter 2026 results reflected higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in 2025 and 2026.
Appendix C contains additional details on Utility operating and financial measures.
For third quarter 2026, Parent & Other reported a loss attributable to Entergy Corporation of $(139 million), or (29) cents per share, on an as-reported and an adjusted basis. This compared to a third quarter 2025 loss of $(117 million), or (26) cents per share, on an as-reported and an adjusted basis. (more) Entergy reports third quarter 2026 financial results Nov. 2, 2026
The primary driver for the quarter-over-quarter change was higher interest expense.
On a per share basis, third quarter 2026 results reflected higher diluted average number of common shares outstanding (see details in Utility section).
Entergy narrowed its 2026 adjusted earnings per share guidance to a range of $4.35 to $4.45. See the earnings call presentation for additional details.
The company has provided 2026 earnings guidance with regard to the non-GAAP measure of adjusted earnings per share. This measure excludes from the corresponding GAAP financial measure the effect of adjustments as described in the “Non-GAAP financial measures” section. The company has not provided a reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis because it cannot predict and quantify with a reasonable degree of confidence all of the adjustments that may occur during the period. Potential adjustments include, among other things, certain significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses.
A teleconference will be held at 10:00 a.m. Central Time on Monday, Nov. 2, 2026, to discuss Entergy’s quarterly earnings announcement and the company’s financial performance. The teleconference may be accessed by visiting Entergy’s website at investors.entergy.com/investors/events-and-presentations or by dialing 888-440-4149, conference ID 9024832, no more than 15 minutes prior to the start of the call. The earnings call presentation is also being posted to Entergy’s website concurrent with this news release. A replay of the teleconference will be available on Entergy’s website at investors.entergy.com/investors/events-and-presentations and by telephone. The telephone replay will be available through Nov. 9, 2026, by dialing 800-770-2030, conference ID 9024832.
Entergy (NYSE: ETR) generates, transmits and distributes electricity to power life for more than 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re focused on keeping costs for our customers as low as possible while providing reliable energy that our communities count on. We’re also investing in growth for the future with a more resilient, cleaner energy system that includes modern natural gas, nuclear and renewable energy generation. As a nationally recognized leader in sustainability and corporate citizenship, we deliver more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. Learn more at Entergy.com and connect with @Entergy on social media.
Entergy Corporation’s common stock is listed on the New York Stock Exchange and NYSE Texas under the symbol “ETR”.
Details regarding Entergy’s results of operations, regulatory proceedings, and other matters are available in this earnings release, a copy of which will be filed with the SEC, and the earnings call presentation. Both documents are available on Entergy’s Investor Relations website at investors.entergy.com/investors/events-and-presentations .
Entergy maintains a web page as part of its Investor Relations website entitled Regulatory and other information , which provides investors with key updates on certain regulatory proceedings and important (more) Entergy reports third quarter 2026 financial results Nov. 2, 2026
milestones on the execution of its strategy. While some of this information may be considered material information, investors should not rely exclusively on this page for all relevant company information.
For definitions of certain operating measures, as well as GAAP and non-GAAP financial measures and abbreviations and acronyms used in the earnings release materials, see Appendix E.
This news release contains non-GAAP financial measures, which are generally numerical measures of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Entergy has provided quantitative reconciliations within this news release of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
Entergy reports earnings using the non-GAAP measure of adjusted earnings, which excludes the effect of certain “adjustments”. Adjustments are unusual or non- recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses. In addition to reporting GAAP earnings on a per share basis, Entergy reports its adjusted earnings on a per share basis. These per share measures represent the applicable earnings amount divided by the diluted average number of common shares outstanding for the period.
Management uses the non-GAAP financial measures of adjusted earnings and adjusted earnings per share for, among other things, financial planning and analysis; reporting financial results to the board of directors, employees, owners, and analysts; and internal evaluation of financial performance. Entergy believes that these non-GAAP financial measures provide useful information to investors in evaluating the ongoing results of Entergy’s business, comparing period to period results, and comparing Entergy’s financial performance to the financial performance of other companies in the utility sector.
Other non-GAAP measures, including adjusted ROE, adjusted ROE excluding affiliate preferred, FFO to adjusted debt, gross liquidity, net liquidity, adjusted Parent debt to total adjusted debt, adjusted debt to adjusted capitalization, and adjusted net debt to adjusted net capitalization are measures Entergy uses internally for management and board of directors discussions and to gauge the overall strength of its business. Entergy believes the above data provides useful information to investors in evaluating Entergy’s ongoing financial results and flexibility and assists investors in comparing Entergy’s credit and liquidity to the credit and liquidity of others in the utility sector. These metrics are defined in Appendix E.
These non-GAAP financial measures reflect an additional way of viewing aspects of Entergy’s operations that, when viewed with Entergy’s GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Entergy’s business. These non-GAAP financial measures should not be used to the exclusion of GAAP financial measures. Investors are strongly encouraged to review Entergy’s consolidated financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Although certain of these measures are intended to assist investors in comparing Entergy’s performance to other companies in the utility sector, non-GAAP financial measures are not standardized; therefore, it might not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. (more) Entergy reports third quarter 2026 financial results Nov. 2, 2026
Page 5 Cautionary note regarding forward-looking statements This news release contains certain “forward-looking statements” within the meaning of federal securities laws that are subject to risks and uncertainties. Such statements include, among other things, statements regarding Entergy’s adjusted earnings per share guidance and outlooks; the company’s capital plan; retail and industrial sales growth outlooks; other financial and operational outlooks; and other statements of Entergy’s plans, beliefs, or expectations within this news release. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K and any subsequent public filings with the Securities and Exchange Commission; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with (1) realizing the benefits of its resilience plan, including impacts of the frequency and intensity of future storms and storm paths, as well as the pace of project completion and (2) efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including (1) strategic transactions that Entergy or its subsidiaries may undertake and the risks that any such transaction may not be completed as and when expected or the anticipated benefits may not be realized, and (2) Entergy’s ability to meet the rapidly growing demand for electricity, including from large-scale data centers and other large customers, and to manage the impacts of such growth on customers and its business, or the risk that contracted or expected load growth does not materialize or is not sustained; (h) risks and uncertainties associated with the resolution of pending or future applications, regulatory proceedings, litigation or governmental official actions relating to generation, transmission, or other facilities and the effect of related public and political opposition, including, in each case, those relating to any facilities designed to serve large-scale data centers; (i) direct and indirect impacts to Entergy or its customers from pandemics, terrorist attacks, geopolitical conflicts, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy’s business or operations, and/or other catastrophic events; and (j) effects on Entergy or its customers of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, such as changes in monetary, fiscal, trade, tax, environmental, or energy (including, among other things, data center energy use, efficiency standards, and sources of power) policies, as well as changes in utility regulations, including those relating to new projects designed to serve the increased load growth of large-scale data centers and other large customers; (2) changes in commodity markets, capital markets, or economic conditions; and (3) technological change, including the costs, pace of development, and commercialization of new and emerging technologies. -30-
Investor inquiries: Media inquiries: Liz Hunter Neal Kirby 504-576-3294 504-576-4238 ehunte1@entergy.com nkirby@entergy.com
Appendix A-1 provides a comparative summary of consolidated earnings, including a reconciliation of as-reported earnings (GAAP) to adjusted earnings (non-GAAP).
(a) Per share amounts are calculated by dividing the earnings (loss) by the corresponding diluted average number of common shares outstanding for the period.
See Appendix B for detailed earnings variance analysis. 7 Appendix A-2 and Appendix A-3 detail adjustments by business. Adjustments are included in as-reported earnings consistent with GAAP but are excluded from adjusted earnings. As a result, adjusted earnings is considered a non-GAAP measure.
Appendix A-2: Adjustmen… by driver (shown as positive/ (negative) impact on earnings or EPS) Third quarter and year-to-d… 2026 vs. 2025 Third Year-to-da… quarter 2026 2025 Change 2026 2025 Change (Pre-tax except for income tax effect and totals; $ in millions) Parent & Other 1Q26 impairment related to the sale of a non-utili… - - - -18 - -18 business interest in Independe… power plant Income tax effect on Parent & - - - 4 - 4 Other adjustment above Total Parent and - - - -14 - -14 Other Total - - - -14 - -14 adjustmen… (After-ta… per share in $) (b) Parent & Other 1Q26 impairment related to the sale of a non-utili… - - - -0.03 - -0.03 business interest in Independe… power plant Total Parent & - - - -0.03 - -0.03 Other Total - - - -0.03 - -0.03 adjustmen…
(b) Per share amounts are calculated by multiplying the earnings (loss) by the income tax rate that is expected to apply and dividing by the corresponding diluted average number of common shares outstanding for the period.
Appendix A-3: Adjustmen… by income statement line item (shown as positive/ (negative) impact on earnings) Third quarter and year-to-d… 2026 vs. 2025 (Pre-tax except for income taxes and totals; $ in millions) Third Year-to-da… quarter 2026 2025 Change 2026 2025 Change Parent & Other Asset write-off… impairmen… - - - -18 - -18 and related charges Income - - - 4 - 4 taxes Total Parent & - - - -14 - -14 Other Total - - - -14 - -14 adjustmen…
Calculations may differ due to rounding 8 Appendix A-4 provides a comparative summary of OCF by business.
Year to date OCF increased primarily due to higher receipts of advance payments related to customer agreements and higher collections from Utility customers. These increases were partially offset by higher fuel and purchased power payments, lower proceeds from the transfer of production tax credits, the timing of payments to vendors, higher ad valorem tax payments partly due to the timing of payments, and higher interest payments. 9
Appendix B-1 and Appendix B-2 provide details of current quarter and year-to- date 2026 versus 2025 as-reported and adjusted earnings per share variances.
Calculations may differ due to rounding 10 (c) Utility operating revenue and Utility income taxes – other variances exclude the following for the return/collection of excess/deficient unprotected ADIT (net effect was neutral to earnings) ($ in millions):
3Q26 3Q25 YTD26 YTD25 Utility operating revenue -11 -8 -39 -14 Utility income taxes – other 11 8 39 14
(d) EPS effects of individual income statement line item variances are calculated by multiplying the pre-tax amount by the income tax rate that is expected to apply and dividing by diluted average number of common shares outstanding for the prior period. Income taxes – other represents income tax differences other than the income tax effect of individual line-item variances. Share effect captures the per share impact from the change in diluted average number of common shares outstanding.
(e) The third quarter and year-to-date earnings increases reflected higher electric volume including the effects of weather and the effect of rate actions including: E-AR’s FRP, E-AR’s Generating Arkansas Jobs Act rider, E-LA’s FRP (including FRP riders), E-LA’s RPCR, E-MS’s FRP interim facilities rate adjustment, E-TX’s TCRF, and E-TX’s DCRF. Higher revenue related to the amortization of customer advances designed to provide a return on CWIP for certain utility plant investments, which is recognized as costs are incurred, contributed to the increases. The increases also reflected higher revenues associated with Grand Gulf primarily due to higher other O&M and higher return on rate base as well as higher miscellaneous revenue primarily due to higher pole attachment revenues. The increases were partially offset by the receipt of liquidated damages at E-MS in third quarter 2025 which resulted from a counterparty’s termination of a purchased power agreement. The year-to-date results also reflected the effects of E-MS’s grid modernization rider, and the sale of the natural gas LDC businesses in July 2025. Changes in regulatory provisions for decommissioning items were also a driver (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral).
Utility as-reported operating revenue less fuel, fuel-related expenses and gas purchased for resale; purchased power; and other regulatory charges (credits) – net variance analysis2026 vs. 2025 ($ EPS) 3Q YTD Electric volume / weather 0.33 0.36 Retail electric price 0.33 0.65 Return on CWIP for certain utility plant 0.09 0.21 investments Grand Gulf recovery 0.02 0.02 Miscellaneous revenue 0.02 0.06 E-MS 3Q25 PPA termination proceeds -0.02 -0.03 E-TX capacity costs net of recovery -0.01 0.01 Sale of natural gas LDCs - -0.11 Reg. provisions for decommissioning - -0.36 items Other - 0.03 Total 0.76 0.84
(f) The third quarter earnings decrease from higher Utility other O&M was primarily due to higher power delivery expenses driven by an increase in vegetation maintenance costs and higher power generation expenses largely due to a higher scope of work performed in 2026 as compared to 2025, including during plant outages. The year-to-date earnings decrease from higher Utility other O&M reflected higher power delivery expenses primarily due to increased vegetation maintenance costs as well as an increase in compensation and benefits costs mainly due to higher healthcare claims, the timing of recognition of prescription drug rebates, and revisions to estimated incentive-based compensation expense. The year-to-date decrease was partially offset by higher nuclear insurance refunds, lower gas operations expenses resulting from the sale of natural gas LDC businesses, and lower loss provisions and bad debt expense. The third quarter and year-to-date decreases also reflected a gain from the sale of natural gas LDC businesses as well as various project write-offs in third quarter 2025.
(g) The third quarter and year-to-date earnings decreases from higher Utility depreciation and amortization were primarily due to higher plant in service. The decreases also reflected higher FERC jurisdictional depreciation rates at E-AR and E -LA effective Jan. 2026, and increases in E-LA’s nuclear depreciation rates effective Sept. 2025 and Sept. 2026.
(h) The third quarter and year-to-date earnings increases from higher Utility other income (deductions) reflected higher amortization of tax gross ups on customer advances, higher external interest income, and higher AFUDC–equity due to higher construction work in progress. The year-to-date increase was partially offset by a true-up of E-LA’s MISO cost recovery mechanism in second quarter 2025 as well as lower intercompany dividend income from affiliate preferred membership interest related to storm cost securitizations (intercompany dividend income largely offset at P&O). The year- 11 to-date variance included changes in nuclear decommissioning trust returns (based on regulatory treatment, decommissioning-related variances are offset in other line items and are largely earnings neutral).
(i) The third quarter and year-to-date earnings decreases from higher Utility interest expense were primarily due to higher debt balances, higher average interest rates, and higher carrying costs on customer advances. The decreases also reflected 2026 carrying costs on retained proceeds from the monetization of production tax credits.
(j) The third quarter and year-to-date earnings decreases from higher Parent & Other interest expense were primarily due to the issuance of $1.3 billion and $1.5 billion of junior subordinated debentures in Nov. 2025 and Aug. 2026, respectively.
(k) The third quarter and year-to-date earnings per share decreases from share effect were due to higher diluted average number of common shares outstanding primarily due to the settlement of equity forwards in Oct. 2025, Feb. 2026, June 2026, and Sept. 2026.
(l) The year-to-date as-reported earnings decrease from higher Parent & Other asset write-offs, impairments, and related charges was due to a first quarter 2026 $(18 million) ($(14 million) after tax) non-cash impairment related to the sale of a non-utility business interest in the Independence power plant (considered an adjustment and excluded from adjusted earnings).
(m) The year-to-date earnings decrease from higher Utility taxes other than income taxes was primarily due to increases in ad valorem taxes resulting from higher assessments.
(n) The year-to-date earnings increase from higher Parent & Other other income (deductions) was primarily due to lower intercompany dividends on affiliated preferred membership interest related to storm cost securitization (largely offset at Utility).
(o) The year-to-date earnings increase from lower Utility income taxes – other was primarily due to tax benefits associated with the exercise of stock-based compensation in first quarter 2026. 12
Calculations may differ due to rounding (p) The effects of weather were estimated using hourly heating degree days and cooling degree days for the period from various locations and comparing to a “normal” temperature range for each jurisdiction based on 20-year historical data. The models used to estimate weather are updated periodically and are subject to change.
Appendix D provides comparative financial measures. Financial measures in this table include those calculated and presented in accordance with GAAP, as well as those that are considered non-GAAP financial measures.
Appendix D: GAAP and non-GAAP financial measures 2026 vs. 2025(See Appendix F for reconciliation of GAAP to non-GAAP financial measures) For 12 months ending Sept. 30 2026 2025 Change GAAP measure As-reported ROE 11.2% 11.4% (0.2)% Non-GAAP financial measure Adjusted ROE 11.3% 11.4% (0.2)% As of Sept. 30 ($ in millions, except 2026 2025 Change where noted) GAAP measures Cash and cash equivalents 4,205 1,517 2,688 Available revolver capacity 4,346 4,346 - Commercial paper 105 1,398 -1,293 Total debt 34,936 30,563 4,373 Junior subordinated debentures 4,000 1,200 2,800 Securitization debt 213 231 -18 Total debt to total capital 63% 64% (1)% Storm escrows 317 307 10 Non-GAAP financial measures ($ in millions, except where noted) FFO to adjusted debt 16.8% 16.8% - Adjusted debt to adjusted capitalization 60% 63% (3)% Adjusted net debt to adjusted net 56% 62% (5)% capitalization Gross liquidity 8,551 5,863 2,688 Net liquidity 10,907 7,846 3,061 Adjusted Parent debt to total adjusted 14% 18% (4)% debt Build-to-suit lease agreement (q) 1,450 - 1,450
Calculations may differ due to rounding (q) Maximum counterparty commitment; see Form 10-K for the fiscal year ended Dec. 2025 for additional details. 14
Appendix E-1 provides definitions of certain operating measures as well as GAAP and non-GAAP financial measures.
Appendix E-1: Definitions Utility operating and financial measures Number of electric retail customers Average number of electric customers over the period Other O&M and refueling outage Other operation and maintenance expense expense plus nuclear refueling per MWh outage expense per MWh of total sales Financial measures – GAAP Last twelve months net income As-reported ROE attributable to Entergy Corp. divided by average common equity Amount of undrawn capacity remaining Available revolver capacity on corporate and subsidiary revolvers Debt on the balance sheet associated Securitization debt with securitization bonds that is secured by certain future customer collections Sum of total debt, subsidiaries’ preferred stock without sinking Total capitalization fund, total equity, and subsidiaries’ preferred stock without sinking fund and noncontrolling interests Sum of currently maturing long-term Total debt debt, long-term debt, notes payable and commercial paper, and finance lease obligations Total debt to total capitalization Total debt divided by total capitalization Financial measures – non-GAAP Adjusted capitalization Total capitalization excluding securitization debt Total debt excluding securitization Adjusted debt debt and 50% of junior subordinated debentures Adjusted debt to adjusted Adjusted debt divided by adjusted capitalization capitalization Adjusted earnings (loss) As-reported earnings (loss) minus adjustments Adjusted earnings (loss) divided by Adjusted EPS the diluted average number of common shares outstanding Adjusted net capitalization Adjusted capitalization minus cash and cash equivalents Adjusted net debt Adjusted debt minus cash and cash equivalents Adjusted net debt to adjusted net Adjusted net debt divided by capitalization adjusted net capitalization Entergy Corp. debt, including amounts drawn on credit revolver and Adjusted Parent debt commercial paper facilities plus unamortized debt issuance costs and discounts minus 50% of junior subordinated debentures Adjusted Parent debt to total Adjusted Parent debt divided by adjusted consolidated adjusted debt debt Adjusted ROE Last twelve months adjusted earnings divided by average common equity Last twelve months adjusted earnings, excluding dividend income from affiliate preferred as well as Adjusted ROE excluding affiliate the after-tax cost of debt financing preferred for preferred investment, divided by average common equity adjusted to exclude the estimated equity associated with the affiliate preferred investment Unusual or non-recurring items or events or other items or events that management believes do not reflect the ongoing business of Entergy, Adjustments such as significant income tax items, certain items recorded as a result of regulatory settlements or decisions, and certain unusual costs or expenses Last twelve months OCF minus preferred dividend requirements of subsidiaries, working capital items in OCF (receivables, fuel inventory, accounts payable, taxes accrued, FFO interest accrued, deferred fuel costs, customer advances – current, and other working capital accounts), 50% of interest on junior subordinated debentures, and securitization regulatory charges FFO to adjusted debt Last twelve months FFO divided by end of period adjusted debt Gross liquidity Sum of cash and cash equivalents plus available revolver capacity Sum of gross liquidity, escrow accounts available for certain storm Net liquidity expenses, and equity sold forward but not yet settled minus commercial paper
15 Appendix E-2 explains abbreviations and acronyms used in the quarterly earnings materials.
Appendix E-2: Abbreviations and acronyms Louisiana Public Additional Capacity Service Commission Mechanism Last twelve months Accumulated MISO Cost Recovery deferred income Mechanism taxes Midcontinent Allowance for funds Independent System used during Operator, Inc. construction Moody’s Ratings Arkansas Public Mississippi Public Service Commission Service Commission Battery and energy Nuclear storage system decommissioning Compound annual trust growth rate New York Stock Combined cycle Exchange ACM combustion turbine Operation and ADIT Council of the City maintenance AFUDC of New Orleans LPSC Orange County APSC Cash from LTM Advanced Power BESS operations MCRM Station (CCCT) CAGR Commercial MISO Net cash flow CCCT operation date Moody’s provided by CCNO Combustion turbine MPSC operating CFO Construction work NDT activities COD in progress NYSE Utility operating CT Distribution Cost O&M company CWIP Recovery Factor OCAPS Other operation DCRF Distribution OCF and maintenance DRM Recovery Mechanism OpCo expense E-AR Entergy Arkansas, Other O&M Parent & Other E-LA LLC P&O Performance E-MS Entergy Louisiana, PMR Management Rider E-NO LLC PPA Power purchase E-TX Entergy PUCT agreement or EEI Mississippi, LLC RECs purchased power EPS Entergy New RSHCR agreement ETR Orleans, LLC ROE Public Utility FERC Entergy Texas, Inc. RPCR Commission of FFO Edison Electric S&P Texas FRP Institute SEC Renewable energy GAAP Earnings per share SERI certificates GCRR Entergy Corporation TAM Resilience and GGO Federal Energy TCRF Storm Hardening Grand Gulf or Regulatory TRM Cost Recovery GGNS Commission VMR Return on equity Independence Funds from WACC Resilience Plan LDC operations Cost Recovery Formula rate plan Rider U.S. generally Standard & Poor’s accepted accounting U.S. Securities principles and Exchange Generation Cost Commission Recovery Rider System Energy Geaux Green Option Resources, Inc. Unit 1 of Grand Tax Adjustment Gulf Nuclear Mechanism Station (nuclear), Transmission Cost 90% owned or leased Recovery Factor by SERI Transmission Independence Steam Recovery Mechanism Electric Station Vegetation Local distribution management rider company Weighted average cost of capital
Appendix F-1, Appendix F-2, and Appendix F-3 provide reconciliations of various non-GAAP financial measures disclosed in this news release to their most comparable GAAP measure.
Appendix F-1: Reconciliation of GAAP to non-GAAP financial measures – ROE (LTM $ in millions except where Third quarter noted) 2026 2025 As-reported net income attributable to -A 2,044 1,809 Entergy Corporation Adjustments -B -14 -5 Adjusted earnings (non-GAAP) -C)=(A-B 2,057 1,814 Average common equity (average of -D 18,231 15,847 beginning and ending balances) As-reported ROE -A/D 11.2% 11.4% Adjusted ROE (non-GAAP) -C/D 11.3% 11.4%
Appendix F-2: Reconciliation of GAAP to non-GAAP financial measures – FFO to adjusted debt ($ in millions except where Third quarter noted) 2026 2025 Total debt -A 34,936 30,563 Securitization debt -B 213 231 50% junior subordinated -C 2,000 600 debentures Adjusted debt (non-GAAP) -D)=(A-B-C 32,723 29,733 Net cash flow provided by operating -E 6,175 5,312 activities, LTM Preferred dividend requirements of -F -18 -18 subsidiaries, LTM 50% of the interest expense associated -G -85 -43 with junior subordinated debentures, LTM Working capital items in net cash flow provided by operating activities, LTM:
Receivables -322 -114 Fuel inventory 31 6 Accounts payable 56 269 Taxes accrued 63 64 Interest accrued 117 30 Deferred fuel costs -245 -216 Customer advances – current 1,291 445 Other working capital accounts -225 -117 Securitization regulatory 19 17 charges, LTM Total -H 786 384 FFO, LTM (non-GAAP) -I)=(E-F-G-H 5,492 4,989 FFO to adjusted debt (non-GAAP) -I/D 16.8% 16.8%
Appendix F-3: Reconciliation of GAAP to non-GAAP financial measures – adjusted debt ratios; gross liquidity; and net liquidity ($ in millions except where Third quarter noted) 2026 2025 Total debt -A 34,936 30,563 Securitization debt -B 213 231 50% junior subordinated -C 2,000 600 debentures Adjusted debt (non-GAAP) -D)=(A-B-C 32,723 29,733 Cash and cash equivalents -E 4,205 1,517 Adjusted net debt (non-GAAP) -F)=(D-E 28,518 28,216 Commercial paper -G 105 1,398 Total capitalization -H 55,047 47,539 Securitization debt -B 213 231 Adjusted capitalization -I)=(H-B 54,834 47,308 (non-GAAP) Cash and cash equivalents -E 4,205 1,517 Adjusted net capitalization -J)=(I-E 50,629 45,791 (non-GAAP) Total debt to total -A/H 63% 64% capitalization Adjusted debt to adjusted capitalization -D/I 60% 63% (non-GAAP) Adjusted net debt to adjusted net -F/J 56% 62% capitalization (non-GAAP) Available revolver capacity -K 4,346 4,346 Storm escrows -L 317 307 Equity sold forward, not yet -M 2,144 3,075 settled (r) Gross liquidity (non-GAAP) -N)=(E+K 8,551 5,863 Net liquidity (non-GAAP) -N-G+L+M 10,907 7,846 Entergy Corporation notes: Due Sept. 2026 - 750 Due June 2028 650 650 Due June 2030 600 600 Due June 2031 650 650 Due June 2050 600 600 Junior subordinated debentures due Dec. 1,200 1,200 2054 Junior subordinated debentures due June 700 - 2056 Junior subordinated debentures due June 600 - 2056 Junior subordinated debentures due Dec. 750 - 2056 Junior subordinated debentures due Dec. 750 - 2058 Total Parent long-term debt -O 6,500 4,450 Revolver drawn -P - - Unamortized debt issuance costs and -Q -68 -41 discounts Total Parent debt -R)=(G+O+P+Q 6,536 5,808 Adjusted Parent debt (non-GAAP) -S)=(R-C 4,536 5,208 Adjusted Parent debt to total adjusted -S/D 14% 18% debt (non-GAAP)
(r) Reflects adjustments, including for common dividends between contracting and settlement. 18
Entergy Corporation Consolidated Cash Flow Statement Three Months Ended September 30, 2026 vs. 2025 ────────────────────────────────────────────────────────────────────────────── (Dollars in thousands) (Unaudited) 2026 2025 Variance OPERATING ACTIVITIES Consolidated $ 945,569 $ 698,424 $ 247,145 net income Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: Depreciatio… amortizatio… and decommissio… 680,991 646,204 34,787 including nuclear fuel amortization Deferred income taxes, tax credits, and 500,805 615,477 -114,672 non-current taxes accrued Asset write-offs, impairments, — 12,795 -12,795 and related charges Changes in working capital: Receivables -406,885 -114,995 -291,890 Fuel 18,824 25,689 -6,865 inventory Accounts -96,824 73,523 -170,347 payable Taxes 160,408 166,285 -5,877 accrued Interest 88,882 20,824 68,058 accrued Deferred -32,601 73,247 -105,848 fuel costs Customer advances - 362,706 -10,378 373,084 current Other working 6,685 -13,022 19,707 capital accounts Changes in provisions for 4,465 12,910 -8,445 estimated losses Changes in other -12,856 130,228 -143,084 regulatory assets Changes in other -116,346 123,808 -240,154 regulatory liabilities Change in customer 18,100 — 18,100 advances - non-current Changes in pension and other -45,413 -48,916 3,503 postretirem… funded status Other 158,424 -277,308 435,732 Net cash flow provided by 2,234,934 2,134,795 100,139 operating activities INVESTING ACTIVITIES Constructio… -2,712,543 -1,888,823 -823,720 expenditures Allowance for equity funds used 61,413 44,854 16,559 during construction Nuclear fuel -67,105 -36,990 -30,115 purchases Payment for purchase of — -1,909 1,909 plant Proceeds from sale of — 506,781 -506,781 business and assets Changes in securitizat… -8,647 -8,020 -627 account Payments to storm reserve -2,810 -3,172 362 escrow accounts Decrease (increase) -8,395 -45,110 36,715 in other investments Proceeds from nuclear decommissio… 510,373 378,343 132,030 trust fund sales Investment in nuclear -520,719 -416,497 -104,222 decommissio… trust funds Net cash flow used in -2,748,433 -1,470,543 -1,277,890 investing activities FINANCING ACTIVITIES Proceeds from the issuance of: Long-term 3,030,999 523,969 2,507,030 debt Treasury 1,755 10,728 -8,973 stock Common stock 912,458 — 912,458 Retirement of long-term -1,414,493 -1,429,366 14,873 debt Changes in commercial -1,437,299 939,289 -2,376,588 paper - net Customer advances 385,951 99,188 286,763 received for construction Customer advances -305,190 -188,224 -116,966 used for construction Other -6,454 -5,979 -475 Dividends paid: Common stock -298,653 -267,939 -30,714 Preferred -4,580 -4,580 — stock Net cash flow provided by 864,494 -322,914 1,187,408 financing activities Net increase in cash and 350,995 341,338 9,657 cash equivalents Cash and cash equivalents 3,854,045 1,175,631 2,678,414 at beginning of period Cash and cash equivalents $ 4,205,040 $ 1,516,969 $ 2,688,071 at end of period SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Interest - net of $ 327,199 $ 315,677 $ 11,522 amount capitalized Income taxes - net (includes proceeds from the transfer of $ -222,357 $ -405,174 $ 182,817 production tax credits to third parties) Noncash investing activities: Accrued construction $ -94,155 $ -31,537 $ -62,618 expenditures
Entergy Corporation Consolidated Cash Flow Statement Year to Date September 30, 2026 vs. 2025 ────────────────────────────────────────────────────────────────────────────── (Dollars in thousands) (Unaudited) 2026 2025 Variance OPERATING ACTIVITIES Consolidated $ 1,824,194 $ 1,532,800 $ 291,394 net income Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: Depreciatio… amortizatio… and decommissio… 2,007,130 1,901,408 105,722 including nuclear fuel amortization Deferred income taxes, tax credits, and 721,695 846,751 -125,056 non-current taxes accrued Asset write-offs, impairments, 18,059 12,795 5,264 and related charges Changes in working capital: Receivables -632,376 -390,040 -242,336 Fuel 13,145 20,837 -7,692 inventory Accounts 37,294 20,084 17,210 payable Taxes 172,609 177,515 -4,906 accrued Interest 134,390 43,691 90,699 accrued Deferred -164,173 -189,958 25,785 fuel costs Customer advances - 1,103,683 293,414 810,269 current Other working -112,081 -71,842 -40,239 capital accounts Changes in provisions for -19,145 -25,534 6,389 estimated losses Changes in other 121,414 304,751 -183,337 regulatory assets Changes in other -83,354 143,848 -227,202 regulatory liabilities Change in customer 153,398 25,000 128,398 advances - non-current Changes in pension and other -150,808 -153,884 3,076 postretirem… funded status Other -188,387 -559,051 370,664 Net cash flow provided by 4,956,687 3,932,585 1,024,102 operating activities INVESTING ACTIVITIES Constructio… -7,743,362 -5,557,149 -2,186,213 expenditures Allowance for equity funds used 163,494 128,015 35,479 during construction Nuclear fuel -266,873 -166,114 -100,759 purchases Payment for purchase of -263 -3,517 3,254 plant and assets Proceeds from sale of — 506,781 -506,781 business and assets Insurance proceeds received for 14,282 — 14,282 property damages Changes in securitizat… -8,432 -4,711 -3,721 account Payments to storm reserve -8,361 -9,980 1,619 escrow accounts Receipts from storm reserve — 43,789 -43,789 escrow accounts Decrease (increase) 57,153 -46,769 103,922 in other investments Litigation proceeds for reimburseme… of — 3,546 -3,546 spent nuclear fuel storage costs Proceeds from nuclear decommissio… 2,058,540 1,091,445 967,095 trust fund sales Investment in nuclear -2,107,557 -1,196,708 -910,849 decommissio… trust funds Net cash flow used in -7,841,379 -5,211,372 -2,630,007 investing activities FINANCING ACTIVITIES Proceeds from the issuance of: Long-term 7,656,847 4,041,918 3,614,929 debt Treasury 13,289 35,267 -21,978 stock Common stock 1,929,629 804,631 1,124,998 Retirement of long-term -3,279,359 -3,029,094 -250,265 debt Changes in commercial -525,577 487,603 -1,013,180 paper - net Customer advances 1,271,818 831,642 440,176 received for construction Customer advances -741,411 -433,705 -307,706 used for construction Other -266,129 -3,815 -262,314 Dividends paid: Common stock -884,552 -784,655 -99,897 Preferred -13,739 -13,739 — stock Net cash flow provided by 5,160,816 1,936,053 3,224,763 financing activities Net increase in cash and 2,276,124 657,266 1,618,858 cash equivalents Cash and cash equivalents 1,928,916 859,703 1,069,213 at beginning of period Cash and cash equivalents $ 4,205,040 $ 1,516,969 $ 2,688,071 at end of period SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Interest - net of $ 1,011,196 $ 963,577 $ 47,619 amount capitalized Income taxes - net (includes proceeds from the transfer of $ -224,658 $ -402,687 $ 178,029 production tax credits to third parties) Noncash investing activities: Accrued construction $ 908,486 $ 545,455 $ 363,031 expenditures
Entergy Corporation Consolidated Cash Flow Statement Twelve Months Ended September 30, 2026 vs. 2025 ────────────────────────────────────────────────────────────────────────────── (Dollars in thousands) (Unaudited) 2026 2025 Variance OPERATING ACTIVITIES Consolidated $ 2,064,722 $ 1,819,962 $ 244,760 net income Adjustments to reconcile consolidated net income to net cash flow provided by operating activities: Depreciatio… amortizatio… and decommissio… 2,642,860 2,523,712 119,148 including nuclear fuel amortization Deferred income taxes, tax credits, and 890,453 932,763 -42,310 non-current taxes accrued Asset write-offs, impairments, and 18,059 -11,846 29,905 related charges (credits) Pension settlement — 2,937 -2,937 charge Changes in working capital: Receivables -322,169 -113,864 -208,305 Fuel 31,235 6,082 25,153 inventory Accounts 55,965 269,191 -213,226 payable Taxes 63,177 63,596 -419 accrued Interest 116,802 30,210 86,592 accrued Deferred -245,324 -215,743 -29,581 fuel costs Customer advances - 1,291,456 445,076 846,380 current Other working -224,712 -117,208 -107,504 capital accounts Changes in provisions for -3,895 -1,367 -2,528 estimated losses Changes in other 101,577 501,221 -399,644 regulatory assets Changes in other -46,391 237,956 -284,347 regulatory liabilities Change in customer 163,398 25,000 138,398 advances - non-current Changes in pension and other -275,110 -431,659 156,549 postretirem… funded status Other -147,350 -653,751 506,401 Net cash flow provided by 6,174,753 5,312,267 862,485 operating activities INVESTING ACTIVITIES Constructio… -9,871,135 -7,130,632 -2,740,503 expenditures Allowance for equity funds used 216,205 171,865 44,340 during construction Nuclear fuel -353,671 -268,825 -84,846 purchases Payment for purchase of -263 -280,913 280,650 plant Proceeds from sale of 351,807 506,781 -154,974 business and assets Insurance proceeds received for 14,282 — 14,282 property damages Changes in securitizat… -887 2,226 -3,113 account Payments to storm reserve -13,275 -14,033 758 escrow accounts Receipts from storm reserve 2,781 43,789 -41,008 escrow accounts Decrease (increase) -9,466 -50,369 40,903 in other investments Litigation proceeds for reimburseme… of — 85,958 -85,958 spent nuclear fuel storage costs Proceeds from nuclear decommissio… 2,477,092 2,177,248 299,844 trust fund sales Investment in nuclear -2,552,931 -2,301,862 -251,069 decommissio… trust funds Net cash flow used in -9,739,461 -7,058,767 -2,680,694 investing activities FINANCING ACTIVITIES Proceeds from the issuance of: Long-term 9,365,374 4,999,024 4,366,350 debt Treasury 14,663 75,613 -60,950 stock Common stock 2,261,101 804,631 1,456,470 Retirement of long-term -3,752,065 -3,883,239 131,174 debt Changes in commercial -1,282,697 292,485 -1,575,182 paper - net Customer advances 2,083,941 1,143,195 940,746 received for construction Customer advances -970,602 -505,894 -464,708 used for construction Other -274,569 -13,500 -261,069 Dividends paid: Common stock -1,174,048 -1,042,339 -131,709 Preferred -18,319 -18,319 — stock Net cash flow provided by 6,252,779 1,851,657 4,401,122 financing activities Net increase in cash and 2,688,071 105,157 2,582,913 cash equivalents Cash and cash equivalents 1,516,969 1,411,812 105,157 at beginning of period Cash and cash equivalents $ 4,205,040 $ 1,516,969 $ 2,688,071 at end of period SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid (received) during the period for: Interest - net of $ 1,285,903 $ 1,282,935 $ 2,968 amount capitalized Income taxes - net (includes proceeds from the transfer of $ -337,042 $ -369,925 $ 32,883 production tax credits to third parties) Noncash investing activities: Accrued construction $ 1,163,078 $ 740,732 $ 422,346 expenditures
Full text with the tables
NEWS RELEASE
FOR IMMEDIATE RELEASE
Nov. 2, 2026
Entergy reports third quarter 2026 financial results
Company narrows guidance range, affirms financial outlooks
NEW ORLEANS – Entergy Corporation (NYSE: ETR) reported third quarter 2026
earnings per share of $1.98 on an as-reported and an adjusted (non-GAAP) basis.
“We made very strong progress this quarter across customer, operational,
regulatory, and financial aspects of our business,” said Drew Marsh, Entergy
Chair and Chief Executive Officer. “We have clear line of sight to deliver on
our near- and long-term objectives, and we are well positioned to execute on
additional opportunities driven by customer needs.”
Business highlights included the following:
• Entergy Arkansas announced an expansion of its service agreement with Google.
• Orange County Advanced Power Station is operational and delivering power to
Entergy Texas customers.
• The LPSC approved Entergy Louisiana’s $1.2 billion Babel to Webre transmission
project.
• Entergy Louisiana reached a settlement with the LPSC Staff in its Evest
filing.
• Entergy Louisiana filed its application for additional Future Ready resilience
plan investment.
• The CCNO approved Entergy New Orleans’s four-year FRP extension.
• Entergy Mississippi filed an application to securitize costs associated with
Winter Storm Fern.
• The U.S. Department of Energy awarded $14 million in grants to Entergy utility
companies to strengthen grid reliability.
• Entergy’s Board of Directors declared a quarterly dividend of 68 cents per
share, a six percent increase.
• Entergy received its 52 nd EEI emergency response award for restoration
efforts following Winter Storm Fern.
• Site Selection magazine named Entergy a top utility in economic development
for the 19 th consecutive year.
Table of contents Page
News release 1
Table of appendices and financial statements 6
A: Consolidated results and adjustments 7
B: Earnings variance analysis 10
C: Utility operating and financial measures 13
D: Consolidated financial measures 14
E: Definitions and abbreviations and acronyms 15
F: Other GAAP to non-GAAP reconciliations 17
Financial statements 19
1
Entergy reports third quarter 2026 financial results
Nov. 2, 2026
Page 2
Consolida…
earnings
(GAAP and
non-GAAP
measures)
Third
quarter
and
year-to-d…
2026 vs.
2025(See
Appendix A
for
reconcili…
of GAAP to
non-GAAP
measures
and
details
on
adjustmen…
Third Year-to-da…
quarter
2026 2025 Change 2026 2025 Change
(After-ta…
$ in
millions)
As-report… 940 694 247 1,808 1,522 285
earnings
Less - - - -14 - -14
adjustmen…
Adjusted
earnings 940 694 247 1,821 1,522 299
(non-GAAP)
Estimated
weather 116 28 88 108 88 21
impact
(After-ta…
per share
in $)
As-report… 1.98 1.53 0.45 3.86 3.40 0.46
earnings
Less - - - -0.03 - -0.03
adjustmen…
Adjusted
earnings 1.98 1.53 0.45 3.89 3.40 0.49
(non-GAAP)
Estimated
weather 0.24 0.06 0.18 0.23 0.20 0.03
impact
Calculations may differ due to rounding
Consolidated results
For third quarter 2026, the company reported earnings of $940 million, or $1.98
per share, on an as-reported and an adjusted basis. This compared to third
quarter 2025 earnings of $694 million, or $1.53 per share, on an as-reported and
an adjusted basis.
Summary discussions of results by business follow. Additional details, including
information on operating cash flow by business, are provided in Appendix A.
Appendix B provides a more detailed analysis of earnings per share variances by
business.
Business results
Utility
For third quarter 2026, the Utility business reported earnings attributable to
Entergy Corporation of $1,079 million, or $2.28 per share, on an as-reported and
an adjusted basis. This compared to third quarter 2025 earnings of $810 million,
or $1.79 per share, on an as-reported and an adjusted basis.
The primary drivers for the quarter’s earnings increase included:
• higher retail sales volume, including the effects of weather;
• the net effect of regulatory actions across several operating companies;
• return on construction work in progress for certain utility plant investments;
and
• higher other income (deductions).
These drivers were partially offset by higher interest expense, other O&M, and
depreciation and amortization.
On a per share basis, third quarter 2026 results reflected higher diluted
average number of common shares outstanding primarily due to the settlement of
equity forwards in 2025 and 2026.
Appendix C contains additional details on Utility operating and financial
measures.
Parent & Other
For third quarter 2026, Parent & Other reported a loss attributable to Entergy
Corporation of $(139 million), or (29) cents per share, on an as-reported and an
adjusted basis. This compared to a third quarter 2025 loss of $(117 million), or
(26) cents per share, on an as-reported and an adjusted basis.
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Entergy reports third quarter 2026 financial results
Nov. 2, 2026
Page 3
The primary driver for the quarter-over-quarter change was higher interest
expense.
On a per share basis, third quarter 2026 results reflected higher diluted
average number of common shares outstanding (see details in Utility section).
Earnings per share guidance
Entergy narrowed its 2026 adjusted earnings per share guidance to a range of
$4.35 to $4.45. See the earnings call presentation for additional details.
The company has provided 2026 earnings guidance with regard to the non-GAAP
measure of adjusted earnings per share. This measure excludes from the
corresponding GAAP financial measure the effect of adjustments as described in
the “Non-GAAP financial measures” section. The company has not provided a
reconciliation of such non-GAAP guidance to guidance presented on a GAAP basis
because it cannot predict and quantify with a reasonable degree of confidence
all of the adjustments that may occur during the period. Potential adjustments
include, among other things, certain significant income tax items, certain items
recorded as a result of regulatory settlements or decisions, and certain unusual
costs or expenses.
Earnings teleconference
A teleconference will be held at 10:00 a.m. Central Time on Monday, Nov. 2,
2026, to discuss Entergy’s quarterly earnings announcement and the company’s
financial performance. The teleconference may be accessed by visiting Entergy’s
website at investors.entergy.com/investors/events-and-presentations or by
dialing 888-440-4149, conference ID 9024832, no more than 15 minutes prior to
the start of the call. The earnings call presentation is also being posted to
Entergy’s website concurrent with this news release. A replay of the
teleconference will be available on Entergy’s website at
investors.entergy.com/investors/events-and-presentations and by telephone. The
telephone replay will be available through Nov. 9, 2026, by dialing
800-770-2030, conference ID 9024832.
Entergy (NYSE: ETR) generates, transmits and distributes electricity to power
life for more than 3 million customers through our operating companies in
Arkansas, Louisiana, Mississippi and Texas. We’re focused on keeping costs for
our customers as low as possible while providing reliable energy that our
communities count on. We’re also investing in growth for the future with a more
resilient, cleaner energy system that includes modern natural gas, nuclear and
renewable energy generation. As a nationally recognized leader in sustainability
and corporate citizenship, we deliver more than $100 million in economic
benefits each year to the communities we serve through philanthropy,
volunteerism and advocacy. Entergy is a Fortune 500 company headquartered in New
Orleans, Louisiana, and has approximately 12,000 employees. Learn more at
Entergy.com and connect with @Entergy on social media.
Entergy Corporation’s common stock is listed on the New York Stock Exchange and
NYSE Texas under the symbol “ETR”.
Details regarding Entergy’s results of operations, regulatory proceedings, and
other matters are available in this earnings release, a copy of which will be
filed with the SEC, and the earnings call presentation. Both documents are
available on Entergy’s Investor Relations website at
investors.entergy.com/investors/events-and-presentations .
Entergy maintains a web page as part of its Investor Relations website entitled
Regulatory and other information , which provides investors with key updates on
certain regulatory proceedings and important
(more)
Entergy reports third quarter 2026 financial results
Nov. 2, 2026
Page 4
milestones on the execution of its strategy. While some of this information may
be considered material information, investors should not rely exclusively on
this page for all relevant company information.
For definitions of certain operating measures, as well as GAAP and non-GAAP
financial measures and abbreviations and acronyms used in the earnings release
materials, see Appendix E.
Non-GAAP financial measures
This news release contains non-GAAP financial measures, which are generally
numerical measures of a company’s performance, financial position, or cash flows
that either exclude or include amounts that are not normally excluded or
included in the most directly comparable measure calculated and presented in
accordance with GAAP. Entergy has provided quantitative reconciliations within
this news release of the non-GAAP financial measures to the most directly
comparable GAAP financial measures.
Entergy reports earnings using the non-GAAP measure of adjusted earnings, which
excludes the effect of certain “adjustments”. Adjustments are unusual or non-
recurring items or events or other items or events that management believes do
not reflect the ongoing business of Entergy, such as significant income tax
items, certain items recorded as a result of regulatory settlements or
decisions, and certain unusual costs or expenses. In addition to reporting GAAP
earnings on a per share basis, Entergy reports its adjusted earnings on a per
share basis. These per share measures represent the applicable earnings amount
divided by the diluted average number of common shares outstanding for the
period.
Management uses the non-GAAP financial measures of adjusted earnings and
adjusted earnings per share for, among other things, financial planning and
analysis; reporting financial results to the board of directors, employees,
owners, and analysts; and internal evaluation of financial performance. Entergy
believes that these non-GAAP financial measures provide useful information to
investors in evaluating the ongoing results of Entergy’s business, comparing
period to period results, and comparing Entergy’s financial performance to the
financial performance of other companies in the utility sector.
Other non-GAAP measures, including adjusted ROE, adjusted ROE excluding
affiliate preferred, FFO to adjusted debt, gross liquidity, net liquidity,
adjusted Parent debt to total adjusted debt, adjusted debt to adjusted
capitalization, and adjusted net debt to adjusted net capitalization are
measures Entergy uses internally for management and board of directors
discussions and to gauge the overall strength of its business. Entergy believes
the above data provides useful information to investors in evaluating Entergy’s
ongoing financial results and flexibility and assists investors in comparing
Entergy’s credit and liquidity to the credit and liquidity of others in the
utility sector. These metrics are defined in Appendix E.
These non-GAAP financial measures reflect an additional way of viewing aspects
of Entergy’s operations that, when viewed with Entergy’s GAAP results and the
accompanying reconciliations to corresponding GAAP financial measures, provide a
more complete understanding of factors and trends affecting Entergy’s business.
These non-GAAP financial measures should not be used to the exclusion of GAAP
financial measures. Investors are strongly encouraged to review Entergy’s
consolidated financial statements and publicly-filed reports in their entirety
and not to rely on any single financial measure. Although certain of these
measures are intended to assist investors in comparing Entergy’s performance to
other companies in the utility sector, non-GAAP financial measures are not
standardized; therefore, it might not be possible to compare these financial
measures with other companies’ non-GAAP financial measures having the same or
similar names.
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Entergy reports third quarter 2026 financial results
Nov. 2, 2026
Page 5
Cautionary note regarding forward-looking statements
This news release contains certain “forward-looking statements” within the
meaning of federal securities laws that are subject to risks and uncertainties.
Such statements include, among other things, statements regarding Entergy’s
adjusted earnings per share guidance and outlooks; the company’s capital plan;
retail and industrial sales growth outlooks; other financial and operational
outlooks; and other statements of Entergy’s plans, beliefs, or expectations
within this news release. Readers are cautioned not to place undue reliance on
these forward-looking statements, which apply only as of the date of this news
release. Entergy undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
Forward-looking statements are subject to a number of risks, uncertainties, and
other factors that could cause actual results to differ materially from those
expressed or implied in such forward-looking statements, including (a) those
factors discussed elsewhere in this news release and in Entergy’s most recent
Annual Report on Form 10-K and any subsequent public filings with the Securities
and Exchange Commission; (b) uncertainties associated with (1) rate proceedings,
formula rate plans, and other cost recovery mechanisms, including the risk that
costs may not be recoverable to the extent or on the timeline anticipated and
(2) implementation of the ratemaking effects of changes in law; (c)
uncertainties associated with (1) realizing the benefits of its resilience plan,
including impacts of the frequency and intensity of future storms and storm
paths, as well as the pace of project completion and (2) efforts to remediate
the effects of major storms and recover related restoration costs; (d) risks
associated with operating nuclear facilities, including plant relicensing,
operating, and regulatory costs and risks; (e) changes in decommissioning trust
values or earnings or in the timing or cost of decommissioning Entergy’s nuclear
plant sites; (f) legislative and regulatory actions and risks and uncertainties
associated with claims or litigation by or against Entergy and its subsidiaries;
(g) risks and uncertainties associated with executing on business strategies,
including (1) strategic transactions that Entergy or its subsidiaries may
undertake and the risks that any such transaction may not be completed as and
when expected or the anticipated benefits may not be realized, and (2) Entergy’s
ability to meet the rapidly growing demand for electricity, including from
large-scale data centers and other large customers, and to manage the impacts of
such growth on customers and its business, or the risk that contracted or
expected load growth does not materialize or is not sustained; (h) risks and
uncertainties associated with the resolution of pending or future applications,
regulatory proceedings, litigation or governmental official actions relating to
generation, transmission, or other facilities and the effect of related public
and political opposition, including, in each case, those relating to any
facilities designed to serve large-scale data centers; (i) direct and indirect
impacts to Entergy or its customers from pandemics, terrorist attacks,
geopolitical conflicts, cybersecurity threats, data security breaches, or other
attempts to disrupt Entergy’s business or operations, and/or other catastrophic
events; and (j) effects on Entergy or its customers of (1) changes in federal,
state, or local laws and regulations and other governmental actions or policies,
such as changes in monetary, fiscal, trade, tax, environmental, or energy
(including, among other things, data center energy use, efficiency standards,
and sources of power) policies, as well as changes in utility regulations,
including those relating to new projects designed to serve the increased load
growth of large-scale data centers and other large customers; (2) changes in
commodity markets, capital markets, or economic conditions; and (3)
technological change, including the costs, pace of development, and
commercialization of new and emerging technologies.
-30-
Investor inquiries: Media inquiries:
Liz Hunter Neal Kirby
504-576-3294 504-576-4238
ehunte1@entergy.com nkirby@entergy.com
(more)
Third quarter 2026 earnings release appendices and financial statements
Appendices
A: Consolidated results and adjustments
B: Earnings variance analysis
C: Utility operating and financial measures
D: Consolidated financial measures
E: Definitions and abbreviations and acronyms
F: Other GAAP to non-GAAP reconciliations
Financial statements
Consolidating balance sheets
Consolidating income statements
Consolidated cash flow statements
6
A: Consolidated results and adjustments
Appendix A-1 provides a comparative summary of consolidated earnings, including
a reconciliation of as-reported earnings (GAAP) to adjusted earnings (non-GAAP).
Appendix
A-1:
Consolid…
earnings
-
reconcil…
of GAAP
to
non-GAAP
measures…
quarter
and
year-to-…
2026 vs.
2025(See
Appendix
A-2 and
Appendix
A-3 for
details
on
adjustme…
Third Year-to-da…
quarter
2026 2025 Change 2026 2025 Change
(After-t…
$ in
millions)
As-repor…
earnings
(loss)
Utility 1,079 810 269 2,245 1,899 346
Parent & -139 -117 -22 -437 -376 -61
Other
Consolid… 940 694 247 1,808 1,522 285
Less
adjustme…
Utility - - - - - -
Parent & - - - -14 - -14
Other
Consolid… - - - -14 - -14
Adjusted
earnings
(loss)
(non-GAA…
Utility 1,079 810 269 2,245 1,899 346
Parent & -139 -117 -22 -424 -376 -47
Other
Consolid… 940 694 247 1,821 1,522 299
Estimated
weather 116 28 88 108 88 21
impact
Diluted
average
number of
common 474 454 21 468 447 21
shares
outstand…
(in
millions)
(After-t…
per share
in $) (a)
As-repor…
earnings
(loss)
Utility 2.28 1.79 0.49 4.80 4.25 0.55
Parent & -0.29 -0.26 -0.04 -0.93 -0.84 -0.09
Other
Consolid… 1.98 1.53 0.45 3.86 3.40 0.46
Less
adjustme…
Utility - - - - - -
Parent & - - - -0.03 - -0.03
Other
Consolid… - - - -0.03 - -0.03
Adjusted
earnings
(loss)
(non-GAA…
Utility 2.28 1.79 0.49 4.80 4.25 0.55
Parent & -0.29 -0.26 -0.04 -0.91 -0.84 -0.06
Other
Consolid… 1.98 1.53 0.45 3.89 3.40 0.49
Estimated
weather 0.24 0.06 0.18 0.23 0.20 0.03
impact
Calculations may differ due to rounding
(a) Per share amounts are calculated by dividing the earnings (loss) by the
corresponding diluted average number of common shares outstanding for the
period.
See Appendix B for detailed earnings variance analysis.
7
Appendix A-2 and Appendix A-3 detail adjustments by business. Adjustments are
included in as-reported earnings consistent with GAAP but are excluded from
adjusted earnings. As a result, adjusted earnings is considered a non-GAAP
measure.
Appendix
A-2:
Adjustmen…
by driver
(shown as
positive/
(negative)
impact on
earnings
or EPS)
Third
quarter
and
year-to-d…
2026 vs.
2025
Third Year-to-da…
quarter
2026 2025 Change 2026 2025 Change
(Pre-tax
except for
income tax
effect
and
totals; $
in
millions)
Parent &
Other
1Q26
impairment
related to
the sale
of a
non-utili… - - - -18 - -18
business
interest
in
Independe…
power
plant
Income tax
effect on
Parent & - - - 4 - 4
Other
adjustment
above
Total
Parent and - - - -14 - -14
Other
Total - - - -14 - -14
adjustmen…
(After-ta…
per share
in $) (b)
Parent &
Other
1Q26
impairment
related to
the sale
of a
non-utili… - - - -0.03 - -0.03
business
interest
in
Independe…
power
plant
Total
Parent & - - - -0.03 - -0.03
Other
Total - - - -0.03 - -0.03
adjustmen…
Calculations may differ due to rounding
(b) Per share amounts are calculated by multiplying the earnings (loss) by the
income tax rate that is expected to apply and dividing by the corresponding
diluted average number of common shares outstanding for the period.
Appendix
A-3:
Adjustmen…
by income
statement
line item
(shown as
positive/
(negative)
impact on
earnings)
Third
quarter
and
year-to-d…
2026 vs.
2025
(Pre-tax
except for
income
taxes and
totals; $
in
millions)
Third Year-to-da…
quarter
2026 2025 Change 2026 2025 Change
Parent &
Other
Asset
write-off…
impairmen… - - - -18 - -18
and
related
charges
Income - - - 4 - 4
taxes
Total
Parent & - - - -14 - -14
Other
Total - - - -14 - -14
adjustmen…
Calculations may differ due to rounding
8
Appendix A-4 provides a comparative summary of OCF by business.
Appendix
A-4:
Consolid…
operating
cash flow
Third
quarter
and
year-to-…
2026 vs.
2025
($ in
millions)
Third Year-to-da…
quarter
2026 2025 Change 2026 2025 Change
Utility 2,267 2,177 90 5,158 4,114 1,044
Parent & -32 -42 10 -201 -181 -20
Other
Consolid… 2,235 2,135 100 4,957 3,933 1,024
Calculations may differ due to rounding
Year to date OCF increased primarily due to higher receipts of advance payments
related to customer agreements and higher collections from Utility customers.
These increases were partially offset by higher fuel and purchased power
payments, lower proceeds from the transfer of production tax credits, the timing
of payments to vendors, higher ad valorem tax payments partly due to the timing
of payments, and higher interest payments.
9
B: Earnings variance analysis
Appendix B-1 and Appendix B-2 provide details of current quarter and year-to-
date 2026 versus 2025 as-reported and adjusted earnings per share variances.
App…
B-1:
As-…
and
adj…
ear…
per
sha…
var…
ana…
(c),
(d)
Thi…
qua…
2026
vs.
2025
(Af…
per
sha…
in
$)
Pare…
Util… & Cons…
Other
As- Adju… As- Adju… As- Adju…
repo… repo… repo…
2025
ear… 1.79 1.79 -0.26 -0.26 1.53 1.53
(lo…
Ope…
rev…
les…
fue…
fue…
exp.
and
gas
pur…
for 0.76 0.76 -e - - 0.76 0.76
res…
pur…
pow…
and
oth…
reg.
chg…
(cr…
–
net
Nuc…
ref… -0.01 -0.01 - - -0.01 -0.01
out…
exp…
Oth… -0.10 -0.10 -f - - -0.10 -0.10
O&M
Ass…
wri…
imp… 0.02 0.02 - - 0.02 0.02
and
rel…
cha…
Dec… - - - - - -
Tax…
oth…
than -0.01 -0.01 - - -0.01 -0.01
inc…
tax…
Dep…
and -0.05 -0.05 -g - - -0.04 -0.04
amo…
Oth…
inc… 0.10 0.10 -h 0.02 0.02 0.12 0.12
(de…
Int… -0.13 -0.13 -i -0.06 -0.06 -j -0.19 -0.19
exp…
Inc…
tax… 0.01 0.01 -0.01 -0.01 0.01 0.01
–
oth…
Pre…
div…
req… - - - - - -
and
non…
int…
Sha… -0.10 -0.10 0.01 0.01 -0.09 -0.09 -k
eff…
2026
ear… 2.28 2.28 -0.29 -0.29 1.98 1.98
(lo…
h
Calculations may differ due to rounding
App…
B-2:
As-…
and
adj…
ear…
per
sha…
var…
ana…
(c),
(d)
Yea…
2026
vs.
2025
(Af…
per
sha…
in
$)
Pare…
Util… & Cons…
Other
As- Adju… As- Adju… As- Adju…
repo… repo… repo…
2025
ear… 4.25 4.25 -0.84 -0.84 3.40 3.40
(lo…
Ope…
rev…
les…
fue…
fue…
exp.
and
gas
pur…
for 0.84 0.84 -e - - 0.84 0.84
res…
pur…
pow…
and
oth…
reg.
chg…
(cr…
–
net
Nuc…
ref… 0.01 0.01 - - 0.01 0.01
out…
exp…
Oth… -0.18 -0.18 -f -0.01 -0.01 -0.18 -0.18
O&M
Ass…
wri…
imp… 0.02 0.02 -0.03 - -l -0.01 0.02
and
rel…
cha…
Dec… -0.01 -0.01 - - -0.01 -0.01
Tax…
oth…
than -0.05 -0.05 -m - - -0.05 -0.05
inc…
tax…
Dep…
and -0.14 -0.14 -g - - -0.13 -0.13
amo…
Oth…
inc… 0.56 0.56 -h 0.03 0.03 -n 0.59 0.59
(de…
Int… -0.31 -0.31 -i -0.12 -0.12 -j -0.42 -0.42
exp…
Inc…
tax… 0.04 0.04 -o -0.01 -0.01 0.03 0.03
–
oth…
Pre…
div…
req… -0.01 -0.01 - - -0.01 -0.01
and
non…
int…
Sha… -0.22 -0.22 0.04 0.04 -0.18 -0.18 -k
eff…
2026
ear… 4.80 4.80 -0.93 -0.91 3.86 3.89
(lo…
h
Calculations may differ due to rounding
10
(c) Utility operating revenue and Utility income taxes – other variances exclude
the following for the return/collection of excess/deficient unprotected ADIT
(net effect was neutral to earnings) ($ in millions):
3Q26 3Q25 YTD26 YTD25
Utility operating revenue -11 -8 -39 -14
Utility income taxes – other 11 8 39 14
(d) EPS effects of individual income statement line item variances are
calculated by multiplying the pre-tax amount by the income tax rate that is
expected to apply and dividing by diluted average number of common shares
outstanding for the prior period. Income taxes – other represents income tax
differences other than the income tax effect of individual line-item variances.
Share effect captures the per share impact from the change in diluted average
number of common shares outstanding.
(e) The third quarter and year-to-date earnings increases reflected higher
electric volume including the effects of weather and the effect of rate actions
including: E-AR’s FRP, E-AR’s Generating Arkansas Jobs Act rider, E-LA’s FRP
(including FRP riders), E-LA’s RPCR, E-MS’s FRP interim facilities rate
adjustment, E-TX’s TCRF, and E-TX’s DCRF. Higher revenue related to the
amortization of customer advances designed to provide a return on CWIP for
certain utility plant investments, which is recognized as costs are incurred,
contributed to the increases. The increases also reflected higher revenues
associated with Grand Gulf primarily due to higher other O&M and higher return
on rate base as well as higher miscellaneous revenue primarily due to higher
pole attachment revenues. The increases were partially offset by the receipt of
liquidated damages at E-MS in third quarter 2025 which resulted from a
counterparty’s termination of a purchased power agreement. The year-to-date
results also reflected the effects of E-MS’s grid modernization rider, and the
sale of the natural gas LDC businesses in July 2025. Changes in regulatory
provisions for decommissioning items were also a driver (based on regulatory
treatment, decommissioning-related variances are offset in other line items and
are largely earnings neutral).
Utility as-reported operating revenue less fuel,
fuel-related expenses and gas purchased for resale;
purchased power;
and other regulatory charges (credits) – net variance
analysis2026 vs. 2025 ($ EPS)
3Q YTD
Electric volume / weather 0.33 0.36
Retail electric price 0.33 0.65
Return on CWIP for certain utility plant 0.09 0.21
investments
Grand Gulf recovery 0.02 0.02
Miscellaneous revenue 0.02 0.06
E-MS 3Q25 PPA termination proceeds -0.02 -0.03
E-TX capacity costs net of recovery -0.01 0.01
Sale of natural gas LDCs - -0.11
Reg. provisions for decommissioning - -0.36
items
Other - 0.03
Total 0.76 0.84
(f) The third quarter earnings decrease from higher Utility other O&M was
primarily due to higher power delivery expenses driven by an increase in
vegetation maintenance costs and higher power generation expenses largely due to
a higher scope of work performed in 2026 as compared to 2025, including during
plant outages. The year-to-date earnings decrease from higher Utility other O&M
reflected higher power delivery expenses primarily due to increased vegetation
maintenance costs as well as an increase in compensation and benefits costs
mainly due to higher healthcare claims, the timing of recognition of
prescription drug rebates, and revisions to estimated incentive-based
compensation expense. The year-to-date decrease was partially offset by higher
nuclear insurance refunds, lower gas operations expenses resulting from the sale
of natural gas LDC businesses, and lower loss provisions and bad debt expense.
The third quarter and year-to-date decreases also reflected a gain from the sale
of natural gas LDC businesses as well as various project write-offs in third
quarter 2025.
(g) The third quarter and year-to-date earnings decreases from higher Utility
depreciation and amortization were primarily due to higher plant in service. The
decreases also reflected higher FERC jurisdictional depreciation rates at E-AR
and E -LA effective Jan. 2026, and increases in E-LA’s nuclear depreciation
rates effective Sept. 2025 and Sept. 2026.
(h) The third quarter and year-to-date earnings increases from higher Utility
other income (deductions) reflected higher amortization of tax gross ups on
customer advances, higher external interest income, and higher AFUDC–equity due
to higher construction work in progress. The year-to-date increase was partially
offset by a true-up of E-LA’s MISO cost recovery mechanism in second quarter
2025 as well as lower intercompany dividend income from affiliate preferred
membership interest related to storm cost securitizations (intercompany dividend
income largely offset at P&O). The year-
11
to-date variance included changes in nuclear decommissioning trust returns
(based on regulatory treatment, decommissioning-related variances are offset in
other line items and are largely earnings neutral).
(i) The third quarter and year-to-date earnings decreases from higher Utility
interest expense were primarily due to higher debt balances, higher average
interest rates, and higher carrying costs on customer advances. The decreases
also reflected 2026 carrying costs on retained proceeds from the monetization of
production tax credits.
(j) The third quarter and year-to-date earnings decreases from higher Parent &
Other interest expense were primarily due to the issuance of $1.3 billion and
$1.5 billion of junior subordinated debentures in Nov. 2025 and Aug. 2026,
respectively.
(k) The third quarter and year-to-date earnings per share decreases from share
effect were due to higher diluted average number of common shares outstanding
primarily due to the settlement of equity forwards in Oct. 2025, Feb. 2026, June
2026, and Sept. 2026.
(l) The year-to-date as-reported earnings decrease from higher Parent & Other
asset write-offs, impairments, and related charges was due to a first quarter
2026 $(18 million) ($(14 million) after tax) non-cash impairment related to the
sale of a non-utility business interest in the Independence power plant
(considered an adjustment and excluded from adjusted earnings).
(m) The year-to-date earnings decrease from higher Utility taxes other than
income taxes was primarily due to increases in ad valorem taxes resulting from
higher assessments.
(n) The year-to-date earnings increase from higher Parent & Other other income
(deductions) was primarily due to lower intercompany dividends on affiliated
preferred membership interest related to storm cost securitization (largely
offset at Utility).
(o) The year-to-date earnings increase from lower Utility income taxes – other
was primarily due to tax benefits associated with the exercise of stock-based
compensation in first quarter 2026.
12
C: Utility operating and financial measures
Appendix C provides a comparison of Utility operating and financial measures .
Ap…
C:
Ut…
op…
and
fi…
me…
Th…
qu…
and
ye…
20…
vs.
20…
Thi… Yea…
qua…
% %
2026 2025 %ch… wea… 2026 2025 %ch… weat…
adj. adj.
(p) (p)
GWh
so…
Re… 13,… 11,… 12.6 6.1 29,… 29,… 2.0 2.4
Co… 8,9… 8,4… 5.6 1.9 22,… 22,… 1.8 0.7
Go… 673 678 -0.7 -1.2 1,8… 1,8… -0.4 -0.3
In… 17,… 16,… 4.9 4.9 50,… 45,… 9.6 9.6
To… 39,… 37,… 7.4 4.5 104… 98,… 5.4 5.3
re…
Wh… 3,5… 4,0… -13… 9,6… 9,8… -1.9
To… 43,… 41,… 5.3 113… 108… 4.8
Nu…
of
el…
re…
cu…
Re… 2,6… 2,6… 0.7
Co… 373… 372… 0.2
Go… 19,… 18,… 1.7
In… 46,… 48,… -4.6
To… 3,0… 3,0… 0.5
Ot…
O&M
and
nu…
re… $19… $19… 2.9 $20… $20… -0.2
ou…
ex…
per
MWh
Calculations may differ due to rounding
(p) The effects of weather were estimated using hourly heating degree days and
cooling degree days for the period from various locations and comparing to a
“normal” temperature range for each jurisdiction based on 20-year historical
data. The models used to estimate weather are updated periodically and are
subject to change.
For the quarter, weather-adjusted retail sales increased 4.5 percent.
Residential sales growth was 6.1 percent. Industrial sales growth was 4.9
percent, driven by higher sales to data center and primary metals customers.
Commercial sales increased 1.9 percent.
13
D: Consolidated financial measures
Appendix D provides comparative financial measures. Financial measures in this
table include those calculated and presented in accordance with GAAP, as well as
those that are considered non-GAAP financial measures.
Appendix D: GAAP and non-GAAP financial
measures
2026 vs. 2025(See Appendix F for
reconciliation of GAAP to non-GAAP
financial measures)
For 12 months ending Sept. 30 2026 2025 Change
GAAP measure
As-reported ROE 11.2% 11.4% (0.2)%
Non-GAAP financial measure
Adjusted ROE 11.3% 11.4% (0.2)%
As of Sept. 30 ($ in millions, except 2026 2025 Change
where noted)
GAAP measures
Cash and cash equivalents 4,205 1,517 2,688
Available revolver capacity 4,346 4,346 -
Commercial paper 105 1,398 -1,293
Total debt 34,936 30,563 4,373
Junior subordinated debentures 4,000 1,200 2,800
Securitization debt 213 231 -18
Total debt to total capital 63% 64% (1)%
Storm escrows 317 307 10
Non-GAAP financial measures ($ in
millions, except where noted)
FFO to adjusted debt 16.8% 16.8% -
Adjusted debt to adjusted capitalization 60% 63% (3)%
Adjusted net debt to adjusted net 56% 62% (5)%
capitalization
Gross liquidity 8,551 5,863 2,688
Net liquidity 10,907 7,846 3,061
Adjusted Parent debt to total adjusted 14% 18% (4)%
debt
Build-to-suit lease agreement (q) 1,450 - 1,450
Calculations may differ due to rounding
(q) Maximum counterparty commitment; see Form 10-K for the fiscal year ended
Dec. 2025 for additional details.
14
E: Definitions and abbreviations and acronyms
Appendix E-1 provides definitions of certain operating measures as well as GAAP
and non-GAAP financial measures.
Appendix E-1: Definitions
Utility operating and financial
measures
Number of electric retail customers Average number of electric customers
over the period
Other O&M and refueling outage Other operation and maintenance
expense expense plus nuclear refueling
per MWh outage expense per MWh of total
sales
Financial measures – GAAP
Last twelve months net income
As-reported ROE attributable to Entergy Corp.
divided by average common equity
Amount of undrawn capacity remaining
Available revolver capacity on corporate and subsidiary
revolvers
Debt on the balance sheet associated
Securitization debt with securitization bonds that is
secured by certain future customer
collections
Sum of total debt, subsidiaries’
preferred stock without sinking
Total capitalization fund, total equity, and
subsidiaries’ preferred stock
without sinking fund and
noncontrolling interests
Sum of currently maturing long-term
Total debt debt, long-term debt, notes payable
and commercial paper, and finance
lease obligations
Total debt to total capitalization Total debt divided by total
capitalization
Financial measures – non-GAAP
Adjusted capitalization Total capitalization excluding
securitization debt
Total debt excluding securitization
Adjusted debt debt and 50% of junior subordinated
debentures
Adjusted debt to adjusted Adjusted debt divided by adjusted
capitalization capitalization
Adjusted earnings (loss) As-reported earnings (loss) minus
adjustments
Adjusted earnings (loss) divided by
Adjusted EPS the diluted average number of common
shares outstanding
Adjusted net capitalization Adjusted capitalization minus cash
and cash equivalents
Adjusted net debt Adjusted debt minus cash and cash
equivalents
Adjusted net debt to adjusted net Adjusted net debt divided by
capitalization adjusted net capitalization
Entergy Corp. debt, including
amounts drawn on credit revolver and
Adjusted Parent debt commercial paper facilities plus
unamortized debt issuance costs and
discounts minus 50% of junior
subordinated debentures
Adjusted Parent debt to total Adjusted Parent debt divided by
adjusted consolidated adjusted debt
debt
Adjusted ROE Last twelve months adjusted earnings
divided by average common equity
Last twelve months adjusted
earnings, excluding dividend income
from affiliate preferred as well as
Adjusted ROE excluding affiliate the after-tax cost of debt financing
preferred for preferred investment, divided by
average common equity adjusted to
exclude the estimated equity
associated with the affiliate
preferred investment
Unusual or non-recurring items or
events or other items or events that
management believes do not reflect
the ongoing business of Entergy,
Adjustments such as significant income tax
items, certain items recorded as a
result of regulatory settlements or
decisions, and certain unusual costs
or expenses
Last twelve months OCF minus
preferred dividend requirements of
subsidiaries, working capital items
in OCF (receivables, fuel inventory,
accounts payable, taxes accrued,
FFO interest accrued, deferred fuel
costs, customer advances – current,
and other working capital accounts),
50% of interest on junior
subordinated debentures, and
securitization regulatory charges
FFO to adjusted debt Last twelve months FFO divided by
end of period adjusted debt
Gross liquidity Sum of cash and cash equivalents
plus available revolver capacity
Sum of gross liquidity, escrow
accounts available for certain storm
Net liquidity expenses, and equity sold forward
but not yet settled minus commercial
paper
15
Appendix E-2 explains abbreviations and acronyms used in the quarterly earnings
materials.
Appendix E-2:
Abbreviations and
acronyms
Louisiana Public
Additional Capacity Service Commission
Mechanism Last twelve months
Accumulated MISO Cost Recovery
deferred income Mechanism
taxes Midcontinent
Allowance for funds Independent System
used during Operator, Inc.
construction Moody’s Ratings
Arkansas Public Mississippi Public
Service Commission Service Commission
Battery and energy Nuclear
storage system decommissioning
Compound annual trust
growth rate New York Stock
Combined cycle Exchange
ACM combustion turbine Operation and
ADIT Council of the City maintenance
AFUDC of New Orleans LPSC Orange County
APSC Cash from LTM Advanced Power
BESS operations MCRM Station (CCCT)
CAGR Commercial MISO Net cash flow
CCCT operation date Moody’s provided by
CCNO Combustion turbine MPSC operating
CFO Construction work NDT activities
COD in progress NYSE Utility operating
CT Distribution Cost O&M company
CWIP Recovery Factor OCAPS Other operation
DCRF Distribution OCF and maintenance
DRM Recovery Mechanism OpCo expense
E-AR Entergy Arkansas, Other O&M Parent & Other
E-LA LLC P&O Performance
E-MS Entergy Louisiana, PMR Management Rider
E-NO LLC PPA Power purchase
E-TX Entergy PUCT agreement or
EEI Mississippi, LLC RECs purchased power
EPS Entergy New RSHCR agreement
ETR Orleans, LLC ROE Public Utility
FERC Entergy Texas, Inc. RPCR Commission of
FFO Edison Electric S&P Texas
FRP Institute SEC Renewable energy
GAAP Earnings per share SERI certificates
GCRR Entergy Corporation TAM Resilience and
GGO Federal Energy TCRF Storm Hardening
Grand Gulf or Regulatory TRM Cost Recovery
GGNS Commission VMR Return on equity
Independence Funds from WACC Resilience Plan
LDC operations Cost Recovery
Formula rate plan Rider
U.S. generally Standard & Poor’s
accepted accounting U.S. Securities
principles and Exchange
Generation Cost Commission
Recovery Rider System Energy
Geaux Green Option Resources, Inc.
Unit 1 of Grand Tax Adjustment
Gulf Nuclear Mechanism
Station (nuclear), Transmission Cost
90% owned or leased Recovery Factor
by SERI Transmission
Independence Steam Recovery Mechanism
Electric Station Vegetation
Local distribution management rider
company Weighted average
cost of capital
16
F: Other GAAP to non-GAAP reconciliations
Appendix F-1, Appendix F-2, and Appendix F-3 provide reconciliations of various
non-GAAP financial measures disclosed in this news release to their most
comparable GAAP measure.
Appendix F-1: Reconciliation of GAAP
to
non-GAAP financial measures – ROE
(LTM $ in millions except where Third quarter
noted)
2026 2025
As-reported net income attributable
to -A 2,044 1,809
Entergy Corporation
Adjustments -B -14 -5
Adjusted earnings (non-GAAP) -C)=(A-B 2,057 1,814
Average common equity (average of -D 18,231 15,847
beginning and ending balances)
As-reported ROE -A/D 11.2% 11.4%
Adjusted ROE (non-GAAP) -C/D 11.3% 11.4%
Calculations may differ due to rounding
Appendix F-2: Reconciliation of
GAAP to
non-GAAP financial measures – FFO
to
adjusted debt
($ in millions except where Third quarter
noted)
2026 2025
Total debt -A 34,936 30,563
Securitization debt -B 213 231
50% junior subordinated -C 2,000 600
debentures
Adjusted debt (non-GAAP) -D)=(A-B-C 32,723 29,733
Net cash flow provided by
operating -E 6,175 5,312
activities, LTM
Preferred dividend requirements
of -F -18 -18
subsidiaries, LTM
50% of the interest expense
associated -G -85 -43
with junior subordinated
debentures, LTM
Working capital items in net cash
flow
provided by operating activities,
LTM:
Receivables -322 -114
Fuel inventory 31 6
Accounts payable 56 269
Taxes accrued 63 64
Interest accrued 117 30
Deferred fuel costs -245 -216
Customer advances – current 1,291 445
Other working capital accounts -225 -117
Securitization regulatory 19 17
charges, LTM
Total -H 786 384
FFO, LTM (non-GAAP) -I)=(E-F-G-H 5,492 4,989
FFO to adjusted debt (non-GAAP) -I/D 16.8% 16.8%
Calculations may differ due to rounding
17
Appendix F-3: Reconciliation of
GAAP to
non-GAAP financial measures –
adjusted
debt ratios; gross liquidity; and
net
liquidity
($ in millions except where Third quarter
noted)
2026 2025
Total debt -A 34,936 30,563
Securitization debt -B 213 231
50% junior subordinated -C 2,000 600
debentures
Adjusted debt (non-GAAP) -D)=(A-B-C 32,723 29,733
Cash and cash equivalents -E 4,205 1,517
Adjusted net debt (non-GAAP) -F)=(D-E 28,518 28,216
Commercial paper -G 105 1,398
Total capitalization -H 55,047 47,539
Securitization debt -B 213 231
Adjusted capitalization -I)=(H-B 54,834 47,308
(non-GAAP)
Cash and cash equivalents -E 4,205 1,517
Adjusted net capitalization -J)=(I-E 50,629 45,791
(non-GAAP)
Total debt to total -A/H 63% 64%
capitalization
Adjusted debt to adjusted
capitalization -D/I 60% 63%
(non-GAAP)
Adjusted net debt to adjusted net -F/J 56% 62%
capitalization (non-GAAP)
Available revolver capacity -K 4,346 4,346
Storm escrows -L 317 307
Equity sold forward, not yet -M 2,144 3,075
settled (r)
Gross liquidity (non-GAAP) -N)=(E+K 8,551 5,863
Net liquidity (non-GAAP) -N-G+L+M 10,907 7,846
Entergy Corporation notes:
Due Sept. 2026 - 750
Due June 2028 650 650
Due June 2030 600 600
Due June 2031 650 650
Due June 2050 600 600
Junior subordinated debentures
due Dec. 1,200 1,200
2054
Junior subordinated debentures
due June 700 -
2056
Junior subordinated debentures
due June 600 -
2056
Junior subordinated debentures
due Dec. 750 -
2056
Junior subordinated debentures
due Dec. 750 -
2058
Total Parent long-term debt -O 6,500 4,450
Revolver drawn -P - -
Unamortized debt issuance costs
and -Q -68 -41
discounts
Total Parent debt -R)=(G+O+P+Q 6,536 5,808
Adjusted Parent debt (non-GAAP) -S)=(R-C 4,536 5,208
Adjusted Parent debt to total
adjusted -S/D 14% 18%
debt (non-GAAP)
Calculations may differ due to rounding
(r) Reflects adjustments, including for common dividends between contracting and
settlement.
18
Financial statements
Entergy
Corpora…
Consoli…
Balance
Sheet
Septemb…
30, 2026
──────────────────────────────────────────────────────────────────────────────
(Dollars
in
thousan…
(Unaudi…
Utility Parent & Consoli…
Other
ASSETS
CURRENT
ASSETS
Cash and
cash
equival…
Cash $ 59,586 $ 4,956 $ 64,542
Tempora…
cash 4,049,011 91,487 4,140,498
investm…
Total
cash and 4,108,597 96,443 4,205,040
cash
equival…
Accounts
receiva…
Customer 1,301,873 — 1,301,873
Allowan…
for -36,584 — -36,584
doubtful
accounts
Associa… 3,689 -3,689 —
compani…
Other 195,700 3,275 198,975
Accrued
unbilled 649,647 — 649,647
revenues
Total
accounts 2,114,325 -414 2,113,911
receiva…
Deferred
fuel 227,306 — 227,306
costs
Fuel
invento…
- at 117,181 1,648 118,829
average
cost
Materia…
and 1,773,995 2,618 1,776,613
supplies
Deferred
nuclear
refueli… 105,891 — 105,891
outage
costs
Prepaym…
and 650,085 -210,064 440,021
other
TOTAL 9,097,380 -109,769 8,987,611
OTHER
PROPERTY
AND
INVESTM…
Investm…
in 3,803,078 -3,803,0… —
affilia…
Decommi…
trust 6,640,318 — 6,640,318
funds
Non-uti…
property
- at
cost 472,616 6,404 479,020
(less
accumul…
depreci…
Storm
reserve 317,145 — 317,145
escrow
accounts
Other 62,096 68,510 130,606
TOTAL 11,295,2… -3,728,1… 7,567,089
PROPERT…
PLANT,
AND
EQUIPME…
Electric 77,144,4… 100,975 77,245,4…
Constru…
work in 10,756,7… 157 10,756,9…
progress
Nuclear 815,517 — 815,517
fuel
TOTAL
PROPERT…
PLANT, 88,716,7… 101,132 88,817,8…
AND
EQUIPME…
Less -
accumul…
depreci… 29,530,2… 72,960 29,603,2…
and
amortiz…
PROPERT…
PLANT,
AND 59,186,4… 28,172 59,214,6…
EQUIPME…
- NET
DEFERRED
DEBITS
AND
OTHER
ASSETS
Regulat…
assets:
Other
regulat… 4,884,562 — 4,884,562
assets
Deferred
fuel 172,201 — 172,201
costs
Goodwill 367,582 — 367,582
Accumul…
deferred 15,784 3,756 19,540
income
taxes
Other 690,683 -48,441 642,242
TOTAL 6,130,812 -44,685 6,086,127
TOTAL $ 85,709,9… $ -3,854,4… $ 81,855,4…
ASSETS
*Totals
may not
foot due
to
roundin…
19
Entergy
Corpora…
Consoli…
Balance
Sheet
Septemb…
30, 2026
──────────────────────────────────────────────────────────────────────────────
(Dollars
in
thousan…
(Unaudi…
Utility Parent & Consoli…
Other
LIABILI…
AND
EQUITY
CURRENT
LIABILI…
Current…
maturing $ 1,010,218 $ — $ 1,010,218
long-te…
debt
Notes
payable
and
commerc…
paper:
Associa… 75,564 -75,564 —
compani…
Other 27,297 104,900 132,197
Accounts
payable:
Associa… 36,058 -36,058 —
compani…
Other 2,626,536 4,136 2,630,672
Customer 495,700 — 495,700
deposits
Taxes 682,333 15,465 697,798
accrued
Interest 334,169 85,878 420,047
accrued
Deferred
fuel 23,562 — 23,562
costs
Pension
and
other 49,547 11,013 60,560
postret…
liabili…
Customer 1,832,762 — 1,832,762
advances
Other 284,532 4,086 288,618
TOTAL 7,478,278 113,856 7,592,134
NON-CUR…
LIABILI…
Accumul…
deferred
income
taxes 8,446,225 -2,036,2… 6,409,958
and
taxes
accrued
Accumul…
deferred
investm… 181,023 — 181,023
tax
credits
Regulat…
liabili…
for 1,009,678 — 1,009,678
income
taxes -
net
Other
regulat… 3,898,506 — 3,898,506
liabili…
Customer 188,398 — 188,398
advances
Decommi…
and
asset 5,119,786 709 5,120,495
retirem…
cost
liabili…
Accumul… 476,421 213 476,634
provisi…
Pension
and
other 70,721 8,763 79,484
postret…
liabili…
Long-te… 27,238,6… 6,431,503 33,670,1…
debt
Customer
advances 2,200,124 — 2,200,124
for
constru…
Other 1,328,121 -410,455 917,666
TOTAL 50,157,6… 3,994,466 54,152,0…
Subsidi…
preferr…
stock 195,161 24,249 219,410
without
sinking
fund
EQUITY
Preferr…
stock,
no par
value,
authori…
1,000,0…
shares;
issued
shares — — —
in 2026
- none
Common
stock,
$0.01
par
value,
authori…
998,000…
shares;
issued
607,671… 2,280,842 -2,274,7… 6,077
shares
in 2026
Paid-in 5,785,027 5,111,853 10,896,8…
capital
Retained 19,799,4… -6,177,7… 13,621,7…
earnings
Accumul…
other 38,843 -41,931 -3,088
compreh…
income
Less -
treasury
stock,
at cost 120,000 4,600,723 4,720,723
(129,85…
shares
in 2026)
TOTAL
SHAREHO… 27,784,1… -7,983,2… 19,800,8…
EQUITY
Subsidi…
preferr…
stock
without
sinking
fund
and
noncont… 94,760 -3,750 91,010
interes…
TOTAL 27,878,8… -7,987,0… 19,891,8…
TOTAL
LIABILI… $ 85,709,9… $ -3,854,4… $ 81,855,4…
AND
EQUITY
*Totals
may not
foot due
to
roundin…
20
Entergy
Corpora…
Consoli…
Balance
Sheet
December
31, 2025
──────────────────────────────────────────────────────────────────────────────
(Dollars
in
thousan…
(Unaudi…
Utility Parent & Consoli…
Other
ASSETS
CURRENT
ASSETS
Cash and
cash
equival…
Cash $ 39,221 $ 6,674 $ 45,895
Tempora…
cash 1,817,764 65,257 1,883,021
investm…
Total
cash and 1,856,985 71,931 1,928,916
cash
equival…
Accounts
receiva…
Customer 735,734 — 735,734
Allowan…
for -32,324 — -32,324
doubtful
accounts
Associa… 4,643 -4,643 —
compani…
Other 239,157 3,245 242,402
Accrued
unbilled 524,420 — 524,420
revenues
Total
accounts 1,471,630 -1,398 1,470,232
receiva…
Deferred
fuel 54,133 — 54,133
costs
Fuel
invento…
- at 125,480 6,494 131,974
average
cost
Materia…
and 1,705,669 4,726 1,710,395
supplies
Deferred
nuclear
refueli… 86,497 — 86,497
outage
costs
Prepaym…
and 431,881 -7,177 424,704
other
TOTAL 5,732,275 74,576 5,806,851
OTHER
PROPERTY
AND
INVESTM…
Investm…
in 4,014,624 -4,014,6… —
affilia…
Decommi…
trust 6,300,880 — 6,300,880
funds
Non-uti…
property
- at
cost 475,121 6,469 481,590
(less
accumul…
depreci…
Storm
reserve 308,784 — 308,784
escrow
accounts
Other 57,013 67,401 124,414
TOTAL 11,156,4… -3,940,7… 7,215,668
PROPERT…
PLANT,
AND
EQUIPME…
Electric 74,546,7… 204,140 74,750,9…
Constru…
work in 6,018,996 1,012 6,020,008
progress
Nuclear 834,690 — 834,690
fuel
TOTAL
PROPERT…
PLANT, 81,400,4… 205,152 81,605,6…
AND
EQUIPME…
Less -
accumul…
depreci… 28,598,5… 152,449 28,751,0…
and
amortiz…
PROPERT…
PLANT,
AND 52,801,9… 52,703 52,854,6…
EQUIPME…
- NET
DEFERRED
DEBITS
AND
OTHER
ASSETS
Regulat…
assets:
Other
regulat… 5,005,976 — 5,005,976
assets
Deferred
fuel 172,201 — 172,201
costs
Goodwill 367,582 — 367,582
Accumul…
deferred 12,311 3,229 15,540
income
taxes
Other 477,426 -25,128 452,298
TOTAL 6,035,496 -21,899 6,013,597
TOTAL $ 75,726,1… $ -3,835,3… $ 71,890,7…
ASSETS
*Totals
may not
foot due
to
roundin…
21
Entergy
Corpora…
Consoli…
Balance
Sheet
December
31, 2025
──────────────────────────────────────────────────────────────────────────────
(Dollars
in
thousan…
(Unaudi…
Utility Parent & Consoli…
Other
LIABILI…
AND
EQUITY
CURRENT
LIABILI…
Current…
maturing $ 1,625,140 $ 750,000 $ 2,375,140
long-te…
debt
Notes
payable
and
commerc…
paper:
Other 20,012 637,762 657,774
Accounts
payable:
Associa… 43,470 -43,470 —
compani…
Other 2,560,083 5,463 2,565,546
Customer 479,796 — 479,796
deposits
Taxes 526,984 -1,795 525,189
accrued
Interest 256,476 29,181 285,657
accrued
Deferred
fuel 14,562 — 14,562
costs
Pension
and
other 51,906 11,308 63,214
postret…
liabili…
Customer 632,850 — 632,850
advances
Other 218,775 4,465 223,240
TOTAL 6,430,054 1,392,914 7,822,968
NON-CUR…
LIABILI…
Accumul…
deferred
income
taxes 7,503,093 -1,910,4… 5,592,681
and
taxes
accrued
Accumul…
deferred
investm… 187,173 — 187,173
tax
credits
Regulat…
liabili…
for 1,079,699 — 1,079,699
income
taxes -
net
Other
regulat… 3,911,839 — 3,911,839
liabili…
Customer 35,000 — 35,000
advances
Decommi…
and
asset 4,943,671 3,859 4,947,530
retirem…
cost
liabili…
Accumul… 495,549 230 495,779
provisi…
Pension
and
other 70,484 43,446 113,930
postret…
liabili…
Long-te… 22,956,4… 4,945,522 27,902,0…
debt
Customer
advances 1,615,455 — 1,615,455
for
constru…
Other 1,359,531 -406,453 953,078
TOTAL 44,157,9… 2,676,192 46,834,1…
Subsidi…
preferr…
stock 195,161 24,249 219,410
without
sinking
fund
EQUITY
Preferr…
stock,
no par
value,
authori…
$1,000,…
shares;
issued
shares — — —
in 2025
- none
Common
stock,
0.01 par
value,
authori…
998,000…
shares;
issued
583,203… 2,280,842 -2,275,0… 5,832
shares
in 2025
Paid-in 5,420,248 3,559,139 8,979,387
capital
Retained 17,223,9… -4,525,5… 12,698,4…
earnings
Accumul…
other
compreh… 42,971 -45,977 -3,006
income
(loss)
Less -
treasury
stock,
at cost 120,000 4,637,573 4,757,573
(130,86…
shares
in 2025)
TOTAL
SHAREHO… 24,848,0… -7,924,9… 16,923,0…
EQUITY
Subsidi…
preferr…
stock
without
sinking
fund
and
noncont… 94,841 -3,750 91,091
interes…
TOTAL 24,942,8… -7,928,7… 17,014,1…
TOTAL
LIABILI… $ 75,726,1… $ -3,835,3… $ 71,890,7…
AND
EQUITY
*Totals
may not
foot due
to
roundin…
22
Ent…
Cor…
Con…
Inc…
Sta…
Thr…
Mon…
End…
Sep…
30,
2026
──────────────────────────────────────────────────────────────────────────────
(Do…
in
tho…
(Un…
Parent
Util… & Cons…
Other
OPE…
REV…
Ele… $ 4,35… $ — $ 4,352…
Oth… — 12,2… 12,265
Tot… 4,35… 12,2… 4,365…
OPE…
EXP…
Ope…
and
Mai…
Fue…
fuel
rel…
exp…
and 722,… 2,586 725,5…
gas
pur…
for
res…
Pur… 458,… 5,815 464,0…
pow…
Nuc…
ref… 29,8… — 29,851
out…
exp…
Oth…
ope… 825,… 7,605 832,8…
and
mai…
Dec… 60,1… 15 60,208
Tax…
oth…
than 240,… 586 241,1…
inc…
tax…
Dep…
and 550,… 496 551,4…
amo…
Oth…
reg…
cha… -20,… — -20,9…
(cr…
-
net
Tot… 2,86… 17,1… 2,884…
OPE… 1,48… -4,8… 1,481…
INC…
OTH…
INC…
(DE…
All…
for
equ…
fun… 61,4… — 61,413
used
dur…
con…
Int…
and 163,… -63,… 100,2…
inv…
inc…
Mis…
- 17,8… -948 16,921
net
Tot… 243,… -64,… 178,6…
INT…
EXP…
Int… 371,… 89,8… 460,9…
exp…
All…
for
bor…
fun… -25,… — -25,3…
used
dur…
con…
Tot… 345,… 89,8… 435,5…
INC…
BEF… 1,38… -159… 1,224…
INC…
TAX…
Inc… 299,… -20,… 278,6…
tax…
CON…
NET 1,08… -138… 945,5…
INC…
Pre…
div…
req…
of 4,755 499 5,254
sub…
and
non…
int…
NET
INC…
ATT… $ 1,07… $ -139… $ 940,3…
TO
ENT…
COR…
EAR…
PER
AVE…
COM…
SHA…
BAS… $2.30 -$0.30 $2.00
DIL… $2.28 -$0.29 $1.98
AVE…
NUM…
OF
COM…
SHA…
OUT…
BAS… 470,…
DIL… 474,…
*To…
may
not
foot
due
to
rou…
23
Ent…
Cor…
Con…
Inc…
Sta…
Thr…
Mon…
End…
Sep…
30,
2025
──────────────────────────────────────────────────────────────────────────────
(Do…
in
tho…
(Un…
Parent
Util… & Cons…
Other
OPE…
REV…
Ele… $ 3,79… $ — $ 3,797…
Nat… 155 — 155
gas
Oth… — 14,6… 14,687
Tot… 3,79… 14,687 3,81…
OPE…
EXP…
Ope…
and
Mai…
Fue…
fuel
rel…
exp…
and 817,… 5,760 822,7…
gas
pur…
for
res…
Pur… 265,… 4,111 269,7…
pow…
Nuc…
ref… 25,2… — 25,225
out…
exp…
Oth…
ope… 763,… 7,200 771,1…
and
mai…
Ass…
wri…
imp… 12,7… — 12,795
and
rel…
cha…
Dec… 57,2… 81 57,313
Tax…
oth…
than 231,… 579 232,3…
inc…
tax…
Dep…
and 523,… 1,637 525,3…
amo…
Oth…
reg…
cha… -23,… — -23,8…
(cr…
-
net
Tot… 2,67… 19,3… 2,692…
OPE… 1,12… -4,6… 1,119…
INC…
OTH…
INC…
(DE…
All…
for
equ…
fun… 53,8… — 53,887
used
dur…
con…
Int…
and 177,… -71,… 106,0…
inv…
inc…
Mis…
- -49,… -955 -50,4…
net
Tot… 182,… -72,… 109,5…
INT…
EXP…
Int… 290,… 56,7… 346,9…
exp…
All…
for
bor…
fun… -22,… — -22,1…
used
dur…
con…
Tot… 268,… 56,7… 324,8…
INC…
BEF… 1,03… -133… 903,7…
INC…
TAX…
Inc… 223,… -17,… 205,3…
tax…
CON…
NET 814,… -116… 698,4…
INC…
Pre…
div…
req…
of 4,125 499 4,624
sub…
and
non…
int…
NET
INC…
ATT… $ 810,… $ -116… $ 693,8…
TO
ENT…
COR…
EAR…
PER
AVE…
COM…
SHA…
BAS… $1.82 -$0.26 $1.55
DIL… $1.79 -$0.26 $1.53
AVE…
NUM…
OF
COM…
SHA…
OUT…
BAS… 446,…
DIL… 453,…
*To…
may
not
foot
due
to
rou…
24
Ent…
Cor…
Con…
Inc…
Sta…
Nine
Mon…
End…
Sep…
30,
2026
──────────────────────────────────────────────────────────────────────────────
(Do…
in
tho…
(Un…
Parent
Util… & Cons…
Other
OPE…
REV…
Ele… $ 11,0… $ — $ 11,03…
Oth… — 39,7… 39,768
Tot… 11,0… 39,768 11,0…
OPE…
EXP…
Ope…
and
Mai…
Fue…
fuel
rel…
exp…
and 2,08… 11,6… 2,096…
gas
pur…
for
res…
Pur… 1,12… 12,3… 1,134…
pow…
Nuc…
ref… 82,4… — 82,427
out…
exp…
Oth…
ope… 2,24… 31,4… 2,277…
and
mai…
Ass…
wri…
imp… — 18,0… 18,059
and
rel…
cha…
Dec… 178,… 162 178,5…
Tax…
oth…
than 660,… 1,798 662,4…
inc…
tax…
Dep…
and 1,63… 2,505 1,639…
amo…
Oth…
reg…
cha… 82,9… — 82,971
(cr…
-
net
Tot… 8,09… 77,9… 8,172…
OPE… 2,94… -38,… 2,903…
INC…
OTH…
INC…
(DE…
All…
for
equ…
fun… 163,… — 163,4…
used
dur…
con…
Int…
and 690,… -199… 491,0…
inv…
inc…
Mis…
- 1,073 -11,… -10,1…
net
Tot… 855,… -210… 644,4…
INT…
EXP…
Int… 1,04… 248,… 1,293…
exp…
All…
for
bor…
fun… -68,… — -68,4…
used
dur…
con…
Tot… 977,… 248,… 1,225…
INC…
BEF… 2,81… -497… 2,322…
INC…
TAX…
Inc… 559,… -61,… 498,1…
tax…
CON…
NET 2,25… -435… 1,824…
INC…
Pre…
div…
req…
of 14,8… 1,497 16,356
sub…
and
non…
int…
NET
INC…
ATT… $ 2,24… $ -437… $ 1,807…
TO
ENT…
COR…
EAR…
PER
AVE…
COM…
SHA…
BAS… $4.86 -$0.95 $3.92
DIL… $4.80 -$0.93 $3.86
AVE…
NUM…
OF
COM…
SHA…
OUT…
BAS… 461,…
DIL… 467,…
*To…
may
not
foot
due
to
rou…
25
Ent…
Cor…
Con…
Inc…
Sta…
Nine
Mon…
End…
Sep…
30,
2025
──────────────────────────────────────────────────────────────────────────────
(Do…
in
tho…
(Un…
Parent
Util… & Cons…
Other
OPE…
REV…
Ele… $ 9,82… $ — $ 9,829…
Nat… 112,… — 112,6…
gas
Oth… — 45,0… 45,090
Tot… 9,94… 45,090 9,98…
OPE…
EXP…
Ope…
and
Mai…
Fue…
fuel
rel…
exp…
and 1,78… 15,8… 1,803…
gas
pur…
for
res…
Pur… 980,… 11,0… 991,5…
pow…
Nuc…
ref… 87,8… — 87,879
out…
exp…
Oth…
ope… 2,13… 28,5… 2,168…
and
mai…
Ass…
wri…
imp… 12,7… — 12,795
and
rel…
cha…
Dec… 169,… 237 169,8…
Tax…
oth…
than 630,… 2,189 632,9…
inc…
tax…
Dep…
and 1,55… 4,932 1,560…
amo…
Oth…
reg…
cha… -96,… — -96,6…
(cr…
-
net
Tot… 7,26… 62,7… 7,331…
OPE… 2,67… -17,… 2,656…
INC…
OTH…
INC…
(DE…
All…
for
equ…
fun… 149,… — 149,2…
used
dur…
con…
Int…
and 445,… -218… 226,9…
inv…
inc…
Mis…
- -74,… -5,1… -79,4…
net
Tot… 519,… -223… 296,7…
INT…
EXP…
Int… 857,… 180,… 1,038…
exp…
All…
for
bor…
fun… -61,… — -61,7…
used
dur…
con…
Tot… 796,… 180,… 976,7…
INC…
BEF… 2,39… -421… 1,976…
INC…
TAX…
Inc… 490,… -46,… 443,7…
tax…
CON…
NET 1,90… -375… 1,532…
INC…
Pre…
div…
req…
of 8,813 1,497 10,310
sub…
and
non…
int…
NET
INC…
ATT… $ 1,89… $ -376… $ 1,522…
TO
ENT…
COR…
EAR…
PER
AVE…
COM…
SHA…
BAS… $4.33 -$0.86 $3.47
DIL… $4.25 -$0.84 $3.40
AVE…
NUM…
OF
COM…
SHA…
OUT…
BAS… 438,…
DIL… 447,…
*To…
may
not
foot
due
to
rou…
26
Ent…
Cor…
Con…
Inc…
Sta…
Twe…
Mon…
End…
Sep…
30,
2026
──────────────────────────────────────────────────────────────────────────────
(Do…
in
tho…
(Un…
Parent
Util… & Cons…
Other
OPE…
REV…
Ele… $ 13,9… $ — $ 13,98…
Nat… -57 — -57
gas
Oth… — 53,4… 53,443
Tot… 13,9… 53,443 14,0…
OPE…
EXP…
Ope…
and
Mai…
Fue…
fuel
rel…
exp…
and 2,63… 16,9… 2,652…
gas
pur…
for
res…
Pur… 1,36… 14,5… 1,383…
pow…
Nuc…
ref… 107,… — 107,9…
out…
exp…
Oth…
ope… 3,11… 44,9… 3,164…
and
mai…
Ass…
wri…
imp… — 18,0… 18,059
and
rel…
cha…
Dec… 236,… 245 236,6…
Tax…
oth…
than 845,… 2,373 848,1…
inc…
tax…
Dep…
and 2,15… 4,211 2,156…
amo…
Oth…
reg…
cha… 18,0… — 18,040
(cr…
-
net
Tot… 10,4… 101,… 10,58…
OPE… 3,49… -47,… 3,449…
INC…
OTH…
INC…
(DE…
All…
for
equ…
fun… 195,… — 195,0…
used
dur…
con…
Int…
and 850,… -269… 581,4…
inv…
inc…
Mis…
- -10,… -12,… -23,1…
net
Tot… 1,03… -281… 753,3…
INT…
EXP…
Int… 1,34… 318,… 1,668…
exp…
All…
for
bor…
fun… -83,… — -83,0…
used
dur…
con…
Tot… 1,26… 318,… 1,585…
INC…
BEF… 3,26… -648… 2,617…
INC…
TAX…
Inc… 620,… -68,… 552,3…
tax…
CON…
NET 2,64… -579… 2,064…
INC…
Pre…
div…
req…
of 19,1… 1,997 21,102
sub…
and
non…
int…
NET
INC…
ATT… $ 2,62… $ -581… $ 2,043…
TO
ENT…
COR…
EAR…
PER
AVE…
COM…
SHA…
BAS… $5.72 -$1.27 $4.45
DIL… $5.64 -$1.25 $4.39
AVE…
NUM…
OF
COM…
SHA…
OUT…
BAS… 459,…
DIL… 465,…
*To…
may
not
foot
due
to
rou…
27
Ent…
Cor…
Con…
Inc…
Sta…
Twe…
Mon…
End…
Sep…
30,
2025
──────────────────────────────────────────────────────────────────────────────
(Do…
in
tho…
(Un…
Parent
Util… & Cons…
Other
OPE…
REV…
Ele… $ 12,5… $ — $ 12,50…
Nat… 157,… — 157,3…
gas
Oth… — 65,3… 65,308
Tot… 12,6… 65,308 12,7…
OPE…
EXP…
Ope…
and
Mai…
Fue…
fuel
rel…
exp…
and 2,24… 26,7… 2,273…
gas
pur…
for
res…
Pur… 1,16… 19,0… 1,188…
pow…
Nuc…
ref… 122,… — 122,0…
out…
exp…
Oth…
ope… 2,91… 44,8… 2,954…
and
mai…
Ass…
wri…
imp…
and 12,7… -24,… -11,8…
rel…
cha…
(cr…
Dec… 226,… 313 226,9…
Tax…
oth…
than 810,… 2,820 813,7…
inc…
tax…
Dep…
and 2,06… 6,637 2,070…
amo…
Oth…
reg…
cha… -234… — -234,…
(cr…
-
net
Tot… 9,32… 75,7… 9,403…
OPE… 3,33… -10,… 3,326…
INC…
OTH…
INC…
(DE…
All…
for
equ…
fun… 193,… — 193,0…
used
dur…
con…
Int…
and 533,… -293… 240,1…
inv…
inc…
Mis…
- -100… -8,9… -109,…
net
Tot… 626,… -302… 324,0…
INT…
EXP…
Int… 1,10… 245,… 1,354…
exp…
All…
for
bor…
fun… -78,… — -78,8…
used
dur…
con…
Tot… 1,02… 245,… 1,275…
INC…
BEF… 2,93… -558… 2,374…
INC…
TAX…
Inc… 621,… -66,… 554,6…
tax…
CON…
NET 2,31… -491… 1,819…
INC…
Pre…
div…
req…
of 9,028 1,997 11,025
sub…
and
non…
int…
NET
INC…
ATT… $ 2,30… $ -493… $ 1,808…
TO
ENT…
COR…
EAR…
PER
AVE…
COM…
SHA…
BAS… $5.28 -$1.13 $4.15
DIL… $5.18 -$1.11 $4.07
AVE…
NUM…
OF
COM…
SHA…
OUT…
BAS… 436,…
DIL… 444,…
*To…
may
not
foot
due
to
rou…
28
Entergy
Corporation
Consolidated
Cash Flow
Statement
Three Months
Ended
September
30, 2026 vs.
2025
──────────────────────────────────────────────────────────────────────────────
(Dollars in
thousands)
(Unaudited)
2026 2025 Variance
OPERATING
ACTIVITIES
Consolidated $ 945,569 $ 698,424 $ 247,145
net income
Adjustments
to reconcile
consolidated
net income
to net cash
flow
provided by
operating
activities:
Depreciatio…
amortizatio…
and
decommissio… 680,991 646,204 34,787
including
nuclear fuel
amortization
Deferred
income
taxes, tax
credits, and 500,805 615,477 -114,672
non-current
taxes
accrued
Asset
write-offs,
impairments, — 12,795 -12,795
and
related
charges
Changes in
working
capital:
Receivables -406,885 -114,995 -291,890
Fuel 18,824 25,689 -6,865
inventory
Accounts -96,824 73,523 -170,347
payable
Taxes 160,408 166,285 -5,877
accrued
Interest 88,882 20,824 68,058
accrued
Deferred -32,601 73,247 -105,848
fuel costs
Customer
advances - 362,706 -10,378 373,084
current
Other
working 6,685 -13,022 19,707
capital
accounts
Changes in
provisions
for 4,465 12,910 -8,445
estimated
losses
Changes in
other -12,856 130,228 -143,084
regulatory
assets
Changes in
other -116,346 123,808 -240,154
regulatory
liabilities
Change in
customer 18,100 — 18,100
advances -
non-current
Changes in
pension and
other -45,413 -48,916 3,503
postretirem…
funded
status
Other 158,424 -277,308 435,732
Net cash
flow
provided by 2,234,934 2,134,795 100,139
operating
activities
INVESTING
ACTIVITIES
Constructio… -2,712,543 -1,888,823 -823,720
expenditures
Allowance
for equity
funds used 61,413 44,854 16,559
during
construction
Nuclear fuel -67,105 -36,990 -30,115
purchases
Payment for
purchase of — -1,909 1,909
plant
Proceeds
from sale of — 506,781 -506,781
business and
assets
Changes in
securitizat… -8,647 -8,020 -627
account
Payments to
storm
reserve -2,810 -3,172 362
escrow
accounts
Decrease
(increase) -8,395 -45,110 36,715
in other
investments
Proceeds
from nuclear
decommissio… 510,373 378,343 132,030
trust fund
sales
Investment
in nuclear -520,719 -416,497 -104,222
decommissio…
trust funds
Net cash
flow used in -2,748,433 -1,470,543 -1,277,890
investing
activities
FINANCING
ACTIVITIES
Proceeds
from the
issuance of:
Long-term 3,030,999 523,969 2,507,030
debt
Treasury 1,755 10,728 -8,973
stock
Common stock 912,458 — 912,458
Retirement
of long-term -1,414,493 -1,429,366 14,873
debt
Changes in
commercial -1,437,299 939,289 -2,376,588
paper - net
Customer
advances 385,951 99,188 286,763
received for
construction
Customer
advances -305,190 -188,224 -116,966
used for
construction
Other -6,454 -5,979 -475
Dividends
paid:
Common stock -298,653 -267,939 -30,714
Preferred -4,580 -4,580 —
stock
Net cash
flow
provided by 864,494 -322,914 1,187,408
financing
activities
Net increase
in cash and 350,995 341,338 9,657
cash
equivalents
Cash and
cash
equivalents 3,854,045 1,175,631 2,678,414
at beginning
of period
Cash and
cash
equivalents $ 4,205,040 $ 1,516,969 $ 2,688,071
at end of
period
SUPPLEMENTAL
DISCLOSURE
OF CASH FLOW
INFORMATION:
Cash paid
(received)
during the
period
for:
Interest -
net of $ 327,199 $ 315,677 $ 11,522
amount
capitalized
Income taxes
- net
(includes
proceeds
from the
transfer of $ -222,357 $ -405,174 $ 182,817
production
tax
credits to
third
parties)
Noncash
investing
activities:
Accrued
construction $ -94,155 $ -31,537 $ -62,618
expenditures
29
Entergy
Corporation
Consolidated
Cash Flow
Statement
Year to Date
September
30, 2026 vs.
2025
──────────────────────────────────────────────────────────────────────────────
(Dollars in
thousands)
(Unaudited)
2026 2025 Variance
OPERATING
ACTIVITIES
Consolidated $ 1,824,194 $ 1,532,800 $ 291,394
net income
Adjustments
to reconcile
consolidated
net income
to net cash
flow
provided by
operating
activities:
Depreciatio…
amortizatio…
and
decommissio… 2,007,130 1,901,408 105,722
including
nuclear fuel
amortization
Deferred
income
taxes, tax
credits, and 721,695 846,751 -125,056
non-current
taxes
accrued
Asset
write-offs,
impairments, 18,059 12,795 5,264
and
related
charges
Changes in
working
capital:
Receivables -632,376 -390,040 -242,336
Fuel 13,145 20,837 -7,692
inventory
Accounts 37,294 20,084 17,210
payable
Taxes 172,609 177,515 -4,906
accrued
Interest 134,390 43,691 90,699
accrued
Deferred -164,173 -189,958 25,785
fuel costs
Customer
advances - 1,103,683 293,414 810,269
current
Other
working -112,081 -71,842 -40,239
capital
accounts
Changes in
provisions
for -19,145 -25,534 6,389
estimated
losses
Changes in
other 121,414 304,751 -183,337
regulatory
assets
Changes in
other -83,354 143,848 -227,202
regulatory
liabilities
Change in
customer 153,398 25,000 128,398
advances -
non-current
Changes in
pension and
other -150,808 -153,884 3,076
postretirem…
funded
status
Other -188,387 -559,051 370,664
Net cash
flow
provided by 4,956,687 3,932,585 1,024,102
operating
activities
INVESTING
ACTIVITIES
Constructio… -7,743,362 -5,557,149 -2,186,213
expenditures
Allowance
for equity
funds used 163,494 128,015 35,479
during
construction
Nuclear fuel -266,873 -166,114 -100,759
purchases
Payment for
purchase of -263 -3,517 3,254
plant and
assets
Proceeds
from sale of — 506,781 -506,781
business and
assets
Insurance
proceeds
received for 14,282 — 14,282
property
damages
Changes in
securitizat… -8,432 -4,711 -3,721
account
Payments to
storm
reserve -8,361 -9,980 1,619
escrow
accounts
Receipts
from storm
reserve — 43,789 -43,789
escrow
accounts
Decrease
(increase) 57,153 -46,769 103,922
in other
investments
Litigation
proceeds for
reimburseme…
of — 3,546 -3,546
spent
nuclear fuel
storage
costs
Proceeds
from nuclear
decommissio… 2,058,540 1,091,445 967,095
trust fund
sales
Investment
in nuclear -2,107,557 -1,196,708 -910,849
decommissio…
trust funds
Net cash
flow used in -7,841,379 -5,211,372 -2,630,007
investing
activities
FINANCING
ACTIVITIES
Proceeds
from the
issuance of:
Long-term 7,656,847 4,041,918 3,614,929
debt
Treasury 13,289 35,267 -21,978
stock
Common stock 1,929,629 804,631 1,124,998
Retirement
of long-term -3,279,359 -3,029,094 -250,265
debt
Changes in
commercial -525,577 487,603 -1,013,180
paper - net
Customer
advances 1,271,818 831,642 440,176
received for
construction
Customer
advances -741,411 -433,705 -307,706
used for
construction
Other -266,129 -3,815 -262,314
Dividends
paid:
Common stock -884,552 -784,655 -99,897
Preferred -13,739 -13,739 —
stock
Net cash
flow
provided by 5,160,816 1,936,053 3,224,763
financing
activities
Net increase
in cash and 2,276,124 657,266 1,618,858
cash
equivalents
Cash and
cash
equivalents 1,928,916 859,703 1,069,213
at beginning
of period
Cash and
cash
equivalents $ 4,205,040 $ 1,516,969 $ 2,688,071
at end of
period
SUPPLEMENTAL
DISCLOSURE
OF CASH FLOW
INFORMATION:
Cash paid
(received)
during the
period
for:
Interest -
net of $ 1,011,196 $ 963,577 $ 47,619
amount
capitalized
Income taxes
- net
(includes
proceeds
from the
transfer of $ -224,658 $ -402,687 $ 178,029
production
tax
credits to
third
parties)
Noncash
investing
activities:
Accrued
construction $ 908,486 $ 545,455 $ 363,031
expenditures
30
Entergy
Corporation
Consolidated
Cash Flow
Statement
Twelve
Months Ended
September
30, 2026 vs.
2025
──────────────────────────────────────────────────────────────────────────────
(Dollars in
thousands)
(Unaudited)
2026 2025 Variance
OPERATING
ACTIVITIES
Consolidated $ 2,064,722 $ 1,819,962 $ 244,760
net income
Adjustments
to reconcile
consolidated
net income
to net cash
flow
provided by
operating
activities:
Depreciatio…
amortizatio…
and
decommissio… 2,642,860 2,523,712 119,148
including
nuclear fuel
amortization
Deferred
income
taxes, tax
credits, and 890,453 932,763 -42,310
non-current
taxes
accrued
Asset
write-offs,
impairments,
and 18,059 -11,846 29,905
related
charges
(credits)
Pension
settlement — 2,937 -2,937
charge
Changes in
working
capital:
Receivables -322,169 -113,864 -208,305
Fuel 31,235 6,082 25,153
inventory
Accounts 55,965 269,191 -213,226
payable
Taxes 63,177 63,596 -419
accrued
Interest 116,802 30,210 86,592
accrued
Deferred -245,324 -215,743 -29,581
fuel costs
Customer
advances - 1,291,456 445,076 846,380
current
Other
working -224,712 -117,208 -107,504
capital
accounts
Changes in
provisions
for -3,895 -1,367 -2,528
estimated
losses
Changes in
other 101,577 501,221 -399,644
regulatory
assets
Changes in
other -46,391 237,956 -284,347
regulatory
liabilities
Change in
customer 163,398 25,000 138,398
advances -
non-current
Changes in
pension and
other -275,110 -431,659 156,549
postretirem…
funded
status
Other -147,350 -653,751 506,401
Net cash
flow
provided by 6,174,753 5,312,267 862,485
operating
activities
INVESTING
ACTIVITIES
Constructio… -9,871,135 -7,130,632 -2,740,503
expenditures
Allowance
for equity
funds used 216,205 171,865 44,340
during
construction
Nuclear fuel -353,671 -268,825 -84,846
purchases
Payment for
purchase of -263 -280,913 280,650
plant
Proceeds
from sale of 351,807 506,781 -154,974
business and
assets
Insurance
proceeds
received for 14,282 — 14,282
property
damages
Changes in
securitizat… -887 2,226 -3,113
account
Payments to
storm
reserve -13,275 -14,033 758
escrow
accounts
Receipts
from storm
reserve 2,781 43,789 -41,008
escrow
accounts
Decrease
(increase) -9,466 -50,369 40,903
in other
investments
Litigation
proceeds for
reimburseme…
of — 85,958 -85,958
spent
nuclear fuel
storage
costs
Proceeds
from nuclear
decommissio… 2,477,092 2,177,248 299,844
trust fund
sales
Investment
in nuclear -2,552,931 -2,301,862 -251,069
decommissio…
trust funds
Net cash
flow used in -9,739,461 -7,058,767 -2,680,694
investing
activities
FINANCING
ACTIVITIES
Proceeds
from the
issuance of:
Long-term 9,365,374 4,999,024 4,366,350
debt
Treasury 14,663 75,613 -60,950
stock
Common stock 2,261,101 804,631 1,456,470
Retirement
of long-term -3,752,065 -3,883,239 131,174
debt
Changes in
commercial -1,282,697 292,485 -1,575,182
paper - net
Customer
advances 2,083,941 1,143,195 940,746
received for
construction
Customer
advances -970,602 -505,894 -464,708
used for
construction
Other -274,569 -13,500 -261,069
Dividends
paid:
Common stock -1,174,048 -1,042,339 -131,709
Preferred -18,319 -18,319 —
stock
Net cash
flow
provided by 6,252,779 1,851,657 4,401,122
financing
activities
Net increase
in cash and 2,688,071 105,157 2,582,913
cash
equivalents
Cash and
cash
equivalents 1,516,969 1,411,812 105,157
at beginning
of period
Cash and
cash
equivalents $ 4,205,040 $ 1,516,969 $ 2,688,071
at end of
period
SUPPLEMENTAL
DISCLOSURE
OF CASH FLOW
INFORMATION:
Cash paid
(received)
during the
period
for:
Interest -
net of $ 1,285,903 $ 1,282,935 $ 2,968
amount
capitalized
Income taxes
- net
(includes
proceeds
from the
transfer of $ -337,042 $ -369,925 $ 32,883
production
tax
credits to
third
parties)
Noncash
investing
activities:
Accrued
construction $ 1,163,078 $ 740,732 $ 422,346
expenditures
31