Entergy Corporation Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarterly Performance Highlights

  • Adjusted EPS was $2.45, slightly above Q3 2020 levels.
  • FY2021 EPS guidance narrowed to $5.90–$6.10 (from prior broader range).
  • Entergy reaffirmed 5%–7% adjusted EPS growth outlook and extended guidance through 2024.
  • Dividend increased 6% to $1.01 per share, aligned with earnings growth.

Operational and Storm Impacts

  • Hurricane Ida significantly impacted the quarter with roughly $65 million in non-fuel revenue losses (vs. ~$32 million estimated for Q3 2020 Hurricane Laura).
  • Total Ida restoration costs updated to $2.1–$2.5 billion, reduced from the prior upper range.
  • Restoration highlights:
    • Peak outages near 1 million customers.
    • 50% of customers restored within just over a week.
    • New Orleans and Baton Rouge essentially restored by day 10.
    • 98% restored within 3 weeks.
  • Entergy deployed 165 large-scale generators for critical community needs.
  • Company and shareholders committed $1.2–$1.5 million to community recovery.

Financial and Regulatory Developments

  • Industrial billed sales up 10% year-over-year, with strength across metals, petrochemicals, transportation, gases, and chlor-alkali sectors.

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Operator: Ladies and gentlemen, thank you for standing by and welcome to the Entergy Corporation, Third Quarter 2021 Earnings Release and Teleconference. At this time, all participants are in listen-only mode. After the speakers presentation, there will be a question-and-answer session. During the session will need to press star one on your telephone. If you require any further assistance, please press star 0. I would now like to turn the call over to your host, Bill April or Vice President Investor Relations you may begin. Bill Abler: Good morning. And thank you for joining us. We will begin today with comments from Entergy's Chairman and CEO, William Renault, and then Drew Marsh, our CFO, will review results. In an effort to accommodate everyone who has questions we request that each person ask not more than two questions. In today's call, management will make certain forward-looking statements. Actual results could differ materially from those forward-looking statements due to a number of factors which are set forth in our earnings release, our slide presentation, and our SCC filings. Entergy does not assume any obligation to update these forward-looking statements. Management will also discuss non-GAAP financial information, reconciliations to the applicable GAAP measures are included in today's press release and slide presentation, both of which can be found on the Investor Relations section of our website. And now I will turn the call over to Leo (ph). Leo Denault: Tha

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