Entergy Posts Q1 EPS $0.86, Raises Capex Plan to $57B and Secures $2B Meta Deal
Entergy reported Q1 adjusted EPS of $0.86 with industrial sales up 15% and a retail sales CAGR of 8.5% through 2029. The company raised its four-year capital plan to $57 billion, secured $1.9 billion of $6.6 billion equity needs and inked a $2 billion Electric Service Agreement with Meta.
1. Q1 Financial Results
Entergy delivered adjusted EPS of $0.86, driven by 15% industrial sales growth in the quarter and a retail sales CAGR projected at 8.5% through 2029. Higher depreciation, taxes, and interest expenses partially offset results.
2. Meta Electric Service Agreement
The company signed a $2 billion Electric Service Agreement with Meta under its Fair Share Plus program, securing long-term data center demand and anticipated community benefits.
3. Expanded Capital Plan and Funding
Entergy increased its four-year capital plan to $57 billion, allocating a $14 billion boost primarily to support the Meta deal. Equity requirements total $6.6 billion, with $1.9 billion already contracted, aiming to maintain FFO to debt above 15%.
4. Outlook and Risks
Future adjusted EPS guidance was affirmed with a $0.20 increase for next year and a 2030 growth target of 12%. Regulatory approvals and large-scale project execution remain key risks to delivery and credit metrics.