Credit ratings and outlooks remain strong, with liquidity including $2.3 billion of unsettled equity forwards available if needed.
Entergy reported second quarter adjusted earnings per share (EPS) of $1.05, keeping the company on track with its 2025 guidance.
Nuclear tax credits of approximately $570 million were recorded as an uncertain tax position, expected to be monetized later in the year.
Primary earnings drivers included investments for customers, higher retail sales volume, and increased other income, partially offset by higher other O&M and MISO capacity costs at Entergy Texas.
The company settled approximately $800 million of equity forwards in the quarter, using proceeds to invest in customer projects.
Weather-adjusted retail sales growth was strong at 4.5%, with industrial sales contributing nearly 12% growth primarily from new and expanding customers.
Consolidated capital spending rose 22% to $2.6 billion, with 86% dedicated to safety and reliability improvements.
Fiscal year-to-date net income reached $1 billion or $6.40 per diluted share, up from $6.00 per diluted share in the prior year period.
Liquidity remains strong at approximately $5.5 billion, including $1.7 billion from forward sale agreements.
Operating income increased by $322 million due to regulatory outcomes, with additional $22 million from residential customer growth and industrial load increases.
Weighted-average cost of debt stands at 4.17% with a weighted-average maturity of approximately 17 years.
Adjusted earnings per share (EPS) for Q2 2025 increased 21% year-over-year to $1.04, marking the fourth consecutive quarterly increase following the Florida City Gas acquisition.
Adjusted gross margin rose 13% to approximately $143 million, driven by investments in transmission and distribution infrastructure, organic growth, and regulatory initiatives.
Adjusted net income increased 26% to approximately $24 million compared to Q2 2024.
Depreciation and amortization expenses increased by $0.14 per share, reflecting the absence of RSAM-related depreciation expense reduction this quarter compared to last year.
Regulated segment adjusted gross margin grew 14% to about $118 million, with operating income up 28% to approximately $52 million.
Unregulated Energy segment's adjusted gross margin increased 7% to approximately $25 million, supported by Marlin Virtual Pipeline services and Full Circle Dairy RNG production.
Dafinchi