Entergy reported strong 2025 results, with adjusted EPS at $3.91, and reaffirmed a very bullish long-term growth outlook of >8% EPS CAGR through 2029. The company is on a massive $43 billion capex plan, driven by unprecedented data center demand. FY2025 Adjusted EPS: $3.91 (top half of guidance).
Entergy reported strong 2025 results, with adjusted EPS at $3.91, and reaffirmed a very bullish long-term growth outlook of >8% EPS CAGR through 2029. The company is on a massive $43 billion capex plan, driven by unprecedented data center demand. FY2025 Adjusted EPS: $3.91 (top half of guidance).
Management reiterates strong growth targets, highlights record economic development wins and constructive regulatory progress, and expresses confidence in the pipeline and execution capabilities.
Retail sales CAGR raised to 8% through 2029. Management reiterates strong growth targets, highlights record economic development wins and constructive regulatory progress, and expresses confidence in the pipeline and execution capabilities.
Management raised the four-year capital plan to $43 billion through 2029, up $2 billion from the preliminary plan, with 2026 capital of $11.6 billion. The increase largely reflects the proposed Cottonwood acquisition, and the plan funds new gas, solar, battery storage, and…
Capital plan increased by ~$2B to $43B through 2029, largely due to the pending Cottonwood facility acquisition.
Retail sales CAGR raised to 8% through 2029. Management reiterates strong growth targets, highlights record economic development wins and constructive regulatory progress, and expresses confidence in the pipeline and execution capabilities.
Management raised the four-year capital plan to $43 billion through 2029, up $2 billion from the preliminary plan, with 2026 capital of $11.6 billion. The increase largely reflects the proposed Cottonwood acquisition, and the plan funds new gas, solar, battery storage, and transmission investments to support customer growth.
Management reiterates strong growth targets, highlights record economic development wins and constructive regulatory progress, and expresses confidence in the pipeline and execution capabilities.
“We have clear line of sight on equipment to serve 8 gigawatts of incremental load above our current plan.”
“Our preliminary estimate for restoration costs is up to $300 million for Louisiana, up to $200 million for Mississippi, and approximately $60 million for Arkansas, the majority of the cost being capital.”
“We expect 8% retail sales compound annual growth, driven by 15% industrial growth through 2029.”
“Currently, we are exploring new rate offerings, such as demand response and time-of-use rates, to complement our average bill and deferred payment options.”
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Capex | FY2029 | $43B | $43B | RAISED |
A special rate contract with Google was approved, indicating Google's cloud/data center expansion in Arkansas will proceed, providing a firm revenue base for Entergy.
“The Arkansas Public Service Commission approved the special rate contract for Google.”
… broader Lightning Speed Initiative to better coordinate among critical state permitting offices allow us to bring new customers online faster, which will attract new business to Louisiana. You may recall that Arkansas and Mississippi also adopted rules and processes to foster economic development and attract projects that have speed to market as a top priority. There are a few other regulatory updates since our last earnings call that I'd like to highlight. The Arkansas Public Service Commission approved the special rate contract for Google. They also approved construction of the Jefferson Power Station and established a benchmark against which to measure the cost. In December, Entergy Louisiana filed a request to acquire the Cottonwood facility with an upfront purchase price of $1.5 billion, as well as $300 million of investment for maintenance and improvements. This is an attractive opportunity to acquire additional energy and capacity sooner and at a lower cost than a new build alternative, as Louisiana continues to experience significant customer growth. We requested a decision from the LPSC by the end of this year to allow for an acquisition early next year. In …
Hyundai Steel's large planned investment is starting to move forward, highlighting the industrialization of the Gulf South beyond data centers.
“with Hyundai Steel's $5.8 billion planned investment in Ascension Parish, Louisiana earned Business Facilities' Platinum Deal of the Year”
… through 2029, from 2025 and driven by 15% industrial growth. Last year, we signed electric service agreements totaling approximately three and a half gigawatts. There were several noteworthy customer announcements, which give us confidence in our outlooks for growth from data centers and traditional industrial segments. Customers achieved important development milestones, including those in the steel, petrochem, and LNG sectors. In fact, with Hyundai Steel's $5.8 billion planned investment in Ascension Parish, Louisiana earned Business Facilities' Platinum Deal of the Year, the first state to accomplish the feat two years in a row after the Meta AI Data Center project in 2024. We also had new data center announcements in Arkansas, Louisiana, and Mississippi, including both co-location developers and hyperscalers. Energy service area remains attractive, starting with our low electricity rates and vertical integration, business-friendly environment, welcoming communities, and proven workforce. Our geographic location provides access to diverse energy sources and robust infrastructure that are attractive to industrial customers. Our integrated stakeholder engagement is also an …
Mentions of development milestones in petrochemical and other industrial sectors may relate to classified or non-public customers, potentially including Anduril; high uncertainty, but the context of new large industrial loads fits the profile.
“Customers achieved important development milestones, including those in the steel, petrochem, and LNG sectors.”
… in the advantages of our service area. We anticipate the sales growth trend to accelerate an expected 8% compound annual growth rate through 2029, from 2025 and driven by 15% industrial growth. Last year, we signed electric service agreements totaling approximately three and a half gigawatts. There were several noteworthy customer announcements, which give us confidence in our outlooks for growth from data centers and traditional industrial segments. Customers achieved important development milestones, including those in the steel, petrochem, and LNG sectors. In fact, with Hyundai Steel's $5.8 billion planned investment in Ascension Parish, Louisiana earned Business Facilities' Platinum Deal of the Year, the first state to accomplish the feat two years in a row after the Meta AI Data Center project in 2024. We also had new data center announcements in Arkansas, Louisiana, and Mississippi, including both co-location developers and hyperscalers. Energy service area remains attractive, starting with our low electricity rates and vertical integration, business-friendly environment, welcoming communities, and proven workforce. Our geographic location provides access to diverse energy …
Entergy has secured 8 GW of gas turbine capacity for potential incremental load, and expects to deploy it despite risks due to customer reimbursement agreements. — This secures the supply chain for data center growth in the region and mitigates execution risk, but also implies a strong commitment to building that capacity.
… industrial growth. Last year, we signed electric service agreements totaling approximately three and a half gigawatts. There were several noteworthy customer announcements, which give us confidence in our outlooks for growth from data centers and traditional industrial segments. Customers achieved important development milestones, including those in the steel, petrochem, and LNG sectors. In fact, with Hyundai Steel's $5.8 billion planned investment in Ascension Parish, Louisiana earned Business Facilities' Platinum Deal of the Year, the first state to accomplish the feat two years in a row after the Meta AI Data Center project in 2024. We also had new data center announcements in Arkansas, Louisiana, and Mississippi, including both co-location developers and hyperscalers. Energy service area remains attractive, starting with our low electricity rates and vertical integration, business-friendly environment, welcoming communities, and proven workforce. Our geographic location provides access to diverse energy sources and robust infrastructure that are attractive to industrial customers. Our integrated stakeholder engagement is also an advantage, as we bring parties together to …
Entergy has secured 8 GW of gas turbine capacity for potential incremental load, and expects to deploy it despite risks due to customer reimbursement agreements. — This secures the supply chain for data center growth in the region and mitigates execution risk, but also implies a strong commitment to building that capacity.
… are attractive to industrial customers. Our integrated stakeholder engagement is also an advantage, as we bring parties together to discuss potential development solutions and a common understanding of benefits. We continue to have meaningful conversations with potential new customers to secure additional growth to benefit all of our stakeholders. Our pipeline is unchanged at 7 to 12 gigawatts for data centers and 3 to 5 gigawatts for other industries. We have clear line of sight on equipment to serve 8 gigawatts of incremental load above our current plan. We've also confirmed EPC engagement for projects in our outlooks and beyond. Entergy has distinguished itself with a long history of greater than 5% compound annual large industrial growth over the past 16 years. We know how to attract new business and serve new large load customers while delivering positive outcomes to all our stakeholders from operational execution to affordability. The economic development activity has paid off as all of our states achieved record employment milestones in 2025. From the beginning, our hyperscale electric service agreements were developed with guiding principles that account for both the new …