ENTERGY CORP /DE/ (ETR)

Entergy Corporation is an integrated energy holding company engaged primarily in electric power production and retail distribution, owning and operating power plants with approximately 24,000 MW of electric generating capacity, including about 5,000 MW of nuclear power, and delivering electricity to roughly 3 million utility customers across Arkansas, Louisiana, Mississippi, and Texas. The company reported annual revenues of $13.8 billion in 2022 and employed approximately 12,000 people as of December 31, 2022. Historically operating through two segments, Utility and Entergy Wholesale Commodities, Entergy completed its multi-year exit from the merchant nuclear power business with the sale of the Palisades plant in June 2022, and effective January 1, 2023, Entergy Wholesale Commodities ceased to be a reportable segment.

The Utility segment comprises five retail electric subsidiaries—Entergy Arkansas, Entergy Louisiana, Entergy Mississippi, Entergy New Orleans, and Entergy Texas—which generate, transmit, distribute, and sell electric power to retail and wholesale customers, along with a small natural gas distribution business operated by Entergy Louisiana (around Baton Rouge) and Entergy New Orleans. Also part of the Utility is System Energy, a wholly-owned subsidiary that owns or leases 90% of the Grand Gulf nuclear facility and sells its output at wholesale to four of the affiliated retail utilities. Each utility subsidiary is regulated by the Federal Energy Regulatory Commission (FERC) and applicable state commissions or, for Entergy New Orleans, the City Council, with rates set through various mechanisms including formula rate plans, riders for fuel and purchased power, MISO-related costs, and other cost-recovery riders.

In 2022, total electric energy sales across the utility operating companies reached approximately 136,097 GWh, with industrial customers representing the largest sales volume share (38.6%) though a smaller revenue share (28.2%) compared to residential customers (27.3% of volume, 35.2% of revenue). Entergy Louisiana and Entergy New Orleans also provide natural gas service, with gas representing a minor portion of overall revenue (1% for Entergy Louisiana, 14% for Entergy New Orleans). The company's strategic focus is on growing and investing in its regulated Utility business to deliver steady, predictable earnings and dividend growth, supported by customer-centric investments, disciplined project execution, progressive regulatory frameworks, and a commitment to environmental, social, and governance (ESG) priorities such as reducing carbon emissions and improving grid resilience.