Abstract

Entergy is slated to report second-quarter 2026 results on July 29, 2026 Pre-MKt; this preview summarizes consensus forecasts, last quarter’s performance, the current quarter outlook, and the prevailing analyst view based on data through July 22, 2026.

Market Forecast

For the current quarter, consensus modeled within the company’s latest outlook points to revenue of 3.60 billion US dollars, an EBIT forecast of 0.99 billion US dollars, and EPS of 1.09, implying year-over-year changes of 18.42% for revenue, 1.64% for EBIT, and 18.90% for EPS. The framework implies steady margin support, with top-line expansion expected to be led by regulated utility operations; where provided, the year-over-year changes are expressed to reflect decimal growth inputs. The main business is expected to remain driven by regulated utility operations across service territories, and wholesale and other lines are modeled as immaterial to the group’s consolidated outlook. The largest growth potential continues to come from regulated utility operations, with revenue modeled at 3.60 billion US dollars this quarter, up 18.42% year over year on our forecast base.

Last Quarter Review

Last quarter, Entergy delivered revenue of 3.19 billion US dollars, a gross profit margin of 47.53%, GAAP net profit attributable to the parent of 0.39 billion US dollars with a net profit margin of 12.08%, and adjusted EPS of 0.86, with year-over-year growth of 11.97% for revenue and 4.88% for EPS. Net profit rose quarter on quarter by 63.25%, reflecting stronger contribution from the core utility franchise and operating cost control. The main business mix remained concentrated in regulated utility operations at 3.17 billion US dollars of revenue, while wholesale goods and other items were negligible in comparison.

Current Quarter Outlook

Main business: Regulated utility operations

Entergy’s performance this quarter will be anchored by its regulated utility operations, which accounted for nearly all consolidated revenue last quarter. Forecast revenue of 3.60 billion US dollars indicates an 18.42% year-over-year increase, implying constructive rate recovery, more normalized weather versus last year’s baseline, and incremental load from industrial customers. Margin dynamics should hinge on fuel and purchased power pass-throughs versus base rates; with a prior-quarter gross margin of 47.53%, investors will watch the mix of base revenues and riders to gauge sustainability. Cost discipline and O&M efficiency will be relevant for translating top-line gains into EPS, particularly as interest and depreciation trajectories reflect ongoing capital investment.

Most promising area: Regulated growth from customer and rate base expansion

The segment with the clearest growth path is the core utility franchise, where revenue is forecast at 3.60 billion US dollars, up 18.42% year over year. The growth thesis is supported by expanding rate base from grid investments and generation projects, complemented by rider mechanisms that help align recovery with spend. Execution on capex timetables, regulatory settlements, and prudent fuel cost management will be critical to preserve the projected earnings leverage implied by the 18.90% EPS growth outlook.

Key stock drivers this quarter

Investors will focus on three items: the relationship between revenue expansion and margin delivery, regulatory cadence, and load trends. With EBIT forecast to increase to 0.99 billion US dollars, the conversion of revenue to operating income will be parsed for evidence of O&M containment and storm-cost normalization. Regulatory milestones tied to rate cases and formula-rate plans across jurisdictions can set expectations for allowed returns and cost recovery timetables. Finally, weather-normalized demand from commercial and industrial customers, including large projects in service territories, could influence both revenue and forward commentary.

Analyst Opinions

The majority of recent institutional commentary skews bullish, citing improving earnings quality and visibility from a growing regulated rate base. Several well-followed research desks emphasize that year-over-year EPS growth near 18.90% alongside double-digit revenue expansion supports a constructive stance into the print. The favorable view also highlights that last quarter’s results outperformed internal revenue expectations and that quarter-on-quarter net profit acceleration of 63.25% suggests momentum carrying into July 29, 2026.