Entergy Corp

Company facts

Industry

Electric Services

Headquarters

New Orleans, Louisiana

Most recent report

10-Q, filed Nov 2, 2026

Incorporated

Delaware

Filings on record

1,004+ filings

On EDGAR

CIK 65984

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 6 of 17 sections worth reading, with 1 positive, 25 notable, and 6 negative flags.

• For the quarterly period ended September 30, 2026

  Winter Storm Fern caused $450M in costs and $483M in gas purchases, with recovery mechanisms detailed.
  Notable

  • Each utility has fuel recovery mechanisms in place to recover natural gas costs from the storm.
  Negative

  • Natural gas purchases in January 2026 were $483M, more than double the $207M in January 2025, due to severe cold.

• Results of Operations

  Dense with data-center demand, massive capex plan, equity forward sales, and regulatory disputes.
  Notable

  • Entergy expects to issue ~$5.2B in equity from 2027-2030; $2.2B already contracted under forward sales as of Sept 30, 2026.
  • Entergy Mississippi filed to securitize ~$237.8M in Winter Storm Fern costs; MPSC expected to rule in Dec 2026.
  • Entergy Louisiana entered a build-to-suit lease for Waterford 6 Power Station; investors will spend up to $1.875B to construct it.
  • Entergy Arkansas filed for approval of a 250 MW battery and 440 MW solar PPA to support Google's data-center expansion in West Memphis.
  • Entergy Arkansas's Jefferson Power Station approved with a cost benchmark $90M below estimate; APSC denied rehearing but costs over benchmark not disallowed.
  • Entergy Louisiana filed for 5,278 MW of new gas-fired generation at ~$12.9B to serve a Meta data center; LPSC decision expected Dec 2026.
  • Operating cash flow rose $1.0B to $5.0B YTD 2026, boosted by $1.2B in customer advance payments.
  • Entergy issued $1.93B in net equity proceeds YTD 2026 via forward sales and ATM, up from $805M in 2025.
  Negative

  • LPSC staff opposes Entergy Louisiana's $1.5B Cottonwood Power Station acquisition, saying costs should fall on data-center customers, not all ratepayers.

• NOTES TO FINANCIAL STATEMENTS

  Dense with regulatory proceedings, debt issuances, and a major FERC dispute with uncertain surcharge exposure.
  Notable

  • Entergy Arkansas filed for a $28.9M base rate increase in Oct 2026, but a settlement proposes zero revenue change with a 9.7% ROE.
  • Entergy sold $2.8B of stock under its ATM program as of Sept 30, 2026, and settled forward sales for $1.46B in cash during the nine months.
  • Entergy issued $1.5B in junior subordinated debentures (6.5% rate) in August 2026, used to repay commercial paper and maturing notes.
  • Entergy Arkansas, Louisiana, and System Energy transferred 2025 nuclear PTCs for $223.8M cash in Sept 2026; customers bear IRS disallowance risk.
  Negative

  • FERC ruling (Opinion No. 595) on NOLC ADIT tariff dispute could result in material refunds or surcharges; amounts not estimable as of Sept 30, 2026.
  • LPSC filed a FERC complaint alleging Entergy Texas owes $100M in surcharges to Entergy Louisiana for River Bend 70 depreciation rates.

• Part I

  Contains detailed financial results, regulatory updates, and major capital projects for each subsidiary.
  Positive

  • Entergy Louisiana net income up $94.1M to $437M in Q3 2026, driven by higher retail electric price and volume/weather.
  Notable

  • Entergy Arkansas's net income rose $71.4M in Q3 2026 to $263.1M, driven by higher retail electric price and volume/weather.
  • Entergy Arkansas's debt-to-capital ratio fell to 52.4% at Sep 2026 from 53.7% at Dec 2025, helped by a $200M capital contribution from parent.
  • Entergy Louisiana's debt-to-capital ratio rose to 49.4% at Sep 2026 from 46.6% at Dec 2025 due to net debt issuance.
  • Entergy Mississippi's net income up $26.6M in Q3 2026 to $148.6M; industrial sales surged 56% driven by data center customers.
  • Entergy New Orleans's net income rose $18.7M in Q3 2026 to $39.3M, helped by a $12.8M write-off in Q3 2025 that did not recur.
  • Entergy Texas net income up $46.8M in Q3 2026 to $176.8M; industrial sales rose 18% driven by chemical and petrochemical customers.
  • Entergy Texas entered a 14-year PPA for 300 MW from Tenaska Frontier Generating Station, total estimated cost $883M.
  • System Energy's net income rose $1.7M in Q3 2026 to $23M, driven by higher operating revenues from changes in rate base.

• Legal Proceedings (Item 1)

  New antitrust class action filed July 2025, dismissed without prejudice, plaintiffs amending, material litigation risk.
  Notable

  • Court granted dismissal without prejudice in August 2026; plaintiffs filed second amended complaint in September 2026 adding a new defendant.
  Negative

  • New antitrust class action filed July 2025, dismissed without prejudice, plaintiffs amending, potential large damages if revived.

• Other Information (Item 5)

  Two nuclear plants in Column 2 (regulatory scrutiny) and a new EPA rule repeal affecting emissions standards.
  Notable

  • Entergy Louisiana's permanent gas hedging program approved by LPSC in June 2026, with a rider mechanism for customer rates.
  • EPA repealed most May 2024 greenhouse gas rules for existing coal and gas units in September 2026, effective November 16, 2026.
  • EPA extended CCR rule deadlines by one year to February 2027 and February 2028, and proposed rescinding CCRMU requirements.
  Negative

  • Grand Gulf and River Bend nuclear plants are in NRC Column 2, meaning increased regulatory inspection and costs, as of Q3 2026.

What changed: Sep 2026 vs. Jun 2026

About 14% of ETR's Sep 2026 10-Q is new information. 237 paragraphs were added, 511 changed, and 117 removed. Below are the most important lines SECSift identified.

• Part I 353
• NOTES TO FINANCIAL STATEMENTS 175
• Results of Operations 122
• Item 5 10
• Item 6 5
• For the quarterly period ended September 30, 2026 5
• Item 1 3