# Entergy Corporation (ETR) - Recent Events

## Filings that contain financial statements

Entergy's earnings releases, furnished as Exhibit 99.1 to Form 8-K, carry consolidating balance sheets, consolidating income statements and consolidated cash flow statements, plus non-GAAP reconciliations:

- Form 8-K filed November 2, 2026, accession 0000065984-26-000322: third quarter 2026 (quarter ended September 30, 2026, with year-to-date figures).
- Form 8-K filed July 29, 2026, accession 0000065984-26-000279: second quarter 2026 (quarter and six months ended June 30, 2026).
- Form 8-K filed April 29, 2026, accession 0000065984-26-000217: first quarter 2026 (quarter ended March 31, 2026).
- Form 8-K filed February 12, 2026, accession 0000065984-26-000164: fourth quarter and full year 2025.

## Earnings and guidance

- **November 2, 2026 (third quarter 2026; 0000065984-26-000322).** Earnings were $940 million, or $1.98 per share, on both an as-reported and an adjusted basis, against $694 million, or $1.53 per share, a year earlier. Year-to-date as-reported earnings were $1,808 million ($3.86 per share) and adjusted earnings were $1,821 million ($3.89 per share). The Utility business earned $1,079 million ($2.28 per share) and Parent & Other lost $139 million (29 cents per share). The release cites higher retail sales volume including weather, regulatory actions, return on construction work in progress and higher other income, partly offset by higher interest expense, other O&M and depreciation. Estimated weather impact was $116 million after tax, against $28 million a year earlier. Entergy **narrowed** its 2026 adjusted EPS guidance to $4.35 to $4.45 (previously $4.25 to $4.45) and affirmed its other financial outlooks. The Board declared a quarterly dividend of 68 cents per share, described as a six percent increase.
- **July 29, 2026 (second quarter 2026; 0000065984-26-000279).** Second quarter EPS was $1.03, as reported and adjusted. Entergy affirmed 2026 adjusted EPS guidance of $4.25 to $4.45.
- **April 29, 2026 (first quarter 2026; 0000065984-26-000217).** EPS was 83 cents as reported and 86 cents adjusted. The adjustment was a $14 million after-tax non-cash impairment tied to the expected sale of a non-utility business interest in the Independence power plant. Entergy affirmed 2026 guidance of $4.25 to $4.45 and raised longer-term outlooks, with an updated four-year capital plan.
- **February 12, 2026 (fourth quarter and full year 2025; 0000065984-26-000164).** Fourth quarter EPS was 51 cents and full-year 2025 EPS was $3.91, as reported and adjusted, in the top half of the guidance range. Entergy initiated 2026 adjusted EPS guidance of $4.25 to $4.45.

## Capital and financing

- **Equity forward sale (May 5-7, 2026; 0001193125-26-211827).** Entergy entered into forward sale agreements covering 19,247,788 shares of common stock, sold in a $2.175 billion registered offering at a public offering price of $113.00 per share. The initial forward sale price is $110.74 per share (about $2.13 billion if fully physically settled at that price), and settlement is at Entergy's election on or before April 30, 2028. The underwriters also held an option on 2,887,168 additional shares. The filing describes shares sold by forward sellers who borrowed them; Entergy receives cash only on settlement.
- **Forward settlements, June 22, 2026 (0000065984-26-000265).** Entergy physically settled its at-the-market forward agreements by delivering 2,057,826 shares for about $126 million, leaving none outstanding under that program. It also settled part of its March 2025 underwritten forwards, delivering 6,650,417 shares for about $546 million and leaving 11,145,984 shares outstanding under them.
- **Forward settlement, September 2, 2026 (0000065984-26-000312).** Entergy physically settled the remaining March 2025 underwritten forwards, delivering 11,145,984 shares for about $913 million. The May 2026 forwards (19,247,788 shares) remain outstanding.
- **At-the-market program joinder (February 20, 2026; 0001193125-26-061358).** Entergy added Barclays as agent, forward seller and forward purchaser to its at-the-market equity program, with $1,657,982,431 of capacity remaining. The filing restates the company's expectation of about $4.4 billion of equity issuance through 2029, with about $1.9 billion already contracted under forward sale agreements.
- **Junior subordinated debentures, August 2026 (0001193125-26-339472).** The sale of $750 million of Series 2026A debentures due December 15, 2056 and $750 million of Series 2026B debentures due December 15, 2058 (agreement dated August 4) closed on August 7, 2026.
- **Junior subordinated debentures, November 2025 (0001193125-25-271448).** The sale of $600 million of Series 2025A and $700 million of Series 2025B debentures, both due June 15, 2056 (agreement dated November 4), closed on November 7, 2025.
- **Texas generation lease financing (December 9, 2025, filed December 11; 0000065984-25-000189).** Entergy Texas entered into construction and lease agreements with a Bank of America leasing entity for the planned 754-megawatt Legend Power Station combined cycle plant in Jefferson County, Texas. Funded construction costs are expected not to exceed $1.450 billion. The lease is expected to start about 26 months out, with a term of up to about 58 months and a purchase option. The agreement requires Entergy Texas to keep consolidated debt at 65% or less of total capitalization.

## Management and governance

- **November 6, 2025 (0000065984-25-000152).** General Counsel Marcus V. Brown said he will retire in spring 2026. He moved to Executive Legal Advisor to the CEO effective December 1, 2025.
- **March 25, 2026, filed March 30 (0000065984-26-000214).** Chief Accounting Officer Reginald T. Jackson will retire May 31, 2026. Patrick J. Stack, Corporate Controller of Entergy Services, LLC, was named successor effective June 1, 2026.
- **May 7, 2026, filed May 12 (0000065984-26-000231).** The Talent & Compensation Committee approved amendments to freeze benefits under the System Executive Retirement Plan for participants including CEO Andrew Marsh, and to allow Mr. Marsh to retire with an early retirement benefit without employer consent from age 60 instead of 65. It also approved freezing his benefit under the Pension Equalization Plan.
- **May 8, 2026 annual meeting (0000065984-26-000232).** Shareholders elected all 12 nominated directors, ratified Deloitte & Touche LLP as auditor for 2026 and approved executive compensation in an advisory vote.

## Not reflected in these filings

No going-concern matter or covenant default appears in the 8-Ks reviewed. Two transactions appear in other filings.

- **Cottonwood acquisition (signed, not closed).** Entergy Louisiana has applied to acquire the 1,263 MW Cottonwood combined-cycle plant in Deweyville, Texas for about $1.5 billion plus $309.3 million of upgrades, as cited in the February 12, 2026 release (0000065984-26-000164). Per the third quarter 10-Q (0000065984-26-000325), the LPSC hearing is set for February 2027 and closing is targeted for the first or second quarter of 2027.
- **Independence interest sale (closed April 2026).** The first quarter release (0000065984-26-000217) called the sale of the non-utility business's interest in the Independence power plant "expected." The third quarter 10-Q (0000065984-26-000325) records it as completed in April 2026, in the note explaining the $18 million ($14 million after tax) first quarter impairment. No 8-K announced the closing, and the buyer and price are not disclosed.