Entergy Corporation · NYSE:ETR
Entergy — Q2 2025 Earnings Presentation
33 slides from Entergy's earnings presentation, May 22, 2025
Slide 1: 2Q25 business update
2Q25 business update 0 May 22, 2025
Slide 2: Caution regarding forward-looking statements
Caution regarding forward-looking statements In this presentation, and from time to time, Entergy Corporation makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, statements
Slide 3: Delivering customer-centric results
Delivering customer-centric results Investing for significant new growth that benefits stakeholders Starting with Plan to deliver Stakeholder Financial the customer value engagement strength 2
Slide 4: Entergy at intersection of major macro trends
Entergy at intersection of major macro trends Onshoring Clean energy Electrification Technology 3
Slide 5: Delivering what customers want
Delivering what customers want Building off unique advantages in our region Natural advantages What Entergy brings to the table Infrastructure, Business Timely new Clean access to ports friendly service energy Available Proven Value and Customer sites workforce affordability partnership Ability to b
Slide 6: Strong customer growth
Strong customer growth Cumulative weather-adjusted retail sales growth vs 2024; TWh 37 ~12% – 13% 22 Industrial CAGR 28E vs 24 13 7 25E 26E 27E 28E Residential Commercial Industrial 5 As of February 2025
Slide 7: Large industrials driving growth
Large industrials driving growth History of strong growth over many years ETR large industrial ~5% sales vs. IPI1 Industrial sales; TWh CAGR 40 ETR large industrial sales (12-month moving average) 30 Large 20 ~1% IPI CAGR Small 10 Cogen 0 09 12 15 18 21 24 09 12 15 18 21 24 6 1. Industrial Productio
Slide 8: Diversified large industrials
Diversified large industrials Industry and geographic diversity Large industrials Large industrials Sales growth 28E vs 24; TWh Sales volume by year; TWh ~72 ~35 ~35 E-TX E-MS E-LA E-AR By OpCo By industry 25E 26E 27E 28E All other Other chemicals Agricultural chemicals Transportation Primary metals
Slide 9: Supportive macro factors in Gulf region
Supportive macro factors in Gulf region NBP to Henry Hub spread; $/MMBtu Brent-to-Henry Hub ratio U.S. competitive advantage 12 0 16 18 20 22 24 26 28 16 18 20 22 24 26 28 NGL-to-Brent ratio WTI-to-Brent spread; $/bbl 0.6 0 16 18 20 22 24 26 16 18 20 22 24 26 28 8 Sources: Bloomberg and internal ana
Slide 10: Entergy is attracting new customers
Entergy is attracting new customers Pipeline shows robust growth in all stages Illustrative Customer pipeline development Growing backlog of ESAs1; MW Project study FID Potential ESA Customer customer Reimbursement agreement Increasing probability in forecast 20 21 22 23 24 YTD 25 9 1. Electric serv
Slide 11: Capturing new large customers
Capturing new large customers Starts with stakeholder engagement Guiding principles Customers Deliver benefits for all key stakeholders Responsive to customer timeline without Elected Regulators compromising regulatory oversight officials Include customer protections Owners Vendors • Minimum b
Slide 12: A clean portfolio and getting cleaner
A clean portfolio and getting cleaner Expanding renewables, planning for optionality with H2, CCS Planned resource capacity; GW ~44 ~36 ~27 24 28E 1 33E1 Nuclear Renewables H2 and CCS capable 2 Modern gas Legacy gas Coal Non-generating resources 3 As of February 2025 Includes owned resources and pur
Slide 13: New generation to meet growing demand
New generation to meet growing demand Announced projects Approved / in progress Regulatory reviews pending Owned / Est. in Owned / Est. in Project MW PPA service1 Project MW PPA service1 Flat Fork Solar (E-AR) 200 PPA 2025 ETR OpCo filings Forgeview Solar (E-AR) 200 PPA 2025 Segno Solar (E-TX) 170 O
Slide 14: Developing CCS with plan to deploy at LCPS
Developing CCS with plan to deploy at LCPS When operationally and financially feasible; not yet included in capital plan DOE-funded FEED study CCS service feasibility study CCS funding options • $18M project • Crescent Midstream developing • Subscription-based customer ($9M funded from DOE award) co
Slide 15: Pursuing nuclear growth
Pursuing nuclear growth Supports ongoing conversations with interested customers Entergy is well positioned Supporting industry and state-level efforts to evaluate new nuclear Partnering with industry and state working groups Exploring potential uprates MS Senate Energy Early site permit for a
Slide 16: Improving resilience through multiple channels
Improving resilience through multiple channels Strong growth reducing relative risk Accelerated resilience programs Relative storm risk declining • Program designed to upgrade assets that are not up to latest standards Illustrative • Prioritizes projects with highest benefit/cost ratio $1B as a % of
Slide 17: Customers value low rates
Customers value low rates Spending discipline contributes to advantage Scale advantage Creating incremental value Average industrial rates1 National average Continuous ✓ AI Entergy Utilities improvement ✓ Process automation ✓ Workforce training Capital ✓ Cross functional capital efficiency project r
Slide 18: Investing for customer benefits
Investing for customer benefits Four-year capital plan 25E–28E capital plan by function1 Other Generation 2 Distribution baseline 4 8 $37B Other new 10 generation 8 Transmission 5 Renewables As of February 2025 Calculations may differ due to rounding 17 1. Excludes capital funded with contribution i
Slide 19: Investment for customers supports growth
Investment for customers supports growth Capital investment and depreciation expense; Projected rate base1,2; $B cumulative1; $B 37 27 66 59 52 18 45 40 8 25E 26E 27E 28E 24E 25E 26E 27E 28E Capital investment Depreciation expense As of February 2025 1. Excludes capital funded with contribution in a
Slide 20: Delivering customer-centric results
Delivering customer-centric results Investing for significant new growth that benefits stakeholders Starting with Plan to deliver Stakeholder Financial the customer value engagement strength 19
Slide 21: Appendix
20 Appendix ES) entergy
Slide 22: About Entergy
About Entergy Vertically integrated utility with five operating companies in four states – AR, LA, MS, and TX 3 million retail customers 24,479 MW owned and leased generating assets 16,100 circuit miles of interconnected high-voltage transmission lines 106,900 circuit miles of distribution lines 202
Slide 23: A focus on sustainability leadership
A focus on sustainability leadership Environmental Social Robust stewardship responsibility governance For a cleaner world Promoting safety, opportunity, Managing risks and and communities opportunities • Among the cleanest large-scale • Live safe all day, every day • Leaders with an effective mix o
Slide 24: Among the cleanest large-scale fleets in the U.S.
Among the cleanest large-scale fleets in the U.S. CO2 emission rates of top 20 privately-owned / investor-owned power producers; lbs per MWh Entergy Based on Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States, published Nov. 2024 (2022 data) 23
Slide 25: Planned exit from coal
Planned exit from coal Intend to cease coal combustion by the end of 2030 Coal generation of top 20 privately-owned / investor-owned power producers; TWh • ~3% of 2024 revenue from coal assets • ~1% of 2024 rate base comprised of coal assets Entergy Based on Benchmarking Air Emissions of the 100 Lar
Slide 26: Current plan supports interim emission rate goal
Current plan supports interim emission rate goal Stronger than planned growth could challenge timing of meeting interim goal1 Entergy Utility CO2 emission rates; lbs per MWh U.S. power sector avg. Current Committed 1,130 supply plan2 852 793 to achieving 565 net-zero emissions by 2050 3 2000 2010 20
Slide 27: Clean energy transition technologies
Clean energy transition technologies Illustrative 2030 2040 Currently unknown Advanced gen, zero carbon resources Expected to be viable Long duration storage H2 power generation Small modular reactors (nuclear) CCS Known and proven Wind Gas with H2 capability Battery energy storage system Solar Exis
Slide 28: Board of Directors
Board of Directors Effective mix of skills, experiences, backgrounds, and perspectives Board skills Board demographics Number of Board members with specified skill Age (years) Tenure (years) Risk management 10 20% 20% 20% 40% Technology / transformation 10 51 to 60 0 to 5 61 to 69 Executive leadersh
Slide 29: Extensive and transparent sustainability reporting
Extensive and transparent sustainability reporting Visit entergy.com/sustainability Select disclosures Sustainability performance data table 2024 greenhouse gas emissions inventory CDP Corporate Questionnaire 2024 Wildfire risk management Corporate governance guidelines Select disclosures Code of En
Slide 30: ETR Industrials
Helping customers achieve clean energy goals Industrial scope 1 emissions by state; 2023 annual short tons of CO2 (millions) ~128 (estimated) WI PA AL WY KS KY AK WA SC VA AR WV AZ SD VT OH OK TN FL GA OR TX UT NJ CT HI RI IN CA IL IA MI ND CO NY NE NM NC DE ID NV NH DC ETR Industrials LA MN MO MS M
Slide 31: Strong long-term retail sales growth
Strong long-term retail sales growth Driven by diverse industrial growth; residential and commercial essentially flat Four-year retail sales outlook; MWh Total retail (~6% – 7% CAGR) Industrial (~12% – 13% CAGR) Governmental (flat) Commercial (<1% CAGR) Residential (<1% CAGR) 24 25E 26E 27E 28E 30 A
Slide 32: Acronyms and abbreviations
Acronyms and abbreviations AI Artificial intelligence IPI Industrial Production Index bbl Barrel IRA Inflation reduction act CAGR Compound annual growth rate lbs Pounds CCCT Combined cycle combustion turbine LCPS Lake Charles Power Station (CCCT) CCS Carbon capture and sequestration MISO Midcontinen
Slide 33: ETR
5) entergy