Entergy (ETR) Q1 FY2026 earnings: revenue $3.2 billion, up 12.0% on the year

Entergy Corp. (ETR) reported revenue of $3.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 12.0% on the same quarter a year earlier. Net income was $385 million, up 6.7% on the year, and diluted earnings per share $0.83. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.

Revenue

$3.2 billion

+12.0% on the year · +7.7% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

18.0%

24.6% a year earlier

Q2 FY2024Q1 FY2026

Net income

$385 million

+6.7% on the year · +63.3% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.83

+1.2% on the year · +62.7% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

Adjusted EPS of 86 cents: Adjusted EPS was 86 cents against 82 cents in first quarter 2025. As-reported EPS was 83 cents against 82 cents. Adjusted earnings were $399 million against $361 million.
Impairment excluded from adjusted earnings: A non-cash impairment of $(18 million) pre-tax, $(14 million) after tax, was excluded from adjusted earnings. It relates to the expected sale of a non-utility interest in the Independence power plant.
Regulatory actions drove Utility gain: The Utility increase came from the net effect of regulatory actions across the operating companies and return on CWIP for certain plant investments, partly offset by interest and depreciation.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	3,188	2,959	2,847	+7.7%	+12.0%
Operating income	572	546	700	+4.9%	-18.3%
Operating margin	18.0%	18.4%	24.6%
Interest expense	380	360	330	+5.5%	+15.1%
Pre-tax income	479	295	462	+62.4%	+3.5%
Income tax	87.8	54.2	100	+62.0%	-12.2%
Effective tax rate	18.3%	18.4%	21.6%
Net income	385	236	361	+63.3%	+6.7%
Net margin	12.1%	8.0%	12.7%
Diluted EPS	$0.83	$0.51	$0.82	+62.7%	+1.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	829	1,218	536	-31.9%	+54.6%
Capital expenditure	2,252	2,128	1,660	+5.9%	+35.7%
Free cash flow	-1,423	-910	-1,124
Free cash flow margin	-44.7%	-30.7%	-39.5%
Cash from investing	-2,422	-1,898	-1,710
Cash from financing	3,235	1,092	1,828	+196.3%	+77.0%
Depreciation and amortisation	599	575	569	+4.2%	+5.3%
Dividends paid	293	289	258	+1.2%	+13.4%
Dividend per share	$0.64	n/a	$0.60		+6.7%
Diluted shares, weighted	463m	450m	441m	+2.7%	+5.0%
Shares outstanding at period end	458m	453m	431m	+1.1%	+6.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	17,347	16,923	15,185	+2.5%	+14.2%
Non-controlling interest	91.4	91.1	97.1	+0.3%	-5.9%
Redeemable equity	219	219	219	0.0%	0.0%
Short-term borrowings	n/a	n/a	1,330
Debt	34,058	30,935	29,595	+10.1%	+15.1%
Operating lease liabilities	n/a	211	n/a
Finance lease liabilities	n/a	95.2	n/a
Other liabilities	24,088	23,416	20,194	+2.9%	+19.3%
Total liabilities and equity	75,804	71,891	66,620	+5.4%	+13.8%
Fixed assets	480	482	467	-0.4%	+2.7%
Goodwill	368	368	368	0.0%	-0.0%
Investments	7,070	7,216	6,297	-2.0%	+12.3%
Cash and equivalents	3,571	1,929	1,513	+85.1%	+136.0%
Receivables	1,432	1,470	1,339	-2.6%	+7.0%
Other assets	62,884	60,427	56,636	+4.1%	+11.0%
Total assets	75,804	71,891	66,620	+5.4%	+13.8%

Questions

What was Entergy's revenue in Q1 FY2026?

Entergy (ETR) reported revenue of $3.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 12.0% on the same quarter a year earlier.

How much did Entergy earn in Q1 FY2026?

Net income for Q1 FY2026 was $385 million, up 6.7% on the year, and diluted earnings per share $0.83.

When did Entergy report Q1 FY2026 results?

Entergy filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,722	2,878	3,395	4,219	3,273	2,981	2,846	3,596	2,725	2,795	2,954	3,389	2,742	2,847	3,329	3,812	2,959	3,188	3,524	4,365
Operating income	342	566	81.1	955	449	462	756	1,143	257	238	618	1,126	670	700	837	1,119	546	572	850	1,481
Operating margin	13%	20%	2%	23%	14%	16%	27%	32%	9%	9%	21%	33%	24%	25%	25%	29%	18%	18%	24%	34%
Interest expense	212	222	227	227	236	246	251	255	254	267	290	295	299	330	322	325	360	380	410	436
Pre-tax income	231	346	-196	740	168	233	527	897	14.9	97.5	85.4	861	398	462	610	904	295	479	619	1,224
Tax rate	-6%	19%	n/a	25%	42%	-34%	26%	25%	-6519%	22%	39%	25%	28%	22%	23%	23%	18%	18%	21%	23%
Net income	259	276	160	561	106	311	391	667	988	75.3	48.9	645	286	361	468	694	236	385	483	940
Net margin	10%	10%	5%	13%	3%	10%	14%	19%	36%	3%	2%	19%	10%	13%	14%	18%	8%	12%	14%	22%
Diluted EPS	$0.64	$0.68	$0.39	$1.37	n/a	$0.73	$0.92	$1.57	$4.65	$0.17	$0.12	$1.50	n/a	$0.82	$1.05	$1.53	$0.51	$0.83	$1.03	$1.98
Operating cash flow	290	538	278	993	776	960	866	1,405	1,063	521	1,025	1,562	1,380	536	1,262	2,135	1,218	829	1,893	2,235
Capital expenditure	132	1,502	1,219	1.0	n/a	0.0	30.4	0.0	1,067	961	1,163	1,141	1,573	1,660	2,008	1,889	2,128	2,252	2,779	2,713
Free cash flow	158	-964	-941	992	n/a	960	836	1,405	-3.7	-440	-138	422	-194	-1,124	-747	246	-910	-1,423	-886	-478
Dividends paid	203	205	205	205	226	226	226	226	239	241	241	242	258	258	258	268	289	293	293	299
Shares outstanding	406m	407m	407m	407m	430m	423m	423m	429m	430m	862m	893m	429m	430m	431m	446m	447m	453m	458m	467m	478m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.