NEW ORLEANS, May 2, 2025 /PRNewswire/ -- Entergy experienced a transformational year in 2024 and there's additional growth potential for our company and region in the year ahead, Chair and Chief Executive Officer Drew Marsh told shareholders during Entergy's 76th annual meeting today.
Entergy logo (PRNewsfoto/Entergy Corporation)
"Fundamentally, we believe all our stakeholders have a bright future ahead, and Entergy is championing a better future through fostering growth within our service area and investment in cleaner, more reliable and more resilient energy," said Marsh.
Entergy is focused on initiatives to improve outcomes and deliver value for all our stakeholders, including capturing customer growth, resolving key regulatory priorities, creating opportunities for employees, making the energy grid more resilient, continuing to enhance our restoration response for our communities, furthering progress on renewable energy, and building generation resources to meet customer-driven needs.
Marsh highlighted several business achievements in 2024:
"We continued to see strong industrial customer growth, fueled by the competitive advantages of our region. Last year, both Entergy Mississippi and Entergy Louisiana signed electric service agreements with hyperscale data center customers. These new customers bring significant value to our stakeholders, including good jobs, infrastructure improvements and tax revenues for our communities."
"Driven by customer interest, we continued to make progress in advancing renewable energy and other clean technology solutions. We brought more than 700 megawatts of solar resources online last year."
"Our commitment to corporate social responsibility had a positive impact in 2024, resulting in an economic impact of over $153 million for our customers and communities. Our dedicated employees played a pivotal role in our economic impact, contributing more than 122,000 hours of volunteer service valued at more than $4 million across our service area."
Serving as a founding partner of the New Orleans Super Bowl LIX Host Committee, Entergy strengthened our stakeholder engagements leading up to the big game. "In partnership with the Host Committee, the New Orleans Saints, the NFL Foundation and other philanthropic organizations, we created the charitable legacy program, Impact 59 Powered by Entergy. Through Impact 59, we awarded more than $3.5 million in impactful grants to local nonprofit organizations. This program is making a positive impact in the Greater New Orleans community and has left a legacy of philanthropy that will endure long after the Super Bowl ends."
"Finally, we effectuated a 2-for-1 stock split and again delivered strong adjusted earnings per share growth last year, in the top half of our guidance range. We also grew our quarterly dividend per share by approximately 6% and, importantly, we continued to make positive progress on our credit metrics in 2024, which provides financial flexibility as well as long-term customer benefits through lower cost of capital."
Explore Entergy's 2024 Performance Report to learn about our latest progress and the growth opportunities ahead.
Other business
Additional business conducted during today's meeting:
Entergy shareholders elected all 10 director nominees to the company's board of directors.
Two management proposals related to the appointment of the company's independent public accountants and executive compensation were voted on and approved by shareholders.
Marsh responded to several shareholder questions on a range of topics, including the growth potential for data centers and new industrial customers for the Entergy region, our progress on hardening the energy grid for severe weather events, potential tariff impacts on our operations, and how the company is integrating artificial intelligence into its operations.
A replay of Entergy's annual shareholders meeting and responses to questions asked during the meeting will be published on our Investor Relations website next week.
About Entergy
Entergy (NYSE: ETR) produces, transmits and distributes electricity to power life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We're investing for growth and improved reliability and resilience of our energy system while working to keep energy rates affordable for our customers. We're also investing in cleaner energy generation like modern natural gas, nuclear and renewable energy. A nationally recognized leader in sustainability and corporate citizenship, we deliver more than $100 million in economic benefits each year to the communities we serve through philanthropy, volunteerism and advocacy. Entergy was a founding partner of the Host Committee for Super Bowl LIX played in New Orleans, Louisiana, the home of Entergy's corporate headquarters. A Fortune 500 company, Entergy has approximately 12,000 employees. Learn more at entergy.com and connect with @Entergy on social media.
In this news release, 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 regarding Entergy's 2025 earnings guidance; financial and operational outlooks; industrial load growth outlooks; statements regarding its climate transition and resilience plans, goals, beliefs, or expectations; and other statements of Entergy's plans, beliefs, or expectations included in this news release. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy's most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q, and Entergy's other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent or on the timeline anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with (1) realizing the benefits of its resilience plan, including impacts of the frequency and intensity of future storms and storm paths, as well as the pace of project completion and (2) efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust values or earnings or in the timing or cost of decommissioning Entergy's nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including (1) strategic transactions that Entergy or its subsidiaries may undertake and the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized, and (2) Entergy's ability to meet the rapidly growing demand for electricity, including from hyperscale data centers and other large customers, and to manage the impacts of such growth on customers and Entergy's business, or the risk that contracted or expected load growth does not materialize or is not sustained; (h) direct and indirect impacts to Entergy or its customers from pandemics, terrorist attacks, geopolitical conflicts, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy's business or operations, and/or other catastrophic events; and (i) effects on Entergy or its customers of (1) changes in federal, state, or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental, international trade, or energy policies; (2) changes in commodity markets, capital markets, or economic conditions; and (3) technological change, including the costs, pace of development, and commercialization of new and emerging technologies.
