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Entergy (ETR) earnings and revenue breakdown

Latest: Q1 2026 · 10-Q filed May 1, 2026 · Entergy (ETR) Q1 2026 earnings results →

Q1 2026 Revenue up 12% year over year to $3.2B · 12¢ of every $1 of revenue kept as net profit · operating margin 18.0%

Entergy made $3.2B in Q1 2026 (+12% Y/Y): Electricity, US Regulated $3.2B, Product and Service, Other $17.4M. Operating margin 18.0%, net earnings $385M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed May 1, 2026.

Revenue$3.2B
Year over year+12%
Operating margin18.0%
Net earnings$385M
Operating cash flow$829M

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Entergy Q1 2026 revenue breakdown: Sankey diagram of revenue (Electricity, US Regulated, Product and Service, Other), costs, profit and cash flow
Entergy Q1 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.2B in Q1 2026, up 12% year over year and up 8% from the previous quarter. Electricity, US Regulated was the largest line at 99% of revenue. Electricity, US Regulated added $0.41B year over year (up 15%), 121% of the total change.

Operating profit was $0.57B, a 18.0% margin (down 6.6 points year over year). Operating profit fell $0.13B even though revenue rose $0.34B versus Q1 2025, so costs grew faster than sales. Total costs grew 22% against revenue growth of 12%. Net earnings were $0.38B, up 7% year over year. The effective tax rate was 18.3%.

Operating cash flow was $0.83B (up 55% year over year), 212% of net earnings. Non-cash charges added back $0.60B of depreciation and amortization. Working capital and other items used $0.16B. Capital expenditures of $2.3B exceeded it, leaving free cash flow of −$1.4B.

Quarterly history

Entergy revenue by quarterEntergy revenue by quarter$2.7BQ4 2024$2.8BQ1 2025$3.3BQ2 2025$3.8BQ3 2025$3.0BQ4 2025$3.2BQ1 2026
Entergy net earnings by quarterEntergy net earnings by quarter$287MQ4 2024$362MQ1 2025$468MQ2 2025$694MQ3 2025$236MQ4 2025$385MQ1 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 202610-QMay 1, 2026$3.2B+12%18.0%$385M$829M
Q4 202510-KFeb 19, 2026$3.0B+8%18.4%$236M$1.2B
Q3 202510-QOct 31, 2025$3.8B+12%29.4%$694M$2.1B
Q2 202510-QAug 1, 2025$3.3B+13%25.2%$468M$1.3B
Q1 202510-QMay 1, 2025$2.8B+2%24.6%$362M$536M
Q4 202410-KFeb 18, 2025$2.7B+0.6%24.4%$287M$1.4B

Charts

Entergy: revenue growth, year over year and quarter over quarterEntergy: revenue growth, year over year and quarter over quarterY/YQ/Q+1%Q4 2024+2%+4%Q1 2025+13%+17%Q2 2025+12%+15%Q3 2025+8%-22%Q4 2025+12%+8%Q1 2026
Latest (Q1 2026): Y/Y +12%, Q/Q +8%.
Entergy: where the cash came from (+) and went (−), TTM to Q1 2026Entergy: where the cash came from (+) and went (−), TTM to Q1 2026Capital spending−$8.3BOperating cash flow$5.4BNet borrowing (+) / repaid (−)$3.1BCash drawn (+) / kept (−)−$2.1BShares issued$1.5BDividends−$1.1BOther financing$945MOther investing$456M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Entergy: profit against cash, quarter by quarterEntergy: profit against cash, quarter by quarterNet incomeOperating cash flow$51.7M$1.0BQ2 2024$646M$1.6BQ3 2024$287M$1.4BQ4 2024$362M$536MQ1 2025$472M$1.3BQ2 2025$698M$2.1BQ3 2025$241M$1.2BQ4 2025$391M$829MQ1 2026
Latest (Q1 2026): Net income $391M, Operating cash flow $829M.
Entergy: diluted shares by fiscal year (split-adjusted)Entergy: diluted shares by fiscal year (split-adjusted)402MFY2020404MFY2021411MFY2022425MFY2023432MFY2024450MFY2025
+11.9% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2022.
Entergy: long-term debt falling due (FY2025)Entergy: long-term debt falling due (FY2025)$2.4B2026$1.1B2027$2.2B2028$406M2029$917M2030
Cash $1.9B, short-term investments —, long-term debt $30.3B at 2025-12-31.
Entergy in its industry: growth against margin (53 companies, SIC 4911)Entergy in its industry: growth against margin (53 companies, SIC 4911)revenue growth, year over year →↑ operating marginmedian +10%median 24%Southern Power CoSONEEFlorida Power & Light CoCEGNRGAEP Texas Inc.VSTDAEPEIXFirstEnergy Pennsylvania Electric CoETI-PDTEFEEAITVEPublic Service Co of New HampshirePPLOncor Electric Delivery Co LLCCNPPNWWELPPTLNPuget Energy IncOGEHEPORHawaiian Electric Co IncTampa Electric CoBasin Electric Power CooperativeTXNMIDAOglethorpe Power CorpIpalco Enterprises, Inc.Tucson Electric Power CoClearway Energy LLCCWENFirstEnergy Transmission, LLCTri-State Generation & Transmission Association, Inc.ITC Holdings Corp.BKHCleco Corporate Holdings LLCOld Dominion Electric CooperativeCleco Power LLCXIFROTTRORAHNRGGreenbacker Renewable Energy Co LLCSPRUOPTTETR (+12%, 18%)
Electric Services; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

Power grid & electrification money flowPower grid & electrification · buyer

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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Customers and suppliers named in filings

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About Entergy

Entergy’s business is subject to numerous risks and uncertainties that could affect its ability to successfully implement its business strategy and affect its financial results. Carefully consider all of the information in this report and, in particular, the following principal risks and all of the other specific factors described in Part I, Item 1A of this report, “Risk Factors,” before deciding whether to invest in Entergy or the Registrant Subsidiaries. • The terms and conditions of service, including electric rates, of the Registrant Subsidiaries are determined through regulatory approval proceedings that can be lengthy and subject to appeal, potentially resulting in lengthy litigation and uncertainty as to ultimate results.

In its own words, from its 10-K, filed Feb 19, 2026.

Entergy against its Electric Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +13%. Operating margin: 18.0% against the peers' median 26.9%.

CompanyQuarterRevenueY/YOp. margin
ETR EntergyQ1 2026$3.2B+12%18.0%
Southern PowerQ3 2026$8.8B+13%33.9%
NEE NextEra EnergyQ3 2026$8.1B+2%32.4%
Florida Power & LightQ2 2026$7.5B+12%29.7%
CEG Constellation EnergyQ2 2026$7.5B+23%7.7%
NRG NRG EnergyQ2 2026$7.5B+11%13.0%
AEP TexasQ3 2026$6.8B+14%26.5%
VST VistraQ3 2026$6.3B+28%26.9%
D Dominion EnergyQ3 2026$5.6B+24%32.8%

Source: Entergy 10-Q on SEC EDGAR · CIK 65984 · Electric Services

13F: who owns ETR and who is buying

Largest holders of ETR (13F)Largest holders of ETR (13F)Vanguard Group$5.4BBlackRock$4.9BVanguard Capital Management LLC$3.5BVanguard Portfolio Management LLC$3.1BState Street$2.9BBank of America$2.0BAmeriprise Financial$1.6BFMR LLC$1.5BGeode Capital Management, LLC$1.4BMorgan Stanley$1.1B
Funds' net buying of ETR by quarter (13F)Funds' net buying of ETR by quarter (13F)−$23.0M2024-09$65.5M2024-12$984M2025-03−$123M2025-06$491M2025-09−$20.9M2025-12$167M2026-03$2.8B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ETR

History

Every quarter: Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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