Entergy Corporation (ETR) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 2, 2023 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello. Good morning. My name is Jeremy, and I will be your conference operator today. At this time, I would like to welcome everyone to Entergy's Second Quarter 2023 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Bill Abler, Vice President of Investor Relations for Entergy Corporation.

Bill Abler

Good morning, and thank you for joining us. We will begin today with comments from Entergy's Chairman and CEO, Drew Marsh, and then Kimberly Fontan, our CFO, will review results. In an effort to accommodate everyone who has questions, we request that each person ask no more than two questions.

In today's call, management will make certain forward-looking statements, actual results could differ materially from those forward-looking statements due to a number of factors, which are set forth in our earnings release, our slide presentation and our SEC filings. Entergy does not assume any obligation to update these forward-looking statements. Management will also discuss non-GAAP financial information. Reconciliations to the applicable GAAP measures are included in today's press release and slide presentation both of which can be found on the Investor Relations section of our website.

And now I will turn the call over to Drew.

Drew Marsh

Thank you, Bill, and good morning, everyone. Today, we are reporting second quarter adjusted earnings per share of $1.84. Our progress through the first half of the year keeps us firmly on track to achieve 2023 results in line with our guidance. and we remain well positioned to achieve our long-term 6% to 8% growth outlook.

Creating sustainable value for our customers, employees, communities and owners is at the center of everything we do.

I'll start today with our work to meet our customers' demands. We're investing in resilience and reliability and working to expand our clean energy footprint. This work helps our current customers meet their goals while also attracting new customers to Entergy's service area. To that end, our power delivery team continues to upgrade legacy assets to new, more robust wind and flooding standards through new construction projects, storm restoration and asset renewal. For example, in the second quarter, our new deployments included roughly 600 transmission structures, approximately 8,000 distribution poles, more than 200 miles of new distribution conductor and 7 new substations. In addition, these improvements will support more than 120 megawatts of growth.