Entergy Corp. reported third-quarter 2026 results on Nov. 2. The New Orleans utility holding company said industrial sales grew 4.9 percent in the quarter, "driven by higher sales to data center and primary metals customers." The release, filed with the Securities and Exchange Commission as Exhibit 99.1 and distributed on PR Newswire, also lists a large transmission approval in Louisiana: the Louisiana Public Service Commission (LPSC) approved Entergy Louisiana's $1.2 billion Babel to Webre transmission project.
The quarter's headline numbers are about earnings. For data center developers, grid planners and communities in Entergy's service territory, the more useful part is the sales data. It shows how the company describes the load it is seeing.
The sales numbers
Entergy's release gives growth in weather-adjusted terms, which strips out the effect of temperatures that differ from normal. "For the quarter, weather-adjusted retail sales increased 4.5 percent. Residential sales growth was 6.1 percent. Industrial sales growth was 4.9 percent, driven by higher sales to data center and primary metals customers. Commercial sales increased 1.9 percent," the company said.
TradingKey's summary of the results gives the underlying volumes. According to TradingKey, total retail sales were 39,864 gigawatt-hours (GWh) in the quarter, compared with 37,124 GWh a year earlier, an unadjusted increase of 7.4 percent. Industrial sales were 17,055 GWh against 16,255 GWh, up 4.9 percent. Residential sales were 13,163 GWh against 11,692 GWh, an unadjusted increase of 12.6 percent. Wholesale sales went the other way, falling to 3,528 GWh from 4,079 GWh, down 13.5 percent, TradingKey reported.
The gap between the unadjusted residential figure (12.6 percent) and the weather-adjusted one (6.1 percent) shows how much weather shaped the quarter. TradingKey reported that weather added $0.24 per share in the third quarter, compared with $0.06 in the same quarter a year earlier.
Industrial growth matched in both measures: 4.9 percent weather-adjusted in Entergy's release and 4.9 percent on the volumes TradingKey reported. That fits with industrial demand being less sensitive to temperature than household demand. Entergy does not say how much of the industrial increase came from data centers and how much from primary metals customers. It also does not name the data center customers behind the growth.
Earnings and guidance
Entergy reported third-quarter earnings per share of $1.98, both as reported and on an adjusted basis, compared with $1.53 in the prior-year quarter. Earnings were $940 million, compared with $694 million. The Utility business earned $1,079 million, according to the release; TradingKey put Utility earnings at $2.28 per share.
The company narrowed its 2026 adjusted EPS guidance to a range of $4.35 to $4.45. It also raised its quarterly dividend 6 percent, to 68 cents per share. Drew Marsh, Entergy's chair and chief executive officer, is quoted in the release.
TradingKey reported quarterly operating cash flow of $2.235 billion. It said year-to-date cash flow benefited from advance payments associated with customer agreements. TradingKey also reported that adjusted net debt-to-capitalization was 56 percent, compared with 62 percent, and that junior subordinated debentures stood at $4.0 billion, compared with $1.2 billion. The summary does not identify which customer agreements produced the advance payments.
Babel to Webre: the transmission approval
Among the quarter's business highlights, Entergy lists the LPSC approval of Entergy Louisiana's Babel to Webre transmission project, which the company puts at $1.2 billion. The release states the approval and the cost. It does not give the line's route, length, voltage or construction schedule. Those details would be in the LPSC docket and Entergy Louisiana's filings, not in the earnings release.
The release's risk-factor language cites the challenge of meeting demand "from large-scale data centers and other large customers." That phrasing appears in the release's list of risks and uncertainties, alongside the risk that contracted or expected load growth does not materialize or is not sustained.
Other highlights: Arkansas and Texas
The release lists two other developments tied to large-load growth and supply.
In Arkansas, Entergy Arkansas announced an expansion of its service agreement with Google. The earnings release lists it as a highlight without adding new terms.
In Texas, Entergy reported that the Orange County Advanced Power Station is operational and delivering power to Entergy Texas customers. The release does not give the plant's capacity, so this article does not state one.
What the release does not say
Several questions that matter to readers following the data center buildout are not answered in the quarterly materials:
- How much of the 4.9 percent industrial growth came from data centers versus primary metals customers.
- Which data center customers or sites account for the higher sales, apart from the Google agreement in Arkansas.
- The physical details and in-service timing of the Babel to Webre line.
- Which customer agreements produced the advance payments TradingKey mentioned.
Earnings calls and later regulatory filings sometimes fill gaps like these. The documents reviewed for this article do not.
What Happens Next
Entergy's third-quarter release does not name a next scheduled regulatory hearing, vote, docket deadline or construction milestone for the Babel to Webre transmission project, the Arkansas Google agreement or the Orange County Advanced Power Station. The release reports the LPSC approval of the Babel to Webre project as complete. Any later steps, such as construction start or in-service dates, are not stated in the sources reviewed here. DataCenterFeed will report scheduled milestones when they appear on the record.
