Entergy: Investor day preview: focus on plan extension and execution

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Entergy: Investor day preview: focus on plan extension and execution

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Entergy

Investor day preview: focus on plan

extension and execution

Maintain Rating: NEUTRAL | PO: 112.00 USD | Price: 110.74 USD

Realization of the current plan is key 08 June 2026

We maintain our Neutral rating on Entergy Corp. (ETR). ETR’s investor day is likely to Equity

focus on the execution challenges of a much larger growth plan while reinforcing that

affordability remains central to the company’s strategy. Current ’26 EPS guidance of RossResearchFowler,AnalystCFA

$4.25–$4.45 and a ’29 outlook of $6.25–$6.55 already frame a >8% EPS CAGR, with the BofAS

key update likely to be the extension of that trajectory into 2030. The growth outlook is +1ross.fowler@bofa.com646 855 1506

supported by the expectation for ~8.5% retail sales growth and ~16% industrial growth F. Paul Cole

through ’29, largely driven by data centers and broader industrial development. Research Analyst

BofAS

+1 646 743 2122

paul.cole2@bofa.comBuilding bigger; investors/policy makers need handholding

We expect a deeper dive on the company’s $57B ’26–’29 capital plan and the execution Rinny Singh

Research Analyst

roadmap behind it, including $27B of new generation, $9B of transmission and $8B of BofAS

distribution investment. The discussion will likely center on turbine availability, project +1 646 855 5729

rinny.singh@bofa.com

cadence, regulatory approvals and cost control across a major buildout that includes

Nicolas Woods

more than 5.2 GW of Meta-related CCCTs in Louisiana, while also emphasizing the Research Analyst

importance of continued support from regulators and policymakers. We will also be BofAS +1 646 556 4179

looking to see if the remaining 7–12 GW data center pipeline can support further upside.