With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Leaders in all industries rely more than ever on Big Tech—and appreciate the giants that deliver, at scale, without drama.

World's Most Admired Companies

Industries included in the sector are mining, oil and gas exploration and services, pipelines, refining, and utilities.

Fortune Sector Leaders: Energy

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

This year’s Fortune 500 marks the 68th running of the list.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-300-Entergy

Based in New Orleans, the energy company focuses it efforts on providing power to the southern U.S. by servicing electric customers in Louisiana, Texas, Arkansas, and Mississippi.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-293-Entergy

Entergy produces and distributes electricity across areas of Texas, Arkansas, Louisiana, and Mississippi.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune 500 marks the 62nd running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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A key utility player, Entergy serves approximately 3 million customers across Arkansas, Louisiana, Mississippi, and Texas. Entergy is engaged in electric power production, transmission, and retail distribution. The company owns and operates a diverse power generation portfolio with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power, making it one of the cleanest large-scale U.S. power-generating fleets. Committed to sustainability, Entergy is investing in cleaner energy generation sources, including modern natural gas, nuclear, and renewable energy, while also enhancing the reliability and resilience of its energy system. The company also is poised to grow through the data center boom, including building new power generation in cooperation with Meta and others.

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Entergy (ETR): Company Profile, Stock Price, News, Rankings

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Entergy

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Good morning. My name is Greg, and I will be your conference operator today. At this time, I would like to welcome everyone to the Entergy Corporation First Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session.

Thank you. I will now turn the call over to Liz Hunter, Vice President of Investor Relations for Entergy Corporation. Liz, you have the floor.

Thank you, Greg, and thanks to everyone for joining this morning. We will begin today with comments from Entergy's Chair 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 these 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.

Thank you, Liz, and good morning, everyone. We had a very productive start to the year with progress on activities to support our near and long term objectives. Important updates to facilitate customer growth include new customer announcements, regulatory outcomes, and new legislation. Starting with our financial results for the first quarter, today, we are reporting adjusted earnings per share of $0.82 We're on track for 2025 guidance, and we remain well positioned to attain our greater than 8% adjusted earnings per share compound annual growth rate for the outlook period. Kimberly will discuss our financial results in more detail.

As you've heard us say, we aim to create value for all our stakeholders, customers, employees, communities, and owners. And customers are listed first because everything starts there. The opportunities driving our industrial sales growth continue to be robust. There is increasing visibility into our growth, including three announcements from large customers since our last call. In March, Hyundai Motor Group announced a $5,800,000,000 investment in Hyundai Steel, a manufacturing facility with and an engine for economic growth in Ascension Parish, Louisiana.

Then in early April, CF Industries announced that it reached its final investment decision on its $4,000,000,000 investment in a low carbon blue ammonia facility, which we located near Hyundai Steel. This project was first announced in 2022. And just today, Woodside announced that they have reached FID on their $17,500,000,000 LNG facility, bringing jobs and investment to Coastal Louisiana. These projects are expected to come online in 2028 and into 2029 and were assumed in our outlooks last quarter. These customers diversify our industrial mix.

They also provide important benefits to the nearby communities through substantial local investment, significant growth, and workforce development. We've demonstrated a long history of powering industrial growth as businesses establish and expand operations in the Gulf South region. Hyundai Steel, CF Industries, and Woodside LNG are examples of this trend continuing. As more companies consider investment in The US, the Gulf South remains a very attractive option with low power costs, robust energy and transportation infrastructure, access to diverse energy sources, a business friendly environment, a proven workforce, and welcoming communities. Data centers are a more recent addition to our large customer portfolio, and we remain in productive discussions for many potential projects.

We continue to receive strong interest and optimism from hyperscale developers about the incredible opportunity before them, and our data center pipeline remains in the five to 10 gigawatt range. We are executing on our capital plan to support that strong customer growth as well as improved reliability and resilience. We continue to make progress in the Orange County Advanced Power Station. The project is approximately 70% complete with more than 1,000,000 man hours worked with no safety incidents. The project remains on schedule and on budget with a projected in service date by summer of next year.

Delta Blue's advanced power station in Mississippi is in earlier phases of construction and is also on schedule and on budget. At the same time, we're exploring the potential to increase the capacity of our existing combined cycle natural gas facilities by nearly 500 megawatts. For nuclear, we completed the spring refueling outage at River Bend on schedule. During the outage, we conducted extensive work on the main generator to support long term reliable operations. The Waterford Three refueling outage is now underway.

Planned work includes replacement of low pressure turbine rotors that will improve efficiency and pave the way to increase the capacity of the plant by an estimated 40 megawatts in the fall of twenty twenty six. We continue to assess potential capacity upgrades at our other nuclear plants that could total approximately 275 megawatts. As we mentioned before, we have an NRC early site permit for potential new nuclear facility at Grand Gulf, which expires in April 2027. We intend to renew the permit for another twenty years to maintain a viable option for new nuclear. We are in discussions for with customers, potential partners, and other stakeholders regarding that opportunity.

As you can see, our operations and project management development teams are doing a great job keeping us on track to support our customers' needs. In addition to our efforts in operations, we are working with our regulators and other stakeholders on important dockets that address infrastructure needs to support growth, reliability, and resilience. Efficient review processes are critical to stay on track to meet our customers' expectations. Entergy Louisiana received approval from its public service commission to place the capital investment from Hurricane Francine into rates subject to a future prudence review. This means our recovery started less than two months from filing and six months after the storm.

A faster recovery reduces carrying costs and supports Entergy Louisiana's credit, both of which keep costs low for customers. The LPSC also approved the half billion dollar Westbank 2 hundred and 30 kV transmission project that will support customer growth and economic development. In addition, we have a major 500 kV transmission project in Louisiana that is pending commission review. Separately, we received the final approval needed for Entergy Louisiana gas LDC sale from the East Baton Rouge Parish Council. Retargeting to close the sale of both Entergy Louisiana and Entergy New Orleans gas businesses in July.

Entergy Louisiana's filing to support its hyperscale data center customer continues to move forward. Parties have filed testimony, the hearing is scheduled for mid July. We remain on track for an LPSC decision in October. For Entergy Louisiana's three gigawatt solar RFP, the first round of procurement is complete, and we're moving forward two proposals for owned assets that total 400 megawatts. Proposals in the second quarter were received in mid April, and we are targeting selections later this quarter.

In Texas, the PUCT approved placing $137,000,000 of transmission investment into rates. We've also requested a certificate of convenience and necessity for a large transmission project in Texas known as Seetex, s e t e x. The hearing is scheduled for May, and we are targeting a commission decision by the August. Entergy Texas' request for generation CCNs are continuing as expected. Hearings for Legend and Lone Star dispatchable generation projects as well as renewable resources are complete.

Briefings have begun, and no parties have disputed the need for new generation to meet growing demand. We are targeting decisions in the third quarter. In Arkansas, the APSC issued a certificate of environmental compatibility and public need for Lake Catherine Unit 5. This plan is important to support Arkansas' customer demand. Entry Mississippi received approval to build a combined cycle gas plant in Richland County.

This facility will serve the growing demand in our Mississippi service area. And Entergy Mississippi also filed its annual form of rate plan with no rate change requested. We expect the commission to take this up over the next few months. Turning to legislative matters. Arkansas recently completed its session, setting the stage for future growth in the state.

Act three seventy three, signed into law by the governor, supports economic development and growth and will benefit our customers and communities. Specifically, the legislation allows recovery for new generation capacity and certain transmission investments outside of the formula rate plan's 4% cap. It also streamlines and simplifies the process for certification of public need to allow for faster response to economic development while maintaining regulatory oversight. Additionally, the new law allows utilities to recover carrying costs on construction work in process during construction, thus lowering costs for customers. Texas is also in a legislative session.

One of the bills of interest for us will accelerate the regulatory review and approval for storm securitization to one hundred and fifty days, significantly faster than previous reviews. More timely reviews benefit customers through lower carrying costs and improved credit. The Texas legislative session continues through June 2. Turning to tariffs. We know tariffs are certainly a topic that we know you're interested in.

It's top of mind for us as well, and we are actively engaged in monitoring as the landscape evolves. There are several considerations, and the bottom line is that we believe tariffs impacts are manageable. The current tariffs would primarily impact capital expenditures, and we estimate that the impact to be approximately 1% of our $37,000,000,000 4 year capital plan. The vast majority of the dollar impact is in the back end of our forecast period, It provides time to continue to reduce those effects through additional supply sources. To mitigate potential impacts, we are working with our suppliers to develop alternative supply sourcing strategies.

In addition, our ongoing cost management efforts as well as contingencies in our spending plans will help us manage our costs. For example, at Analyst Day last summer, we talked about our disciplined capital prioritization and review processes to drive customer value. To date, we've identified greater than $1,000,000,000 of capital that was redeployed into other projects to benefit customers. We're making every effort to reduce the effects of tariffs for our customers, working hard to make ends meet, and competing in a global marketplace. To that point, we're also actively monitoring what this means for our customers' businesses.

Our large industrial customers are highly competitive in domestic and global markets. Commodity spreads continue to be supportive in part due to the structural advantage of low cost natural gas. I'd like to highlight a few specific examples. LNG exports are likely to increase due to the natural gas advantage, which would help bridge the trade deficit, and I just mentioned the Woodside announcement as a case in point. Ammonia has a strong competitive position due to low natural gas prices in The US, and companies are moving forward investment in clean energy technologies as the CF Industries example illustrates.

The petrochemical sector also enjoys structural advantages from low cost natural gas liquid feedstock and potential decreases in global production would likely come from the European Union. Beyond the price advantages of natural gas, companies seeking domestically produced materials to manage tariffs could cause sectors such as steel that are not currently running at full capacity to ramp up production. Overall, commodity fundamentals still favor U. S. Manufacturing.

As a result, our service area remains well positioned to capture new onshoring and industrial development with the Gulf Coast advantages that we talked about for some time and that I managed that I mentioned earlier. These foundational elements can facilitate even further expansion of the broad industrial manufacturing base and supporting services in our region. As I said, we believe tariff impacts are manageable. And with everything we know today, we remain confident in the guidance and outlook initiated on last quarter's call. Before I wrap up, tomorrow, our COO, Pete Norgeo, is retiring.

Over his ten plus years at Entergy, Pete transformed our power generation team, closed out our exit from the merchant power business. In the last couple of years as COO, he re centered us on public safety while preparing us to manage the large capital investments responding to customer demands. Pete is also a good friend. We will miss him, and we wish him well in the next chapter. Moving into the COO role is Kimberly Cook Nelson, who's been driving our steadily improving nuclear operations over the last few years.

A leader in the nuclear industry, she brings a wealth of leadership experience, operational discipline, and project management skills to the COO role, which has served us well for the growth investment road ahead. Finally, John Donnelli is taking over as chief nuclear officer. He's a long time Entergy employee, having started here when we purchased Indian Point. He has held many leadership roles within the nuclear organization, and recently, he has served as our nuclear COO, helping lead the cultural changes needed to continue our relentless pursuit of improvement in nuclear operations. While we are sad to see Pete go, we're excited about the new opportunities that will come from the leadership of Kimberly and John.

And finally, we're saddened to learn of the passing of Alexis Herman over the weekend. From her beginnings in Alabama along the Gulf Coast, she attended Xavier University right here in New Orleans, and then went on to become secretary of labor among many other accomplishments. Of course, we know her from her twenty years of service on our board of directors. Beyond her outstanding wisdom and insight, she was a friend, a mentor, and an inspiration to all of us, and we will miss her dearly. Although we are sad, Alexis would be proud of our great start to the year.

We are on the path to meet our stakeholders' expectations in 2025 with solid progress across key customer operational, legislative, and regulatory fronts. We are executing on our plan to realize the opportunity in front of us, and we're confident we can be successful. To continue to put our customers first, we will deliver premium value to each of our key stakeholders. I'll now turn the call over to Kimberly.

Thank you, Drew. Good morning, everyone. Today, I will review our financial results as well as our guidance and outlook. I'll also talk about tax credits and their potential financial impacts. Starting with earnings, our adjusted earnings per share for the quarter was $0.82 This result keeps us firmly on track for our adjusted EPS guidance for the year.

The quarter's adjusted EPS drivers are shown on Slide four. Key highlights include higher retail sales volume, including the effects of weather effects from regulatory actions, including recovery of investments to benefit customers and lower other O and M than first quarter last year. These favorable effects were partially offset by higher interest expense and depreciation as a result of investments. First quarter weather adjusted retail sales growth was strong at 5.2%. The industrial sales increase was the biggest driver at 9.3%, reflecting increases in usage from customer additions over the course of 2024 as well as continued ramp of new and expansion customers.

Slide five provides our credit ratings and affirms that our credit metric outlooks remain better than agency thresholds. Our ongoing focus on credit has created flexibility to manage volatility and headwinds. Availability and transferability of renewable tax credits continue to be a topic of interest. Nuclear production tax credits or PTCs became effective in 2024. The treasury department has not issued guidance on how to determine gross receipts for purposes of calculating the amount of nuclear PTCs generated.

We are evaluating our position with respect to these credits and will finalize our position prior to our 2024 corporate tax filings. As a reminder, cash benefits from nuclear PTCs are not included in our outlooks, so any nuclear PTCs that are realized would be positive to our plan. Our 2027 and 2028 outlooks include tax credits of approximately $170,000,000 and $350,000,000 respectively, on more than $5,000,000,000 of renewable investments through 2028. If the transferability rules change, we would expect to monetize the credits using tax equity. We continue to safe harbor as many projects as possible in the event that the credits phase out sooner than the current rules provide.

However, even if we were to lose all the renewable tax credits assumed in our guidance, our credit metrics would still exceed rating agencies' thresholds. Turning to slide six, our equity needs are unchanged since our last update. During the quarter, we executed an approximately $1,500,000,000 block equity forward, including the green shield. Prior to the equity block, we contracted roughly $230,000,000 using ATM forwards. With these transactions, we have successfully secured our equity needs into 2027, and we've contracted approximately two thirds of our needs through 2028, ensuring access to capital needed to execute on our capital plan.

No forwards were settled during the quarter. As shown on slide seven, we are affirming our adjusted EPS guidance and outlooks. For 2025, we're firmly on track. Weather and other updates in the first quarter create flexibility to manage the business in response to potential volatility and other headwinds. Looking ahead to the second quarter, we expect other O and M to be roughly a nickel higher than last year, primarily due to planned power generation spending, including the timing of outages and timing of vegetation management expenses.

We have confidence in our plan and our ability to deliver on our guidance and outlook. We've had a strong start to the year and have a solid plan to support our growing customer base. We are excited about the opportunities before us and remain well positioned to execute and deliver successful outcomes. And now the Intrigy team is available for questions.

Thank you. And as Liz mentioned earlier, in the interest of time, we ask that you please limit yourself to two questions. Thanks. It looks like our first question today comes from the line of Shar Pourreza with Guggenheim Partners. Shar, your line is open.

Good morning, team. Congrats on a great quarter. It's actually Constantine here for Sharpe.

Just as we're thinking about the Arkansas generation bill, do you feel the state is now fully competitive on the data center front in terms of providing turnkey interconnection? Have there been any inbound thus far, or do you need any further rate design improvement?

No. I think I Sean, it's Drew. Sorry. Constantine, this is Drew. The, we feel that they are fully competitive at this point, and, you know, we are talking to potential customers of the state of Arkansas.

We have a lot of of interest there, and so we are we are working down that path right now.

Excellent. And then maybe in terms of the financing updates, just last quarter, the guidance was for 75% of the equity to be after 2026, and looks like that might be accelerating slightly. Does that imply an acceleration of credit metric improvement or any other moving pieces you wanna highlight?

Yeah. There hasn't been a substantial change in the timing of the equity needed. We we contracted forward into '27, but, and our credit metrics through '28 continue to build towards and up to 15%. So we see strong flexibility in credit, but I wouldn't assume a whole lot of shift in, in the equity needs and and the timing of the equity, in that period.

And any any anything that drove such a big forward volume in January relative to last quarter, or is that just an optimization?

Yeah. Really was taking risk off the table. We had an opportunity to execute on that forward and, you know, given volatility and the the equity that we needed that we believed we could continue to satisfy with the ATM. But we had an opportunity to close some of that out. And so we took advantage of that and and set ourselves up to be able to manage volatility over the next couple of years.

Excellent. Appreciate that. Thanks for taking the questions. I'll jump back in queue.

Thanks, Constantine. And our next question comes from the line of Jeremy Tonet with JPMorgan. Jeremy, your line is open.

Just want to look at the sales a little bit here. I think that your residential customer count might have been up just under 1% quarter over quarter. And your weather normalized sales, if I'm seeing this right, for residential went up about four and a half percent. I was wondering if you could talk a bit more about drivers there.

Yeah. Good morning, Jeremy. It's Kimberly. You know, I wouldn't look too much at the specifics on the quarter over quarter. You're gonna see some volatility in the counts.

What we expect are residential sales to be about 1% for the full year, and our sales overall to be about five and a half percent. So still strong sales over the year, but you're gonna see some volatility in a in a given quarter on a on a quarter over quarter basis.

Got it. That's helpful. Thanks. And just moving to industrial sales, and as you said, it'll be, volatile any given quarter, but it seems like there's a degree of macro uncertainty out there that might be weighing on industrial activity a bit. Just wondering if you could provide any thoughts from from your viewpoint on your service territory.

Yeah. When we think about our industrial customers, you know, we have had more than 5% growth for over fifteen years, and that's included a number of periods where there were various economic factors happening in those periods. And I think the three industrial customers that Drew referenced in his comments coming in just this quarter or over the last couple months underscores the opportunity that we have for our traditional customers, and then we continue to have, significant opportunity in the data center space. So, you know, our customers are making thirty year decisions. There's our short term volatility that they may have to manage through, but we see those decisions coming through, And we continue to see a lot of opportunity, through our pipeline as we go forward.

And I'll just point to the rule of thumb that we have in our materials for industrial sales is, you know, 1% change in a given year is only about a penny of impact. So, it's a pretty well derisked because of the high level of demand charges, that we have, in the industrial customer space.

Got it. That's helpful. And just one last one if I could. Just as far as the the winning these new packages here and increasing the pipeline of big activity, I wonder if you could provide more color what it looks like, I guess, on conversations with data center or other large industrial users, you know, how you see that, I guess, coming together in this environment. Has anything changed?

Yeah. Jeremy, the Drew referenced that we had five to 10 gigawatts in our data center discussions. Those are still strong and ongoing discussions. Our pipeline in our other customers hasn't really changed from the last time that we gave that that level of detail. We continue to have strong conversations.

You know, our our pipeline is in our forecast. It's on a weighted probability bay basis, and Drew referenced that these customers were in our forecast. But, certainly, they are hitting at a faster and higher success rate that enables us to continue to serve them. But if that rate continues, we'll have to look at incremental capital to support continued growth.

Yeah. That's a that's a good point. I mean, the and outside of data centers, you know, we probably weight everything. And the three announcements that we gave you were in our forecast, but they were probability weighted. And so now the the sales expectation for them are much higher than what we originally anticipating and taking up the space that the other probability weighted customers, you know, might have been taking up.

So there could be additional capital needed should those customers come in, and and we do expect some of them to come.

Got it. That's helpful. I'll leave it there. Thanks.

Thanks, Jeremy. And our next question comes from the line of David Arcaro with Morgan Stanley. David, please go ahead.

I was wondering if you could maybe just give a maybe an update or a profile of your system. You know, as you're looking at some of these large load customers in the pipeline, how quickly can you offer them, you know, service to connect in? You know, time to power has been a focus among that cohort. So curious just what the latest is in terms of how quickly you can accommodate new, large load customers.

Yeah. This is Drew, and then I'll see if, Kimberly wants to add anything. But the the we do have, positions and queues in order to, you know, provide generation to, potential customers. You know, as you all know, those queues are full, but, you know, our positions, we believe, would allow us to continue to offer up opportunities for customers. At this point, it's near the back end of our our period, because there's just, you know, a lot to do, to make room for all this.

And and as you know, the the the three that we customers that we were talking about today are all in the 2028 moving in you know, ramping into 2029 kind of time frame. So that's kind of where we are in terms of potential opportunity. And so it doesn't really matter which kind of customers we're talking about. That's where that's where that opportunity will be sitting.

Got it. Yeah. That makes sense. Appreciate that color. Maybe just a a quick clarification on the tariff exposure.

Would you consider I guess, do you think of the tariff exposure as being earnings exposure? You know, is this, kind of already approved projects that now need to, that are gonna be more expensive or, this is out in the future, you know, will get, worked through regulatory processes over time? I know you're trying to offset it, but, how do you consider kind of earnings exposure, if any, from that?

Yeah, David. Most of that exposure, as you noted, is in '27 and '28, and most of it is also tied to new generation specific components to help, build those facilities. So we think that gives us time to find additional suppliers and mitigate that. So we don't see that being a real earnings effect. And and Drew mentioned some of the things we're doing to mitigate that, but we think that that is manageable within the forecast period.

Okay. Got it. Understood. I appreciate it. Thanks so much.

Thanks, David. And our next question comes from the line of Nick Campanella with Barclays. Nick, your line is open.

Hey, good morning. Thanks for all the updates.

to ask on '25. It just seems like you're off to a good start. You know, are you trending higher in the fiscal twenty five plan, just given the the weather tailwinds or other headwinds to kinda consider, for for later this year?

Yeah. We did have a good start to the to the year, but we as with any year, we use that to manage through the course of the business. Uncertainty, we obviously have the summer coming. It could be we could have a super hot summer or we could have a mild summer, and so we need to see how that plays out. But we'll use that flexibility to help us manage, but we're comfortable that we'll deliver our outlooks at the end of the year.

Okay. Great. Thanks. And then just on this new customer generation transmission filing, I know that we're kind of approaching hearings here as as kind of a a midterm data point. Just is there any potential or effort by the parties to wanna settle issues in the proceeding, or do you kinda see that going straight through, into the October order?

Yeah. This is true. You know, there is always the potential to settle, and so we will we will look at that. If those and those opportunities arrive, certainly, we'd always prefer to settle rather than go to hearing if we if we could. But, yeah, we have a good schedule, and and there's a lot of support for this investment in the state and among the stakeholders.

So we are, you know, we are confident that we will manage through the process and and get the the outcome that will benefit, customers and communities.

Thanks, Nick. And our next question comes from the line of Paul Fremont with Ladenburg. Paul, your line is open.

Hey, thank you very much and congratulations on a strong quarter. I guess my first question is, can you

load that's associated with the three customers?

Good morning, Paul. Unfortunately, I can't. We don't have authorization to talk about specific customer load, so we I wouldn't mention that to you. I would say, you know, these are large industrial facilities, and they would be on par with, you know, with things that you might see, in else elsewhere. But, I can't give you specifics, unfortunately.

And then the that your transmission filing in Texas, is that a three sixty five, five hundred, or three forty five k v line that you're proposing? And and, I guess, how many how many miles should we think of of additional transmission?

Yeah. That's a it's 500 k v, and it is a 30 to a 60 miles. It's there's a slide in the materials, on that that you can you can look at you can look at. And it actually will sort of terminate, ideally, with the line that we are requesting for approval in Louisiana. So you'll get in addition to customer support, I think you'll get a a good resilience benefit out of that as well to to help us with storms.

And sort of last question there, what would be the completion if you were to, be awarded the project? What what would be the completion date?

We think it would be just outside of our our outlook period, in 2029.

Thanks, Paul. And our next question comes from the line of Steve Fleishman with Wolfe Research. Steve, your line is open.

Yes. Just I guess just on the sales guide for '25, you took took it down a little bit. Just any I know it's still really good, but just any explanation for that?

Entergy (ETR) Q1 2025 Earnings Call Transcript

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