In a recent SEC filing, Entergy, a leader in the electric services industry, announced the appointment of new directors for several of its subsidiaries. Entergy Arkansas, LLC, Entergy Louisiana, LLC, Entergy Mississippi, LLC, Entergy New Orleans, LLC, and Entergy Texas, Inc., have all seen changes in their board of directors, effective from July 1, 2024.
The appointments were made by written consent, in lieu of a meeting, by Entergy Utility Holding Company, LLC (EUHC), the sole owner of the common membership interests of the aforementioned subsidiaries, except for Entergy Texas, Inc., where Entergy Corporation (NYSE:ETR) is the sole common stock owner.
For Entergy Arkansas, LLC, Kimberly A. Fontan, Laura R. Landreaux, Peter S. Norgeot, Jr., and Roderick K. West were elected as directors. Entergy Louisiana, LLC's new directors include Kimberly A. Fontan, Phillip R. May, Jr., Peter S. Norgeot, Jr., and Roderick K. West. Entergy Mississippi, LLC will see Haley R. Fisackerly, Kimberly A. Fontan, Peter S. Norgeot, Jr., and Roderick K. West join its board.
Entergy New Orleans, LLC's board now includes Peter S. Norgeot, Jr., Deanna D. Rodriguez, and Roderick K. West. Lastly, Entergy Texas, Inc. appointed Kimberly A. Fontan, Peter S. Norgeot, Jr., Eliecer Viamontes, and Roderick K. West as directors, with their roles becoming effective on August 21, 2024. This delay is due to a notification period required for the holders of Entergy Texas's preferred stock.
InvestingPro Insights
Amidst the reshuffling of Entergy's board of directors, investors and stakeholders may find it useful to consider the latest financial metrics provided by InvestingPro. Entergy has reported a slight decline in revenue growth over the last twelve months as of Q1 2024, with a decrease of 0.42%. Despite this, the company has shown a stronger quarterly revenue growth of 6.74% in Q1 2024. This juxtaposition of short-term growth against a minor long-term dip could be indicative of Entergy's evolving business dynamics in the face of new leadership.
Furthermore, Entergy's gross profit for the same period stands at $1.11 billion, with a gross profit margin of 41.51%, reflecting solid profitability in its operations. Its operating income, adjusted EBIT, and EBITDA are also noteworthy, with EBITDA experiencing a growth of 2.53%, marking a steady operational performance.
For investors keeping an eye on shareholder returns, the ex-date of Entergy's last dividend was May 31, 2024, and the stock's previous close was priced at $21.56. To gain deeper insights into Entergy's financial health and strategic direction, readers may consider the additional 15+ InvestingPro Tips available. Using the coupon code PRONEWS24, readers can receive up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking advanced analytics and expert perspectives that could further inform investment decisions.
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