Entergy hits record high on profit forecast raise for coming years

Shares of U.S.-based utility company Entergy ETR.N hit record high, now up 2.9% at $90.82

Company raises its profit forecast for the latter half of the decade, driven by rising electricity demand from AI-driven data centers and electrification trends

ETR raises its adjusted profit forecast for 2027 to a range of $4.70 to $5.00 per share from $4.65 to $4.95 per share

For 2028, ETR expects profit between $5.20 and $5.50 per share vs. its prior forecast of $5.10 to $5.40 per share

Company also increased its four-year capital expenditure plan to $40 billion, from $37 billion previously

ETR beat Q2 profit estimate with $1.05 per share vs estimate of 92 cents per share - data compiled by LSEG

Including session's move, ETR shares up 19.5% YTD