NEW ORLEANS, LA - Entergy New Orleans, LLC, an energy company providing electric and other services, announced the appointment of Kimberly A. Fontan to its Board of Directors, effective as of November 1, 2024. In a recent SEC filing, the company stated that Ms. Fontan would not receive any compensation for her role as a director.
The filing disclosed no prior arrangements or understandings between Ms. Fontan and any other individuals regarding her appointment. Additionally, there are no reported family relationships between Ms. Fontan and any current director or executive officer of the company, nor does she have any material interest in any related party transactions that would require disclosure under SEC regulations.
Entergy New Orleans, with its principal executive offices located at 1600 Perdido Street, has been operating under various names since its name change from New Orleans Public Service Inc. in 1992. The company is incorporated in Texas and is listed on the New York Stock Exchange with mortgage bonds series due in December 2052 (NYSE:ENJ) and April 2066 (NYSE:ENO).
InvestingPro Insights
As Entergy New Orleans welcomes Kimberly A. Fontan to its Board of Directors, it's worth examining the company's recent financial performance to provide context for this leadership change. According to InvestingPro data, Entergy New Orleans' parent company, Entergy Corporation (NYSE:ETR) (NYSE:ENJ), has faced some challenges in the past year. The company's revenue for the last twelve months as of Q2 2024 stood at $839.4 million, representing a decline of 10.86% compared to the previous period.
Despite this overall decline, there are signs of improvement in the short term. The quarterly revenue growth for Q2 2024 showed a positive trend, increasing by 6.02%. This could indicate that the company's strategies are beginning to yield results, potentially influenced by its governance decisions, including board appointments.
Profitability metrics reveal a nuanced picture. The company maintained a gross profit margin of 35.46% over the last twelve months, with gross profits reaching $297.65 million. Operating income and EBIT both stood at $6.22 million, while EBITDA was reported at $89.91 million for the same period.
InvestingPro Tips highlight additional insights that could be relevant to investors considering the impact of the new board appointment:
1. Entergy has maintained dividend payments for 28 consecutive years, showcasing a commitment to shareholder returns even during challenging periods.
2. The company's earnings per share growth has outperformed the industry average over the past three years, indicating resilience in its core business model.
These tips, along with 9 additional insights available on InvestingPro, can provide a more comprehensive view of Entergy's financial health and strategic direction as it evolves its leadership team.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.