Financial Data and Key Metrics Changes - For Q1 2025, adjusted earnings were reported at $0.54 per share, unchanged from Q1 2024, with total earnings of $125 million compared to $124.7 million a year ago [5][25] - Retail demand grew by 2.7%, while weather-normalized demand decreased by 3%, indicating a mixed performance influenced by weather conditions and customer outages [27][28] - The company reaffirmed its 2025 adjusted EPS guidance range of $3.92 to $4.12 per share, with a midpoint of $4.02 per share [7][35] Business Line Data and Key Metrics Changes - The recovery of regulated investments contributed $0.13 to EPS, while higher depreciation and interest expenses due to increased infrastructure investments reduced EPS by $0.10 [26] - The industrial sector experienced a decline in demand primarily due to a large customer outage caused by an unplanned maintenance shutdown [27] Market Data and Key Metrics Changes - The customer pipeline expanded to 12.2 gigawatts, with significant projects in the actively building category, including a data center project in Missouri [12][14] - The company anticipates a ramp-up in demand from large customers like Meta and Panasonic in the second half of the year, contributing to overall growth [28][34] Company Strategy and Development Direction - The long-term outlook remains strong, with a target of 4% to 6% earnings growth through 2029, supported by a robust customer pipeline and favorable regulatory frameworks [7][35] - The Integrated Resource Plan (IRP) reflects an all-of-the-above strategy for new generation development, adding approximately 2.1 gigawatts of new generation from 2025 through 2035 [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the midpoint of the EPS target for 2025, citing strong operational performance and expected demand growth [29][35] - The company is committed to maintaining reliability and affordability while advancing a balanced generation portfolio [23][24] Other Important Information - Recent legislative outcomes in Kansas and Missouri are expected to enhance regulatory frameworks and support infrastructure investments [9][10] - The company is focused on managing operational costs and leveraging various levers to meet financial targets [81][84] Q&A Session Summary Question: Clarification on quarterly performance and expectations - The first quarter came in 5 cents below expectations, with a gross number of $3.97 before mitigating actions [40][41] Question: Timing of large customer contracts - The timing for the 1.3 gigawatts is linked to finalizing large load power service tariff proceedings, expected to conclude by year-end [43][45] Question: Impact of sales growth on equity - Increased sales could significantly reduce equity needs, potentially hundreds of millions of dollars over the five-year period [52][53] Question: Coal plant retirement rationale - The timing for coal plant retirements was extended due to the need for flexibility and the age of the units, with considerations for environmental regulations [76][78] Question: Large load tariff discussions - The company is engaged in constructive dialogue with large customers regarding tariff proceedings, which are crucial for future growth [90][93]

Financial Data and Key Metrics Changes - The company reported first quarter adjusted earnings of $0.54 per share, unchanged from the previous year [5][27] - Retail demand grew by 2.7%, while heating degree days increased by 18%, but margin benefits were limited due to declining block pricing [6][28] - The company reaffirmed its 2025 adjusted EPS guidance range of $3.92 to $4.12 per share, with a midpoint of $4.02 per share [7][37] Business Line Data and Key Metrics Changes - The recovery of regulated investments contributed $0.13 to EPS, while higher depreciation and interest expenses reduced EPS by $0.10 [28] - Total demand grew by 2.7%, but weather-normalized demand decreased by 3% due to a large industrial customer outage [29][30] Market Data and Key Metrics Changes - The company has a robust customer pipeline, with a backlog of growth opportunities expanding to 12.2 gigawatts [13] - The company anticipates significant demand growth from large customers like Meta and Panasonic, contributing approximately 500 megawatts by 2029 [36] Company Strategy and Development Direction - The company aims for long-term earnings growth of 4% to 6% through 2029, supported by strong demand from new customers and regulatory frameworks [7][37] - The integrated resource plan reflects an all-of-the-above strategy for new generation development, adding approximately 2.1 gigawatts of new generation from 2025 through 2035 [17][18] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the midpoint of EPS targets despite a slower start to the year, citing strong operational performance and cost management [31][37] - The company remains committed to investing in infrastructure to support growth while ensuring reliability and affordability for customers [24][25] Other Important Information - Recent legislative outcomes in Kansas and Missouri are expected to enhance regulatory frameworks and support infrastructure investment [10][11] - The company is in advanced discussions with customers representing approximately three gigawatts of load, indicating significant interest in the region [15] Q&A Session Summary Question: Clarification on quarterly performance and expectations - Management clarified that the first quarter came in 5 cents below expectations before mitigating actions, with a base outlook for the full year at $3.97 [41][43] Question: Timing of large load contracts - Management indicated that the timing for the 1.3 gigawatts of load is likely linked to finalizing large load power service tariff proceedings, expected to conclude by year-end [45][47] Question: Impact of sales growth on equity - Management noted that increased load growth could significantly reduce equity needs, potentially saving hundreds of millions of dollars over the five-year period [55] Question: Coal plant retirement rationale - Management discussed the rationale for extending coal plant retirement timelines, emphasizing the age and maintenance needs of older units [75][77] Question: Operational and maintenance levers - Management highlighted the ability to manage operational and maintenance costs to meet guidance, ensuring reliability while maintaining flexibility [79][82] Question: Large load tariff discussions - Management confirmed the importance of constructive outcomes in tariff discussions for attracting large customers and spreading fixed costs [87][91]

Financial Data and Key Metrics Changes - The company reported first quarter 2025 earnings of $1.07 per share, an increase from adjusted earnings of $1.02 per share in the first quarter of 2024 [6][21] - The expected diluted earnings per share for 2025 is projected to be in the range of $4.85 to $5.05 [7][26] Business Line Data and Key Metrics Changes - Infrastructure investments continue to strengthen the energy grid and provide more energy resources, driving earnings growth across the company [21] - The economic outlook for service territories remains strong, with a 3% increase in total weather-normalized retail sales over the trailing twelve months ended in March [22] Market Data and Key Metrics Changes - The Missouri Public Service Commission approved a $355 million annual revenue increase, marking the fifth consecutive settlement of electric revenue requirements in the state [24] - The company expects approximately 5.5% compound annual sales growth in Missouri from 2025 through 2029, primarily driven by increasing data center demand [13] Company Strategy and Development Direction - The company remains committed to its strategic plan, focusing on delivering reliable, affordable energy while making prudent investments in energy infrastructure [5][6] - A robust pipeline of investment opportunities exceeding $63 billion is anticipated to strengthen the energy grid and support economic growth [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2025 guidance range and expects to deliver at the midpoint or higher [26] - The company is optimistic about the legislative environment in Missouri, which supports significant investments in utility infrastructure [10] Other Important Information - The company has successfully prevented over 114,000 customer outages through smart technology investments, equating to more than 30 million outage minutes avoided [11] - The company plans to file for approval of a proposed rate structure for large load customers in the second quarter [15] Q&A Session Summary Question: Clarification on the 2.3 gigawatts referenced - Management clarified that the incremental change is from 1.8 to 2.3 gigawatts, with an additional 500 megawatts signed under construction agreements related to data centers [39] Question: Need for new generation due to load growth - Management expressed confidence that the current generation plans would be adequate to serve the 2.3 gigawatts of load growth anticipated [44] Question: Impact of potential changes to tax credits - Management highlighted the importance of maintaining tax credits for building generation resources affordably, emphasizing that these credits are crucial for customer rates [48] Question: Exposure to tariffs in the capital plan - Management estimated that about 2% of the overall capital plan could be exposed to tariffs, primarily related to battery projects, but noted that this is manageable [86][87] Question: Cost estimate for the Castle Bluff plant - Management confirmed that the cost estimate for the Castle Bluff 800 megawatt plant remains at $900 million [92] Question: EPS growth expectations - Management affirmed expectations for EPS growth to be at or above the midpoint of the 6% to 8% CAGR range for 2025 to 2029 [100]

Financial Data and Key Metrics Changes - The company reported first quarter 2025 earnings of $1.07 per share, an increase from adjusted earnings of $1.02 per share in the first quarter of 2024 [6][20] - The expected diluted earnings per share for 2025 is projected to be in the range of $4.85 to $5.05 [7][25] Business Line Data and Key Metrics Changes - Infrastructure investments continue to strengthen the energy grid and provide more energy resources, driving earnings growth across the company [20] - The economic outlook for service territories remains strong, with a 3% increase in total weather-normalized retail sales over the trailing twelve months ended in March [21] Market Data and Key Metrics Changes - The Missouri Public Service Commission approved a $355 million annual revenue increase, marking the fifth consecutive settlement of electric revenue requirements in the state [22] - The company expects approximately 5.5% compound annual sales growth in Missouri from 2025 through 2029, driven by increasing data center demand [12] Company Strategy and Development Direction - The company remains committed to its strategic plan, focusing on reliable and affordable energy while investing in energy infrastructure [5][6] - The company is pursuing significant investments in dispatchable natural gas, renewable generation resources, and battery storage to ensure reliable service over the next decade [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute investment plans and strategies across all business segments, expecting strong long-term earnings and dividend growth [19][34] - The company is optimistic about the prospects for growth in Missouri, supported by recent legislative developments that favor utility infrastructure investment [9][11] Other Important Information - The company has a robust pipeline of investment opportunities exceeding $63 billion, aimed at enhancing the energy grid and supporting economic growth [18] - The company plans to issue approximately $600 million of common equity in 2025 to support its capital needs [28] Q&A Session Summary Question: Clarification on the $350 million referenced - Management clarified that the incremental change is from 1.8 to 2.3 gigawatts, with an additional 500 megawatts under construction agreements related to data centers [39][40] Question: Need for new generation due to load growth - Management indicated that the 2.3 gigawatts of data center load growth provides greater confidence in sales growth estimates and aligns with their resource plan [43][44] Question: Impact of potential changes to tax credits - Management discussed the importance of maintaining tax credits and transferability for affordability and energy reliability, expressing optimism about legislative outcomes [49][50] Question: Exposure to tariffs in capital plans - Management estimated that about 2% of the overall capital plan could be exposed to tariffs, primarily related to battery projects, but noted that this is manageable [84][86] Question: Cost estimate for the Castle Bluff plant - Management confirmed the cost estimate for the Castle Bluff 800 megawatt plant is approximately $900 million [91] Question: EPS growth expectations - Management affirmed expectations for EPS growth to be at or above the midpoint of the 6% to 8% CAGR range for 2025 to 2029, driven by load growth and strategic investments [100][101]

Financial Data and Key Metrics Changes - Enel Chile reported a net income of $175 million for Q1 2025, reflecting an 11% increase compared to the previous year [22] - The company's EBITDA for the quarter reached $365 million, showing a positive variation driven by improved energy distribution receivables [24] - The gross debt increased by 2% to $4 billion, with an average cost of debt remaining competitive at 4.9% [25][26] Business Line Data and Key Metrics Changes - Net electricity generation totaled 5.6 terawatt hours, an 8% decrease compared to 2024, primarily due to lower hydro and renewable generation [11] - Energy sales amounted to 7.7 terawatt hours, marking a 9% reduction from the previous year, attributed to lower sales to regulated customers [12] - The company achieved a total net installed capacity of 8.9 gigawatts, with 28% from renewable energy sources and battery energy storage systems [10] Market Data and Key Metrics Changes - The regulatory framework is undergoing significant updates, with expectations for changes in electricity subsidies and ancillary services [13][14] - The VAD 2020-2024 decree was published in April 2025, enabling recovery of outstanding balances from the tariff cycle [16][17] Company Strategy and Development Direction - Enel Chile is focused on strengthening grid infrastructure through a resilience program in response to increasing climate risks [8] - The company aims to modernize the regulatory framework to enhance asset rate resilience and promote innovation and efficiency [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strategic objectives despite a challenging environment, emphasizing the importance of a diversified business model [27] - The company remains committed to advocating for comprehensive distribution reform and modernization of the regulatory framework [27] Other Important Information - The final dividend for the 2024 fiscal year was approved at approximately 4.24 Chilean pesos per share [10] - The company is in a comfortable liquidity position with $640 million in committed lines and $460 million in cash equivalents [26] Q&A Session Summary Question: Additional details on the resilience program for distribution - Management confirmed that the resilience program includes investments in grid quality and digitalization, with increased CapEx compared to the previous year [34][35] Question: CapEx guidance for 2025 - The company maintains the $800 million CapEx guidance for 2025, with most investments expected in the second half of the year [40][41] Question: Impact of new regulatory changes - Management indicated it is too early to assess the financial impact of new regulatory changes, but they expect some benefits from improved rules for ancillary services [45][46] Question: Hydrology expectations for 2025 - The target of 10.7 terawatt hours for hydrology in 2025 remains valid, with further clarity expected by mid-year [56][57] Question: Economic impact of the resilient program - The CapEx for the resilience program is included in the last industrial plan, but estimating its impact on EBITDA is challenging at this stage [66] Question: Gas supply contracts with Argentina - Enel Chile's current gas contracts with Argentina include take-or-pay clauses, ensuring no issues are expected for the remainder of the year [71] Question: Expired regulated contracts - The expired regulated contracts were related to a tender process from 2013, which had prices indexed to commodities [79]

Financial Data and Key Metrics Changes - The firm reported net income of $14 billion, EPS of $4.81, and revenue of $43.7 billion, which is an increase of $3.8 billion or 10% year-on-year [5][6] - The ROTCE was reported at 21% [5] - Expenses decreased to $22.8 billion, down $1.7 billion or 7% year-on-year [7][8] - Credit costs were $2.6 billion, reflecting net charge-offs of $2.4 billion [8][20] Business Line Data and Key Metrics Changes - Consumer and Community Banking (CCB) reported net income of $4.5 billion on revenue of $18.4 billion, up 1% year-on-year [11] - Commercial and Investment Bank (CIB) reported net income of $6.6 billion on revenue of $17.6 billion, with advisory fees up 41% and underwriting fees significantly increased [15][16] - Asset and Wealth Management (AWM) reported net income of $1.5 billion with revenue of $5.8 billion, up 13% year-on-year [22][23] Market Data and Key Metrics Changes - Average client deposits increased by 9% year-on-year and 5% sequentially [20] - Total revenue from markets was $7 billion, up 21% year-on-year, with fixed income up 20% and equities up 22% [17][18] - Long-term net inflows in AWM were $76 billion for the quarter, with AUM of $4 trillion, up 18% year-on-year [23] Company Strategy and Development Direction - The company aims to maintain a strong capital base while looking for better deployment opportunities [46][47] - There is a focus on expanding the consumer banking business globally, leveraging digital strengths [116][117] - The firm is committed to improving efficiency through technology and maintaining a flat headcount while supporting growth [59][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strength of the franchise despite uncertainties in the economic environment [33][34] - There is a cautious outlook on loan growth due to a combination of strong capital markets and corporate balance sheets [86][87] - The company anticipates a modest compression in deposit margins due to lower rates [27] Other Important Information - The CET1 ratio was reported at 15.7%, up 40 basis points from the prior quarter [10] - The firm plans to return excess capital through buybacks unless better deployment opportunities arise [47][100] - Management is closely monitoring the impact of regulatory changes and the economic environment on capital requirements [78][79] Q&A Session Summary Question: Capital deployment strategy - Management is comfortable maintaining a capital buffer and is focused on returning excess capital through buybacks if no immediate deployment opportunities arise [46][47] Question: Investment spending agenda - The investment themes remain consistent, focusing on high-certainty investments and efficiency improvements across all business lines [50][51] Question: CEO succession - Management confirmed that there are several exceptional candidates for succession, but no decision has been made yet [69][70] Question: Regulatory changes impact - Management emphasized the need for a coherent regulatory framework that supports economic growth while ensuring a safe banking system [78][81] Question: Loan growth outlook - Despite improved business sentiment, loan growth has not picked up significantly, attributed to strong capital markets and cautious corporate behavior [86][87] Question: Areas of vulnerability - Management identified unemployment as a key driver of credit quality and potential vulnerabilities, particularly in a stagflation scenario [141][142]

Financial Data and Key Metrics Changes - For the full year 2024, Evergy reported adjusted earnings of $878 million or $3.81 per share, compared to $816 million or $3.54 per share for the same period last year, reflecting a year-over-year increase in adjusted EPS driven by strong cost management and load growth [49][50][66] - The adjusted EPS growth was impacted by a 5% decrease in cooling degree days and a 4% decrease in heating degree days, leading to a $0.13 decline in EPS versus 2023 [50] - The company reaffirmed its 2025 adjusted EPS guidance range of $3.92 to $4.12 per share, with a midpoint of $4.02, representing a 5% increase over the 2024 guidance midpoint [15][66] Business Line Data and Key Metrics Changes - Retail sales trends showed a weather-normalized increase of 1.1% in 2024, driven by strong growth in both residential and commercial usage [52][53] - The company anticipates a 2.4% growth in load demand for 2025, with significant contributions expected from new large customers such as Meta and Panasonic [53][55] Market Data and Key Metrics Changes - The economic development pipeline in Kansas and Missouri has grown from approximately 6 gigawatts to over 11 gigawatts, reflecting robust demand from large customers [18][19] - The projected peak summer demand for 2025 is approximately 10.6 gigawatts, indicating a strong backlog of growth opportunities [19] Company Strategy and Development Direction - Evergy's strategic objectives focus on affordability, reliability, and sustainability, with a five-year capital investment plan totaling $17.5 billion aimed at modernizing infrastructure and supporting economic growth [9][28][45] - The company is actively pursuing regulatory and legislative initiatives to support infrastructure investment and mitigate regulatory lag, particularly in Kansas and Missouri [11][33][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges posed by weather and operational costs, reaffirming a long-term growth target of 4% to 6% through 2029 [15][66] - The management highlighted the importance of a competitive regulatory framework and successful execution of capital plans to support economic development in the region [11][12][45] Other Important Information - The company raised its dividend by 4% to an annualized $2.67, consistent with its target payout ratio [15] - Evergy's capital investment plan is expected to result in 8.5% annualized rate base growth through 2029, an increase from the prior forecast of approximately 8% [28][67] Q&A Session Summary Question: Timeline for finalizing agreements related to 1.6 gigawatts - Management indicated that discussions are advancing well and expects announcements later this year, with agreements finalized over the course of the year [72][76][78] Question: Next steps for capital structure in Kansas - Management characterized the proceeding as procedural and expressed a desire to seek a constructive settlement, similar to previous cases [79][82] Question: Timeline for developing associated generation - Management confirmed that they have a good plan to serve customers from both transmission and generation perspectives, with updates expected in the upcoming IRP filings [89][91][100] Question: Protections for existing customers in large load tariff - Management is seeking a well-balanced tariff that covers incremental costs while providing protections for existing customers, including minimum bills and contract periods [107][111] Question: Timeline for SB4 in Missouri - Management expressed confidence in the bill's passage, highlighting its transformative potential for the regulatory framework in Missouri [120][124] Question: Matching load with generation projects - Management provided clarity on the load forecast, indicating that they expect to have the necessary transmission and generation capacity to serve the anticipated load growth [126][130]