Financial Performance - Q4 2025 sales increased by 5.5% year-over-year, reaching $1.225 billion compared to $1.161 billion in Q4 2024[8] - Organic daily sales saw a positive year-over-year growth of 0.2% for the first time in over a year[8] - Earnings per share (EPS) increased by 5.9% year-over-year, from $2.64 in Q4 2024 to $2.80 in Q4 2025[8] - EBITDA decreased slightly by 0.3% year-over-year, from $153.5 million in Q4 2024 to $153.0 million in Q4 2025[8] - Free cash flow for fiscal year 2025 was $465.2 million, up 34% year-over-year[33] Segment Performance - Engineered Solutions (ES) segment sales increased by 20.7% year-over-year in Q4 2025, with organic growth of 1.8%[31] - Service Center segment sales decreased by 1.5% year-over-year in Q4 2025[23] Fiscal Year 2026 Guidance - Total sales are projected to increase by 4% to 7% year-over-year[46] - Organic sales are expected to grow by 1% to 4% year-over-year[46] - EBITDA margin is guided to be between 12.2% and 12.5%[46] - Diluted EPS is projected to be in the range of $10.00 to $10.75[46]

Financial Data and Key Metrics Changes - PSEG reported net income of $1.17 per share for Q2 2025, compared to $0.87 per share in Q2 2024, reflecting a significant increase [17] - Non-GAAP operating earnings were $0.77 per share in Q2 2025, up from $0.63 per share in Q2 2024, marking over a 20% increase year-over-year [17][18] - For the year-to-date ending June 30, 2025, net income was $878 million, compared to $790 million in 2024 [18] Business Line Data and Key Metrics Changes - PSEG's utility segment reported net income and non-GAAP operating earnings of $332 million for Q2 2025, compared to $300 million in Q2 2024 [18] - PSEG Power and Other reported net income of $253 million in Q2 2025, up from $132 million in Q2 2024, with non-GAAP operating earnings increasing to $52 million from $11 million [22][23] - The nuclear fleet produced approximately 7.5 terawatt hours in Q2 2025, an increase of 0.5 terawatt hours compared to the same period in 2024 [23] Market Data and Key Metrics Changes - The temperature humidity index was 21% warmer than normal but 14% cooler than in 2024, impacting electricity demand [21] - PSEG's pipeline of large load inquiries for new service connections grew to over 9,400 megawatts, up 47% from 6,400 megawatts reported as of March 31 [12] Company Strategy and Development Direction - PSEG is focused on a $3.8 billion regulated capital investment program for 2025 aimed at infrastructure modernization and reliability [6][11] - The company is also pursuing a five-year capital spending plan of $21 billion to $24 billion through 2029, supporting a projected rate base CAGR of 6% to 7.5% [15][16] - PSEG is advocating for legislative decisions in New Jersey regarding energy affordability and resource adequacy, emphasizing the need for new generation capacity [33][41] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of balancing reliability, affordability, and environmental policies in ongoing discussions with New Jersey legislators [33][41] - The company anticipates a near-flat impact on customer electric bills despite recent capacity price increases, due to other supply-related costs expected to decrease [9][10] - PSEG reiterated its full-year 2025 non-GAAP operating earnings guidance of $3.94 to $4.06 per share, reflecting a 9% increase at the midpoint over 2024 results [15][26] Other Important Information - PSEG's total available liquidity as of June 30 was $3.6 billion, including $186 million in cash [25] - Recent federal tax legislation preserved the nuclear production tax credit and extended 100% bonus depreciation for qualified business property, improving cash flow [26] Q&A Session Summary Question: Update on New Jersey Resource Adequacy Conference - Management indicated ongoing discussions regarding future generation build in New Jersey, emphasizing the need for state decisions on reliability and affordability targets [31][33] Question: Data Center Pipeline and Nuclear Plant Opportunities - Management noted a significant increase in data center inquiries, with ongoing discussions about nuclear plant opportunities across New Jersey and Pennsylvania [34][36] Question: New Generation Needs in New Jersey - Management acknowledged the need for new generation capacity in New Jersey, emphasizing the state's reliance on power imports [41][43] Question: Impact of Capacity Auction Results - Management confirmed that while capacity auction results are important, they maintain their guidance based on the nuclear production tax credit threshold [45][46] Question: Affordability-Focused Bills - Management stated that while several affordability-focused bills were discussed, no specific bill is currently prioritized as the legislature is not scheduled to reconvene soon [62][63] Question: Incremental Generation Potential from Nuclear Upgrades - Management confirmed that engineering work for nuclear upgrades is ongoing, with plans for a 24-month fuel cycle at Hope Creek [66] Question: Large Load Inquiries Conversion Rate - Management confirmed that the conversion rate for large load inquiries remains at 10% to 20%, primarily driven by data center projects [73]

Financial Data and Key Metrics Changes - In Q3 2025, the company reported an EPS of $0.06 per share compared to a net financial loss of $0.09 per share in the previous year [22] - Year-to-date NFE is $313.4 million or $3.13 per share, an increase of nearly 55% year-over-year [22] - The company raised the lower end of its fiscal 2025 NFEPS guidance range by $0.05 to $3.2 to $3.3 per share, reflecting strong operating performance [8][27] Business Line Data and Key Metrics Changes - New Jersey Natural Gas remains the strongest contributor to NFEPS, benefiting from a recent rate case settlement and customer growth [9] - The Clean Energy Ventures (CED) is expected to contribute over 20% of NFEPS this year, driven by high-performing operating assets and the monetization of the residential solar portfolio [9] - Approximately 65% of full-year NFEPS is expected to come from utility operations, rising to over 70% when excluding the CEV gain related to the sale of the residential solar business [10] Market Data and Key Metrics Changes - New Jersey Natural Gas serves approximately 588,000 customers, with over 90% being residential, primarily in economically vibrant counties [10] - The company has invested approximately $383 million in capital projects, with more than 47% earning near real-time returns through mechanisms such as SaveGreen [13] Company Strategy and Development Direction - The company is focused on disciplined execution and consistent performance across all segments, with an emphasis on utility investments and regulatory progress [5] - The SaveGreen program is highlighted as a key investment area, with capital projections raised by over 30% for 2025 [11] - The company aims to enhance utility infrastructure, expand clean energy investments, and optimize storage and transportation capabilities [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate changing environments and allocate capital effectively to meet customer needs [27] - The company anticipates continued growth in the natural gas sector, supported by strong demand and infrastructure investments [36] - Management remains optimistic about reaching a resolution in the Adelphia Gateway rate case by the end of the year [7][19] Other Important Information - The company has a strong balance sheet with projected cash flow from operations between $460 million and $500 million for fiscal 2025 [25] - The company maintains $825 million of credit capacity across its credit facilities, providing flexibility to fund its capital plan [26] Q&A Session Summary Question: What would be the year-over-year impact of the Adelphia rate case settlement in 2026? - Management indicated that details are still under negotiation and have not been made public yet [34] Question: How have the 131 megawatt target for CEV changed relative to initial expectations? - Management stated that the 131 megawatts is what is currently under construction, with high confidence in the projections shared [35] Question: What is the timeline for the Leaf River expansion decision? - Management expects to narrow down the expansion details in the coming months, with a binding open season currently taking place [42] Question: Can you break out the utility gross margin for the quarter? - Management noted that the gross margin benefits from the new rate case and progress on operational efficiency [46] Question: What is driving the stronger demand for the SaveGreen program? - Management highlighted strong market demand for efficient HVAC systems and successful execution of the program [64] Question: Is there interest in growth projects for gas infrastructure in the Northeast? - Management confirmed ongoing investments in reliability and expanding the system to meet customer growth [67]

Core Insights - PSE&G's energy efficiency programs are significantly benefiting New Jersey customers by saving money and energy, with nearly 465,000 participants saving over $720 million annually on utility bills [1][2][5] - The programs include home energy assessments, rebates for energy-efficient appliances, and support for businesses, leading to substantial energy savings and operational cost reductions [2][3][4] Customer Participation and Savings - Approximately 740 million dollars in rebates have been provided to customers, facilitating energy-saving upgrades [2] - More than 18,500 businesses have implemented around 28,000 projects to enhance operational efficiency and comfort [3] - The Small Business Direct Install program is projected to save over 19 million dollars annually for more than 1,500 small businesses [4] Energy and Environmental Impact - Residential and business customers are expected to save about 2.8 million megawatt-hours of electricity annually, enough to power over 406,000 homes [5] - Natural gas savings are anticipated to exceed 75 million therms per year, contributing to a reduction of approximately 2.1 million metric tons of carbon emissions annually [5] Workforce Development - The Clean Energy Jobs Program has placed over 4,100 individuals in clean energy roles, enhancing the skilled workforce in New Jersey [6] Program Recognition and Awards - PSE&G's energy efficiency programs have received 75 industry awards for excellence in program delivery, workforce development, and marketing [6] Affordability and Future Outlook - PSE&G emphasizes affordability as a priority, recognizing the challenges customers face in managing energy costs [7] - The company is prepared to collaborate with the state to address electricity supply challenges and expand reliable energy sources [9]

पण मित्रांनो जर आपली वसुंधरा माता टिकली तर तुम्ही ह्या गोष्टी देऊ शकणार आहे तुम्हाला आणि ती टिकवण्यासाठी आपल्याला लागणारे ऑक्सिजन मी तरी माझ्या पुढच्या पिढीला ऑक्सिजन देणार आहे दुसरं काही देणार नाहीये ही पहिली माझी आऊट ऑफ द सिलॅबस गोष्ट आहे की मला एक मी पासबुक तयार केलेल आहे इट्स ट्री पासबुक आणि या ट्री पासबुक मध्ये या सगळ्या गोष्टी ऍड करत जाऊन किती झाड लावली प्रत्येक झाड किती 1डश की अडीश 300 किलो वर्षाला ऑक्सिजन देता हे सगळं ऑक्सिजन टोटल करून आपल्याला माणसाला साधारण 1940 ते 1980 2000 किलो ऑक्सिजन प्रत्येक ...

Financial Data and Key Metrics Changes - Exelon reported operating earnings of $0.39 per share in Q2 2025, down from $0.47 per share in the same period in 2024, reflecting a decrease of 8 cents per share [15] - The company remains on track to meet its full-year operating earnings guidance of $2.64 to $2.74 per share [6][17] - Year-to-date performance indicates strong financial results despite significant storm activity and customer relief efforts [16] Business Line Data and Key Metrics Changes - The decrease in earnings was primarily driven by higher distribution and transmission rates, offset by timing issues at ComEd and increased storm costs at PECO [15][16] - The company has a robust pipeline for large load, holding firm at over 17 gigawatts, with an additional 16 gigawatts expected to formalize by year-end [13] Market Data and Key Metrics Changes - The Illinois legislative session did not pass an energy omnibus bill, but discussions continue regarding energy efficiency, transmission, and resource planning [10] - The capacity auction results indicate that demand growth is outpacing new generation entry, highlighting the need for proactive state involvement in energy supply [11] Company Strategy and Development Direction - Exelon is focused on investing $38 billion through 2028, with an additional $10 billion to $15 billion in identified transmission work beyond that [14] - The company aims to grow earnings at an annualized rate of 5% to 7% through 2028, supported by a balanced capital strategy [14][21] - Exelon emphasizes the importance of state involvement in energy supply solutions, advocating for utility-owned generation to enhance reliability and affordability [26][59] Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for certainty and control from states regarding energy supply, especially in light of rising costs and supply volatility [11][35] - The company is optimistic about future legislative actions that could enhance energy efficiency and reliability [10][12] - Management remains committed to delivering consistent growth and long-term value for communities and shareholders [27] Other Important Information - Exelon has successfully completed nearly 80% of its planned long-term debt financing needs for 2025, indicating strong investor confidence [20] - The company is actively pursuing regulatory approvals for various rate cases across its jurisdictions, with significant updates expected in the coming months [18][19] Q&A Session Summary Question: Which jurisdiction is most ripe for further action on utility-owned generation or energy efficiency? - Management indicated that Maryland has a definitive request for 3,000 MW of power, which will be evaluated by October, potentially triggering further action [37] Question: When could the $10 billion to $15 billion transmission opportunity move into the base plan? - Management stated that clarity on this would typically come in Q4, aligning with ongoing cluster studies and regulatory filings [44] Question: Is there a unique opportunity for ComEd related to quantum computing? - Management confirmed that the establishment of a quantum computing campus in Illinois has already attracted interest from other companies, indicating potential growth opportunities [50][51] Question: What are the thoughts on building regulated generation? - Management expressed a willingness to consider regulated generation as part of a portfolio approach, emphasizing the need for certainty and customer benefits [57][60] Question: How are data center discussions progressing? - Management noted significant activity in Illinois and other jurisdictions, with expectations for announcements following cluster studies in the third and fourth quarters [63][65] Question: What is the anticipated impact of capacity auction results on customer bills? - Management indicated that BGE customers could see a bill impact of approximately $1.50, with efforts ongoing to mitigate these increases [72][73]

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Financial Data and Key Metrics Changes - Q2 2025 marked record bookings and revenues, with an 18% growth in adjusted EPS and a 90 basis point expansion in adjusted operating margins [8][11] - The backlog increased to $7.1 billion, up 6% compared to year-end 2024, despite a sequential decline of approximately $125 million due to expected reductions in shorter cycle businesses [9][11] - Organic revenues increased by 7%, with adjusted EBITDA margins expanding by 70 basis points [18] Business Line Data and Key Metrics Changes - Americas commercial HVAC organic bookings reached all-time highs, with a 20% increase in Q2, while applied solutions orders surged over 60% [8][12] - The services business represented one-third of enterprise revenues, delivering low teens growth, maintaining a low teens compound annual growth rate since 2020 [10][18] - Residential HVAC revenues fell mid-single digits due to a shortage of refrigerant cylinders, but year-to-date revenues were up 3% [14][56] Market Data and Key Metrics Changes - In EMEA, commercial HVAC bookings were down low single digits against a tough prior year growth comp of 20%, but two-year stack bookings were strong, up high teens [15] - In Asia Pacific, revenue declined by high single digits, primarily due to lower volumes in China, but the region is expected to meet full-year 2025 expectations for flat revenues [20][70] Company Strategy and Development Direction - The company is focused on a purpose-driven strategy addressing energy waste in buildings, aiming for sustainable solutions and long-term shareholder value [6][7] - Strategic investments in channel and M&A integrations are being made to support growth, despite impacting margins in the short term [19] - The company anticipates a strong rebound in the Americas transport refrigeration markets for 2026 and 2027, projecting over 20% growth each year [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in raising full-year revenue and EPS guidance, citing strong performance in the Americas commercial HVAC business [11][22] - Temporary headwinds in residential HVAC are expected to improve in Q3, with a forecasted revenue impact of approximately $150 million for the second half [20][21] - The company remains committed to a balanced capital allocation strategy, targeting organic leverage of 25% or higher for the year [24][26] Other Important Information - The company has deployed approximately $1.5 billion through its capital allocation strategy year-to-date, including $900 million for share repurchases [27] - The M&A pipeline remains active, with a disciplined approach to enhance long-term returns [27] Q&A Session Summary Question: What is driving the acceleration in commercial HVAC orders? - Management noted broad-based growth across various verticals, including healthcare, government, and data centers, with applied solutions leading the charge [32][34] Question: What is the outlook for service revenue growth? - Management indicated that service revenue growth is expected to continue, driven by applied solutions and connected services, with a compounding effect from past equipment sales [41][45] Question: How is the company addressing the residential HVAC cylinder shortage? - Management confirmed that the issue is largely resolved, with expectations for inventory normalization and a return to GDP-plus growth in the long term [56][58] Question: What are the expectations for the second half of the year regarding organic sales growth? - Guidance for Q3 is approximately 6% organic revenue growth, with expectations for low double digits in commercial HVAC [50][52] Question: How does the company view pricing and demand in the residential market? - Management believes the residential market will return to a GDP-plus growth trajectory, emphasizing that current challenges are temporary and not indicative of structural issues [107][108]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $25.5 million for Q2 2025, down from $41.8 million in Q2 2024, indicating a significant decline in profitability [17] - Adjusted earnings per share for Q2 2025 was $0.01, compared to $0.17 in the same period of 2024 [18] - Daily vessel operating expenses increased by 6% to $6,607 in Q2 2025, up from $6,254 in Q2 2024 [19] Business Line Data and Key Metrics Changes - The average time charter equivalent for vessels decreased to $14,857 in Q2 2025 from $18,650 in Q2 2024 [19] - The company operated an average of 46.75 vessels in Q2 2025, compared to 45.43 vessels in the same period of 2024 [19] Market Data and Key Metrics Changes - The drybulk fleet is projected to grow by about 2.8% on average in 2025 and 2026 due to stable new deliveries [6] - The global drybulk demand is forecasted to range from -0.5% to +0.5% in 2025, with growth expected to be between 1.5% to 2.5% in 2026 [11] - The increase in import tariffs led to a 57% year-on-year drop in U.S. grain volumes to China, affecting trade dynamics [12] Company Strategy and Development Direction - The company remains focused on fleet renewal, strong liquidity, and long-term value creation [5] - The company has declared a dividend of $0.05 per share, maintaining a consistent return to shareholders [6][14] - The company is positioning itself favorably with six new Phase three vessels on order, including two dual fuel vessels [9] Management Comments on Operating Environment and Future Outlook - Management noted a softer market in 2025, impacting revenues and profitability, but expressed confidence in fleet renewal and capital allocation strategies [5] - The global GDP growth expectations for 2025 and 2026 are projected at about 3%, which may positively influence the drybulk market [11] - Management highlighted the importance of decarbonization and energy-efficient new builds in the evolving market landscape [11] Other Important Information - The company maintains a strong liquidity position with $315 million in capital resources and a leverage ratio of 38% [14] - The company achieved zero vessels in D and E carbon intensity ratings for 2024, reflecting its commitment to sustainability [14][16] Q&A Session Summary - The Q&A session did not contain specific questions or answers, as the management concluded the presentation without engaging in a detailed Q&A segment [21][23]

Group 1 - Legend Power Systems Inc. has received consent from the TSX Venture Exchange to extend the expiry date of 12,861,553 common share purchase warrants from July 31, 2025, and August 22, 2025, to July 31, 2026, and August 22, 2026, respectively [1] - The warrants have an exercise price of $0.25, which indicates the potential for future capital raising opportunities for the company [1] Group 2 - Legend Power Systems Inc. provides an intelligent energy management platform that significantly impacts asset management and corporate performance by analyzing and improving building energy challenges [2] - The company's solutions support proactive executive decision-making in a complex business and energy environment, reducing total energy consumption and power costs while maximizing the life of electrical equipment [2] - Legend Power's solutions contribute to corporate sustainability efforts and help meet utility energy efficiency targets [2] Group 3 - SmartGATE is a turnkey solution offered by Legend Power that identifies and resolves inefficiencies in commercial electrical systems, enhancing energy performance while reducing costs and emissions [3] - The SmartGATE system provides full voltage regulation (+/- 8%) tailored to specific requirements, focusing on reducing energy consumption and optimizing power performance [3]