For the quarter ended June 2025, PSEG (PEG) reported revenue of $2.81 billion, up 15.8% over the same period last year. EPS came in at $0.77, compared to $0.63 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $2.34 billion, representing a surprise of +19.62%. The company delivered an EPS surprise of +8.45%, with the consensus EPS estimate being $0.71. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...

Core Viewpoint - NiSource (NI) is set to release its second-quarter 2025 results on August 6, with an earnings surprise of 8.9% in the previous quarter [1] Factors Impacting Q2 Performance - The second-quarter earnings are expected to benefit from new electric and gas rates effective in the company's service regions [2][8] - The completion of the Dunns Bridge II solar and storage project by Northern Indiana Public Service Company LLC (NIPSCO) is anticipated to positively impact performance [2][8] - Increased investments in infrastructure enhancement and capital programs, along with flat operation and maintenance expenses, are expected to support the bottom line [3][8] - However, higher depreciation and amortization expenses may offset some of these positive factors [3] Q2 Expectations - The Zacks Consensus Estimate for earnings is 21 cents per share, indicating no change from the previous year [4] - The Zacks Consensus Estimate for revenues is $1.15 billion, reflecting a 6.1% increase from the year-ago figure [4] Earnings Prediction Model - The current model does not predict an earnings beat for NiSource, with an Earnings ESP of 0.00% [5] - NiSource holds a Zacks Rank of 2 (Buy) [6] Comparable Stocks - Spire (SR) is expected to report an earnings beat with an Earnings ESP of +14.81% and a Zacks Rank 3 [7] - ONE Gas (OGS) is also likely to report an earnings beat with an Earnings ESP of +3.22% and a Zacks Rank 2 [9] - MDU Resources Group (MDU) is predicted to have an earnings beat with an Earnings ESP of +20% and a Zacks Rank 2 [10]

Core Insights - Ameren reported strong second-quarter 2025 results, with GAAP revenue of $2,221 million, exceeding analyst estimates by 24.7% and GAAP EPS of $1.01, beating consensus by 2.0% [1][2] - The growth was driven by new electric rates in Missouri and continued capital investments, despite challenges such as rising interest expenses and a dip in retail electric sales due to normal weather patterns [1][5] Financial Performance - GAAP EPS increased by 4.1% year-over-year from $0.97 in Q2 2024 to $1.01 in Q2 2025 [2] - GAAP revenue rose by 31.2% year-over-year from $1,693 million in Q2 2024 to $2,221 million in Q2 2025 [2] - Operating income reached $411 million, up 13.8% from $361 million in Q2 2024 [2] - Net income attributable to common shareholders was $275 million, a 6.6% increase from $258 million in Q2 2024 [2] Business Overview - Ameren is a regulated utility based in St. Louis, providing electric and natural gas services primarily in Missouri and Illinois [3] - The company focuses on operating the electric grid, generating electricity, distributing natural gas, and investing in infrastructure to meet customer and regulatory demands [3] Strategic Focus - Recent strategic initiatives include regulatory strategy, energy transition, supply chain management, and talent development [4] - The long-term growth plan emphasizes renewable energy, natural gas generation expansion, and network upgrades for reliability [4] Revenue Drivers and Segment Results - New service rates in Missouri, effective June 1, 2025, significantly boosted revenue, contributing to a $439.82 million revenue beat [5] - Ameren Missouri recorded $150 million in GAAP profits, up from $128 million in Q2 2024, while Ameren Illinois electric distribution earned $64 million, slightly up from $61 million in Q2 2024 [6] Retail Sales and Market Dynamics - Retail electric sales in Missouri decreased by 3.1% year-over-year, with total electric load at 7,211 GWh in Q2 2025 compared to 7,441 GWh in Q2 2024 [7] - Off-system electricity sales fell sharply to 662 GWh in Q2 2025 from 1,484 GWh in Q2 2024 due to fewer wholesale market opportunities [7] Capital Investments and Sustainability - Capital expenditures totaled $2.13 billion in the first half of 2025, up from $1.89 billion in the first half of 2024 [8] - The company is advancing renewable generation projects and has secured key equipment for new gas-fired plants scheduled for completion in 2027 and 2028 [9] Supply Chain and Workforce Management - Ameren's supply chain operations remained stable, utilizing early procurement strategies to mitigate global trade disruptions [10] - The company reported that grid investments have prevented over 114,000 potential customer outages in 2025 [10] Regulatory Developments and Future Outlook - Management reaffirmed its full-year 2025 guidance for GAAP diluted EPS of $4.85 to $5.05, with expectations leaning towards the upper half of the range [13] - A pipeline of $63 billion in total capital investments is planned over the next decade to support grid resilience and clean generation [13]

Core Insights - Exelon reported Q2 2025 adjusted (non-GAAP) earnings per share of $0.39, exceeding analyst expectations of $0.37, while GAAP revenue reached $5,427 million, indicating a mixed performance across segments and a year-over-year decline in net income [1][5][11] Financial Performance - Adjusted (non-GAAP) EPS fell 17.0% from $0.47 in Q2 2024 to $0.39 in Q2 2025 [2][5] - GAAP revenue for Q2 2025 was $5,427 million, slightly above the consensus estimate [5] - ComEd segment reported adjusted (non-GAAP) operating earnings of $228 million, down 20.0% year-over-year [2][6] - PECO segment saw a 46.2% increase in adjusted (non-GAAP) operating earnings to $136 million [2][6] - BGE segment's adjusted (non-GAAP) earnings rose 22.2% to $55 million [2][6] - PHI segment reported an 11.1% decline in adjusted (non-GAAP) operating earnings to $144 million [2][6] Business Overview and Strategy - Exelon operates through regulated subsidiaries including ComEd, PECO, BGE, and PHI, focusing on electricity and gas distribution [3] - The company is enhancing grid infrastructure and engaging with regulators to support clean energy goals [4] Capital Investment and Infrastructure - Exelon invested $3.96 billion in capital spending in the first half of 2025, part of a $38 billion four-year plan for grid modernization and capacity expansion [8] - Approximately 80% of planned 2025 debt financing has been completed, reducing future financing risks [8] Regulatory Environment - No significant new rate cases were settled in Q2 2025, but ongoing proceedings in New Jersey and Delaware are progressing [9] - The Next Generation Energy Act in Maryland introduces new requirements for utilities regarding cost recovery and grid updates [9] Dividend and Financial Health - The quarterly dividend was maintained at $0.40 per share, with a solid balance sheet showing $27.6 billion in equity and $1.25 billion in cash [10] Future Outlook - Management reaffirmed full-year adjusted (non-GAAP) operating earnings guidance of $2.64 to $2.74 per share, targeting 5–7% annual EPS growth through 2028 [11] - The company anticipates $10 to $15 billion in additional transmission opportunities due to increased grid investment needs [11]

Fortis (FTS) Q2 2025 Earnings Call August 01, 2025 08:30 AM ET Speaker0Thank you for standing by. My name is Chuck, and I'll be your conference operator. Welcome to the Fortis, Inc. Second Quarter twenty twenty five Earnings Conference Call and Webcast. As a reminder, all participants are in a listen only mode and the conference call is being recorded.After the presentation, there will be an opportunity to ask questions. I would now like to turn the conference over to Ms. Stephanie Amaimo, Vice President, I ...

Core Insights - Fortis Inc. reported strong second quarter results for 2025, with net earnings of $384 million or $0.76 per common share, reflecting a $53 million increase from the same period in 2024 [3][8] - The company is executing a disciplined capital plan and regulatory growth strategy, positioning itself well for achieving its objectives for the year [3] Financial Performance - Net earnings for the first half of 2025 reached $883 million, or $1.76 per common share, an increase of $93 million compared to the same period in 2024 [4] - The increase in earnings was driven by rate base growth across utilities, including FortisBC Energy's Eagle Mountain Pipeline project and higher earnings at Central Hudson [3][4] - The weighted average number of common shares outstanding increased, largely due to the dividend reinvestment plan [5] Capital and Growth Updates - Fortis is on track with its $5.2 billion annual capital plan, having invested $2.9 billion in the first half of 2025 [6] - The Roadrunner Reserve 1 battery storage project, with a capacity of 200 MW, was placed in service, facilitating renewable energy integration [6] - Tucson Electric Power (TEP) plans to convert 793 MW of coal-fired generation to natural gas by 2030, which will not materially impact the current five-year capital plan [7] Regulatory Developments - TEP filed a general rate application for new rates effective September 1, 2026, requesting a net increase of US$172 million in retail revenue [13] - Central Hudson filed a joint proposal for a three-year rate plan with a continuation of a 9.5% allowed return on equity [14] Sustainability Efforts - Fortis achieved a 34% reduction in scope 1 greenhouse gas emissions through 2024 compared to 2019 levels [15] - The company aims for a coal-free generation mix by 2032 and a net-zero goal by 2050, although interim GHG reduction targets may take longer to achieve [16] Outlook - Fortis expects its $26.0 billion five-year capital plan to increase the midyear rate base from $39.0 billion in 2024 to $53.0 billion by 2029, with a compound annual growth rate of 6.5% [18] - The company anticipates long-term growth in rate base will drive earnings that support dividend growth guidance of 4-6% annually through 2029 [18]

The company reported $5.90 billion in GAAP revenue, falling below the analyst consensus by about $341 million (GAAP) and declining compared to the same period of the previous year. Non-GAAP core EPS met last year's level but missed estimates by $0.01. Net income (GAAP) increased to $549 million, up 4.8% year-over- year, though both adjusted and unadjusted EPS came in flat relative to the prior year. The electric segment generated $4.41 billion in revenue, down from prior-year levels, while natural gas reven ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $0.38 for Q2 2025, up from $0.33 in Q2 2024, reflecting a year-over-year growth of approximately 15% [15][16] - Year-to-date EPS increased to $2.24 from $2.19 compared to the same period last year, driven by successful regulatory strategies and favorable weather conditions [17][18] - The company reaffirmed its full-year earnings guidance range of $4 to $4.2 per share, indicating a 5% growth rate at the midpoint over 2024 EPS [11][21] Business Line Data and Key Metrics Changes - New margins contributed $0.22 per share, including $0.17 from new rates and rider recovery, which offset higher operating expenses and financing costs [16] - The company experienced a positive weather impact of $0.03 per share compared to Q2 2024, although weather drove $0.04 per share of unfavorability during Q2 2025 [16][17] Market Data and Key Metrics Changes - Wyoming Electric recorded four all-time peak loads in the first half of the year, with the latest peak of 379 megawatts representing a 21% increase over 2024 [9] - The company is witnessing growing demand from data center and blockchain customers, contributing solid earnings growth [9][12] Company Strategy and Development Direction - The company is focused on a $1 billion capital plan to support key projects and regulatory initiatives, aiming for top quartile reliability and above-industry-average safety performance [6][8] - The long-term growth strategy includes a $4.7 billion capital plan, with significant investments in infrastructure to enhance system resiliency and support growing demand [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the upper half of the long-term EPS growth target of 4% to 6% starting in 2026, driven by new rates, customer growth, and data center demand [21][53] - The company is actively engaging with potential data center customers, indicating a robust pipeline of demand that will drive future growth [14][21] Other Important Information - The company has established an emergency public safety power shutoff program to mitigate wildfire risks, reflecting a commitment to customer safety [10][30] - The company maintains a strong balance sheet with a focus on credit quality, targeting a funds from operations (FFO) to debt ratio of 14% to 15% [18][19] Q&A Session Summary Question: What is the outlook for industrial growth, particularly in digital sectors? - Management noted that while significant growth was observed, it is not expected to be strictly linear, with varying ramp rates depending on the type of data center and blockchain load [35][38] Question: Are the new announcements for Wyoming part of the existing pipeline? - Management confirmed that the new announcements are incremental to the existing pipeline and will be included in future load forecasts once agreements are executed [39][40] Question: What is driving the confidence in achieving the upper half of the growth range? - Management highlighted several drivers, including significant capital projects, ongoing customer growth, and the ramp-up of data center loads, which are expected to contribute positively [49][53] Question: Can you provide details on the unplanned outages and their impact? - Management stated that all generation is currently online and operational, and while there were some impacts from outages, they have been mitigated, resulting in an immaterial financial impact [54][56][58]

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $0.38 for Q2 2025, up from $0.33 in Q2 2024, reflecting a year-over-year growth of approximately 15% [14] - Year-to-date EPS increased to $2.24 from $2.19 compared to the same period last year, driven by successful execution of regulatory strategies [16] - The company reaffirmed its full-year earnings guidance range of $4 to $4.2 per share, indicating a 5% growth rate at the midpoint over 2024 EPS [10][20] Business Line Data and Key Metrics Changes - New margins contributed $0.22 per share, including $0.17 from new rates and rider recovery, which offset higher operating expenses and financing costs [15] - The company experienced a positive weather impact of $0.03 per share compared to Q2 2024, although weather drove $0.04 per share of unfavorability during Q2 2025 [15] Market Data and Key Metrics Changes - Wyoming Electric recorded four distinct all-time peak loads during the first half of the year, with the latest peak of 379 megawatts in June representing a 21% increase over the peak recorded in 2024 [7] - The company noted strong customer growth driven by demand from data centers and blockchain customers, contributing solid earnings [6] Company Strategy and Development Direction - The company is focused on delivering financial commitments, executing regulatory and growth initiatives, and providing excellent operational performance [5] - A $1 billion capital plan is in place to support key projects that address the growing needs of customers [5] - The company is on track to achieve its long-term EPS growth target of 4% to 6% starting in 2026, supported by a $4.7 billion capital plan [10][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the upper half of the long-term EPS growth target, driven by new rates, regulatory efforts, and customer growth [20] - The company is actively engaging with potential data center customers, indicating a robust pipeline of demand that will further drive revenue growth [13] Other Important Information - The company has established an emergency public safety power shutoff program to mitigate wildfire risk across its electric utilities [8][30] - The company maintains a strong balance sheet with a focus on sustaining credit quality and liquidity, with over $600 million available under its revolving credit facility [18] Q&A Session Summary Question: Industrial growth for the quarter was 19%. What is the outlook for digital growth? - Management indicated that while significant growth is expected from data centers and blockchain, it may not be strictly linear due to varying ramp rates [35][38] Question: Was the new announcement for Wyoming part of the existing pipeline? - Management confirmed that the new announcement is incremental to the existing pipeline and will be included in future load forecasts once agreements are executed [39][40] Question: What is driving the expectation for upper half growth in the 4% to 6% range? - Management highlighted several drivers, including capital projects, regulatory efforts, and customer growth, particularly from data centers [55] Question: Can you provide details on unplanned outages and their impact? - Management confirmed that all generation is currently online and operational, and the financial impact of unplanned outages is considered immaterial [58][60]

Xcel Energy (XEL) reported $3.29 billion in revenue for the quarter ended June 2025, representing a year-over- year increase of 8.6%. EPS of $0.75 for the same period compares to $0.54 a year ago. The reported revenue represents a surprise of -0.84% over the Zacks Consensus Estimate of $3.31 billion. With the consensus EPS estimate being $0.63, the EPS surprise was +19.05%. View all Key Company Metrics for Xcel here>>> Shares of Xcel have returned +7.2% over the past month versus the Zacks S&P 500 composite ...