Core Insights - IDACORP, Inc. (IDA) reported fourth-quarter 2025 earnings of 78 cents per share, exceeding the Zacks Consensus Estimate of 74 cents by 5.4% and showing an 11.4% increase from 70 cents in the same quarter last year [1][7] - For the full year 2025, earnings were $5.90 per share, up from $5.50 in 2024, driven by strong customer growth, rate changes, lower income tax expenses, and tax credits [1] Revenue Performance - Total revenues for Q4 2025 were $405.2 million, falling short of the Zacks Consensus Estimate of $417 million by 2.9%, but up 1.8% from $398.1 million in Q4 2024 [2] - Total revenues for the year 2025 were $1.81 billion, a decrease of 0.7% from $1.83 billion in 2024 [2] Operational Highlights - Customer volume increased by 2.3% year over year for the 12 months ending December 31, 2025, contributing an additional $5.7 million to operating income [3] - Other operations and maintenance expenses were reduced to $12.9 million, primarily due to lower labor-related costs and decreased expenses from thermal, transmission, and distribution assets [3] Financial Position - As of December 31, 2025, cash and cash equivalents stood at $215.7 million, down from $368.9 million a year earlier [5] - Long-term debt increased to $3.33 billion from $3.05 billion as of December 31, 2024 [5] - Net cash provided by operating activities was $601.8 million, compared to $594.4 million in the previous year [5] Future Guidance - IDACORP has set its 2026 earnings guidance at $6.25-$6.45 per share, with the Zacks Consensus Estimate at $6.42, near the upper end of the guidance [6] - Projected capital expenditures for 2026 are between $1.3 billion and $1.5 billion, with expected O&M expenses of $525-$535 million [6] - The company anticipates adding 5.5-7.5 MWh of hydropower in 2026 [6]

Core Insights - PPL Corporation reported fourth-quarter 2025 operating earnings per share (EPS) of 41 cents, missing the Zacks Consensus Estimate of 42 cents by 2.4% [1]. - On a GAAP basis, EPS was 36 cents, up from 24 cents in the year-ago quarter, with a difference attributed to special items impacting earnings by 5 cents [1]. Financial Performance - Operating EPS for 2025 was $1.81, reflecting a 7.1% increase from $1.69 in 2024 [2]. - Total revenues for Q4 were $2.27 billion, falling short of the Zacks Consensus Estimate of $2.34 billion by 2.7%, but up 2.8% from $2.21 billion in the previous year [3]. - For the full year 2025, revenues totaled $9.04 billion, compared to $8.46 billion in 2024 [3]. Operational Highlights - In Q4, PPL sold 16,487 gigawatt hours (GWh) of electricity, marking a 4% year-over-year increase [4]. - Total operating expenses were $1.8 billion, down 2% from $1.83 billion in the year-ago quarter, primarily due to reduced energy purchases [4]. - Operating income reached $476 million, a 26.3% increase from $377 million in the previous year [4]. Segment Performance - Pennsylvania Regulated segment reported adjusted EPS of 21 cents, up 5% from 20 cents year-over-year, driven by increased transmission revenues and lower operating costs [6]. - Kentucky Regulated segment's adjusted EPS was 19 cents, compared to 17 cents in the prior year, benefiting from higher sales volumes and capital investments [7]. - Rhode Island Regulated segment's adjusted EPS was 3 cents, a 50% increase from 2 cents year-over-year [7]. - The Corporate and Other segment incurred a loss of 2 cents per share, an improvement from a loss of 5 cents in the year-ago quarter [7]. Financial Position - As of December 31, 2025, PPL had cash and cash equivalents of $1.07 billion, up from $0.31 billion a year earlier [8]. - Long-term debt stood at $17.99 billion, an increase from $15.95 billion as of December 31, 2024 [10]. - Net cash provided by operating activities in 2025 was $2.63 billion, compared to $2.34 billion in the previous year [10]. Future Guidance - PPL expects 2026 earnings to be in the range of $1.90 to $1.98 per share, with the Zacks Consensus Estimate at $1.95 [11]. - The company anticipates a long-term annual earnings growth rate of 6-8% through 2029 [11]. - PPL has raised its planned infrastructure investments to $23 billion for 2026-2029, up from the previous plan of $20 billion for 2025-2028 [11]. Market Position - PPL currently holds a Zacks Rank 2 (Buy) [12].

Financial Data and Key Metrics Changes - The company achieved ongoing earnings of $1.81 per share, reflecting a 7.1% growth from the previous year and aligning with the midpoint of the forecast [5][30] - GAAP earnings for 2025 were reported at $1.59 per share, compared to $1.20 per share in 2024, indicating significant year-over-year improvement [30] Business Line Data and Key Metrics Changes - Kentucky results increased by $0.09 per share, driven by higher sales volumes and additional capital expenditures [30] - Pennsylvania results increased by $0.04 per share, led by higher transmission revenue and distribution rider recovery [30] - Rhode Island results decreased by $0.02 per share due to higher operating costs, although higher distribution revenue partially offset this decline [30] Market Data and Key Metrics Changes - The company reported a significant increase in data center interconnection requests, totaling approximately 25.2 gigawatts, a 23% increase since the last quarterly update [18] - In Kentucky, the current pipeline reflects over 9 gigawatts of potential new load, with data center requests exceeding 8 gigawatts [19] Company Strategy and Development Direction - The updated business plan extends the company's growth outlook while maintaining a focus on customer affordability and a strong credit profile [7] - The capital investment plan is projected at $23 billion from 2026 to 2029, an increase from the previous $20 billion, aimed at strengthening networks against severe weather impacts [9][10] - The company is committed to a dividend growth rate target of 4%-6% while issuing equity to fund its capital plan [11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for new, reliable generation resources to meet growing demand, particularly from data centers [42][43] - The company remains focused on minimizing bill increases for customers while ensuring financial strength to support economic growth [44] Other Important Information - The company outperformed its O&M savings target by about $20 million, achieving approximately $170 million in run rate savings from the 2021 baseline [6] - The commission approved an aggregate increase of approximately $233 million in annual electric and gas revenues in Kentucky, which aligns with the company's business plan [12] Q&A Session Summary Question: Insights on Pennsylvania rate case process - Management indicated that discussions are ongoing and the focus is on the impact of data centers on customer affordability, with a constructive outcome not hinging on a settlement [49][53] Question: Updates on joint venture and potential contracts - Management stated that significant events related to the joint venture could be communicated outside of earnings calls, and they are evaluating participation in upcoming auctions [62][63] Question: Data center backlog and generation sources - Management noted that hyperscalers are focused on speed to connect to the grid and are not overly concerned about the specific sources of generation, as they typically procure energy through market mechanisms [72][73]

Financial Data and Key Metrics Changes - The company achieved ongoing earnings of $1.81 per share, representing a 7.1% growth from the previous year and aligning with the midpoint of the forecast [5][30] - GAAP earnings for 2025 were $1.59 per share, compared to $1.20 per share in 2024, indicating significant year-over-year improvement [30] Business Line Data and Key Metrics Changes - Kentucky results increased by $0.09 per share due to higher sales volumes and additional capital expenditures, while Pennsylvania results increased by $0.04 per share driven by higher transmission revenue and distribution rider recovery [30][31] - Rhode Island results decreased by $0.02 per share due to higher operating costs, but this was partially offset by increased distribution revenue [30] Market Data and Key Metrics Changes - The company reported a significant increase in data center interconnection requests, totaling approximately 25.2 GW, which is a 23% increase since the last quarterly update [18] - In Kentucky, the economic development pipeline reflects over 9 GW of potential new load, with data center-related requests exceeding 8 GW [19] Company Strategy and Development Direction - The updated business plan extends the company's growth outlook while maintaining a focus on customer affordability and a strong credit profile [7] - The company projects capital investment needs of $23 billion from 2026 to 2029, up from $20 billion in the previous plan, to support reliability and resilience against severe weather [9][10] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of new generation resources to meet growing demand, particularly from data centers, and highlighted the need for increased capital investments to support this [24][42] - The company remains committed to affordability, having reduced O&M costs by nearly 3% annually, which has helped fund significant capital investments without increasing customer bills [21][22] Other Important Information - The company modified its annual dividend growth rate target to 4%-6% while issuing equity to fund its capital plan [11] - The company has engaged with stakeholders to support economic development, including a $3.5 billion investment by Eli Lilly in Pennsylvania [7] Q&A Session Summary Question: Update on Pennsylvania rate case process - Management indicated that discussions are ongoing and that the focus has been on the impact of data centers on customer affordability, with a constructive outcome expected regardless of whether it resolves through settlement or commission decision [49][54] Question: Contracts for GenCo and JV participation in auctions - Management stated that significant events would be communicated outside of earnings calls and that participation in special auctions would be evaluated based on risk profiles [61][63] Question: Data center backlog and generation sources - Management noted that hyperscalers are focused on speed to connect to the grid and are increasingly engaged in discussions about resource adequacy, with no signs of them pulling out of the region [70][75]

Financial Data and Key Metrics Changes - The company achieved ongoing earnings of $1.81 per share, reflecting a 7.1% growth from the previous year and aligning with the midpoint of the forecast [4][5] - GAAP earnings for 2025 were reported at $1.59 per share, compared to $1.20 per share in 2024, indicating significant year-over-year improvement [30] Business Line Data and Key Metrics Changes - Kentucky results increased by $0.09 per share, driven by higher sales volumes and additional capital expenditures [31] - Pennsylvania results increased by $0.04 per share, led by higher transmission revenue and distribution rider recovery [31] - Rhode Island results decreased by $0.02 per share due to higher operating costs, but higher distribution revenue partially offset this decline [31] Market Data and Key Metrics Changes - The company reported a significant increase in data center interconnection requests, totaling approximately 25.2 gigawatts, a 23% increase since the last quarterly update [18] - In Kentucky, the economic development pipeline reflects over 9 gigawatts of potential new load, with data centers exceeding 8 gigawatts [19] Company Strategy and Development Direction - The updated business plan extends the company's growth outlook while maintaining a focus on customer affordability and a strong credit profile [7] - The capital investment plan is projected at $23 billion from 2026 to 2029, an increase from the previous $20 billion plan, emphasizing investments in transmission and distribution networks [9][38] - The company aims for a 10.3% rate-based compound annual growth rate (CAGR) from 2025 to 2029, supported by critical investments [21][39] Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for new, reliable generation resources to meet growing demand, particularly from data centers [44][45] - The company remains committed to minimizing bill increases for customers while ensuring financial strength and supporting economic growth [46] Other Important Information - The company modified its annual dividend growth rate target to 4%-6% while issuing equity to fund its capital plan [11] - The recent Kentucky rate case approved an aggregate increase of approximately $233 million in annual electric and gas revenues [12] Q&A Session Summary Question: Update on Pennsylvania rate case - Management indicated that discussions are ongoing, with a focus on data center load impacts and net metering rules [50][51] - The process is advancing as expected, with a final order anticipated in June [52] Question: Joint venture and bidding into auctions - Management stated that they would not wait for an earnings call to announce significant developments related to the joint venture [62] - The joint venture is evaluating participation in special auctions for new generation but will not modify the company's risk profile significantly [64] Question: Data center backlog and generation sources - Management noted that hyperscalers are focused on speed to connect to the grid and are not overly concerned about the source of generation [72] - There is a strong commitment from customers to stay in the region despite generation concerns [78] Question: Potential investment opportunities and EPS growth - Management refrained from quantifying the potential size of investment opportunities but expressed confidence in the growth plan [82]

4 th Quarter 2025 Investor Update PPL CORPORATION February 20, 2026 Cautionary Statements and Factors That May Affect Future Results Statements made in this presentation about future operating results or other future events are forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the forward-looking statements. A discussion of some of the factors that could cause actual results or events to vary is cont ...

Alliant Energy Corporation Q4 2025 Earnings Call February 20, 2026 2025 Q4 Earnings Call 2 ALLIANT ENERGY 2025 Highlights 6.3% 10-year earnings CAGR | Financial Results | 2025 | 2024 | | --- | --- | --- | | GAAP net income (in millions) | $810 | $690 | | GAAP earnings per share (EPS) | $3.14 | $2.69 | | Ongoing EPS | $3.22 | $3.04 | Cautionary Statements Forward-looking Statements The information regarding earnings per share guidance, dividend target, earnings per share growth, load growth, capital expendit ...

Core Insights - Alliant Energy Corporation (LNT) reported fourth-quarter 2025 operating earnings of 60 cents per share, exceeding the Zacks Consensus Estimate of 58 cents by 3.45%, but down 14.29% from 70 cents in the same quarter last year [1] - The company achieved total revenues of $1.06 billion, surpassing the Zacks Consensus Estimate of $0.94 billion by 13.45%, and reflecting a year-over-year increase of 9.01% from $0.98 billion [2] - Adjusted earnings for 2025 were reported at $3.22 per share, a 5.92% increase from $3.04 in 2024 [1] Financial Performance - Total operating expenses rose to $868 million, a 15.12% increase from $754 million in the previous year, primarily due to higher costs in electric production fuel and purchased power [3] - Operating income decreased to $196 million, down 11.71% from $222 million in the year-ago period [3] - Interest expenses increased by 16.7% to $140 million compared to the prior year [4] Sales and Production - Total utility electric sales were reported at 7,907 thousand megawatt-hours, a decrease of 2.58% from the previous year [4] - Total utility gas sold and transported increased to 46,558 thousand dekatherms, reflecting a year-over-year growth of 4.63% [4] Cash Flow and Debt - As of December 31, 2025, cash and cash equivalents stood at $556 million, a significant increase from $81 million as of December 31, 2024 [5] - Long-term debt rose to $10.95 billion from $8.68 billion in the previous year [5] - Cash flow from operating activities was reported at $1.169 billion, slightly up from $1.167 billion in the prior year [5] Future Guidance - For 2026, Alliant Energy expects earnings per share to be in the range of $3.36 to $3.46, with long-term EPS growth projected at 5-7% for 2027-2029 [8] - The company anticipates a 1% growth in retail sales, driven by data center construction and commissioning sales [9] - Planned capital expenditures for 2026 are estimated at $3 billion, with a total of $13.4 billion earmarked for the period from 2026 to 2029 [9]

Core Insights - Consolidated Edison, Inc. reported fourth-quarter 2025 adjusted earnings of 89 cents per share, exceeding the Zacks Consensus Estimate of 84 cents by 5.6%, but down 9.2% from 98 cents in the prior-year quarter [1] - The company generated total revenues of $3.99 billion in the reported quarter, surpassing the Zacks Consensus Estimate of $3.7 billion by 8.1% and increasing 8.9% from $3.67 billion in the year-ago quarter [2] - For 2025, adjusted earnings were $5.70 per share, up from $5.40 in 2024, with total revenues reaching $16.92 billion compared to $15.26 billion in 2024 [1][2] Revenue Breakdown - Electric revenues totaled $2.88 billion, a 5.9% increase from $2.72 billion in the year-ago quarter [3] - Gas revenues surged 16.1% to $923 million from $795 million in the prior-year quarter [3] - Steam revenues rose 20.6% to $187 million compared to $155 million in the year-ago quarter [3] - Non-utility revenues amounted to $1 million, up from nil in the year-ago quarter [3] Operating Expenses - Total operating expenses in the fourth quarter increased 11.1% year over year to $3.51 billion [4] - Purchase power costs rose 6.8%, while other operations and maintenance expenses increased by 5.9% [4] - Depreciation and amortization expenses jumped 7.4%, and taxes other than income taxes went up 15.7% year over year [4] - Fuel expenses surged 67.5% year over year, and the cost of gas purchased for resale rose 28.4% [4] Financial Position - Cash and temporary cash investments as of December 31, 2025, totaled $1.63 billion, up from $1.32 billion as of December 31, 2024 [6] - Long-term debt was $25.55 billion as of December 31, 2025, compared to $24.65 billion at the end of 2024 [6] Future Guidance - The company expects adjusted earnings for 2026 to be in the range of $6.00-$6.20 per share, with a five-year adjusted EPS growth rate projected at 6-7% [9] - Consolidated Edison plans to invest $38 billion in capital from 2026 to 2030 [9] Market Position - Consolidated Edison currently holds a Zacks Rank 2 (Buy) [10]

Core Viewpoint - PPL Corp. expects full-year 2026 earnings per share to be in the range of $1.90 to $1.98, with a commitment to annual earnings growth of 6 to 8 percent through 2029, particularly stronger growth anticipated from 2027 onwards [1] Group 1: Financial Performance and Projections - The company projects earnings per share for 2026 to be between $1.90 and $1.98 [1] - PPL aims for annual earnings per share growth of 6 to 8 percent through 2029, with growth expected to be in the top half of this range based on 2025 earnings of $1.81 per share [1] Group 2: Capital Investments and Dividends - Planned infrastructure investments have been increased to $23 billion from 2026 through 2029, up from a previous plan of $20 billion from 2025 to 2028 [2] - PPL announced a 4.6 percent increase in its quarterly common stock dividend, raising it to $0.2850 per share from $0.2725 per share, effective April 1, 2026 [2] - The company targets annual dividend growth of 4% to 6% to support reinvestment [3] Group 3: Market Performance - In pre-market trading, PPL shares are priced at $35.54, reflecting a decrease of $1.43 or 3.87 percent [4]