Core Points - FirstEnergy Corp. is actively working to restore power to approximately 150,000 customers who remain without service after a severe storm impacted 380,000 customers on April 29, 2025 [1][2] - The storm is noted as the second worst on record since 2009 in western Pennsylvania, with wind speeds reaching 110-120 mph, causing extensive damage [2] - Over 4,750 resources are deployed 24/7 to restore power, with additional severe weather expected to potentially hinder restoration efforts [1][2] Outage Details - As of the latest update, power has been restored to more than 275,000 customers, with ongoing efforts to restore service to those still affected [1] - Specific outage numbers include approximately 197,000 customers in the West Penn Power area, 107,400 in the Penelec area, 13,600 in the Penn Power area, and 36,300 in the Mon Power area [5] - Estimated times for restoration (ETR) vary by county, with many customers expected to have power restored by May 3 or May 4 [6][7] Restoration Process - FirstEnergy follows a structured restoration process, prioritizing repairs that will benefit the largest number of customers first, including critical facilities [10] - The restoration efforts begin with transmission and substation facilities before addressing isolated issues affecting individual customers [11] - Customers can check their specific outage status and ETR through FirstEnergy's online platforms [12] Customer Support - Free water and ice are being provided to customers without power, available at participating stores [9] - Customers can report outages via phone or text, and are encouraged to prioritize safety during restoration efforts [8][2]

Financial Data and Key Metrics Changes - Duke Energy increased its capital plan to $83 billion over the next five years, one of the largest regulated plans in the industry [28] - The company reported a consistent annual growth rate of 5% to 7% and has paid a dividend for 99 consecutive years [30][42] Business Line Data and Key Metrics Changes - The company avoided over 2.3 million customer outages and more than 11 million hours of total outage time through grid improvements [29] - Duke Energy provided nearly $148 million in energy bill assistance, supporting over 210,000 households [30] Market Data and Key Metrics Changes - The company reported that all residential rates across its regions are below the national average [46] - The stock price has ranged from $100 to $120 per share over the last six months, which is considered affordable for small investors [44] Company Strategy and Development Direction - Duke Energy is focused on delivering value for customers and shareholders by investing in reliability, resiliency, and affordability [28] - The company is advancing new generation through integrated resource plans and plans to add five gigawatts of new natural gas generation by 2029 [32] Management's Comments on Operating Environment and Future Outlook - The CEO emphasized the pivotal moment for the industry, highlighting unprecedented growth potential and the importance of a growth mindset [27] - Management is committed to a flexible strategy that includes proven technologies like natural gas and nuclear, as well as emerging technologies [70] Other Important Information - The company has invested over $10 billion in grid resiliency and storm hardening over the last three years [34] - Duke Energy's nuclear facilities provide over 50% of the energy needs for the Carolinas and are the lowest cost generation asset [72] Q&A Session All Questions and Answers Question: When will be the next dividend increase? - The company is committed to growing the dividend, with historical increases occurring around the third quarter [42] Question: Is there any plans for a stock split in the near future? - Currently, there are no plans for a stock split, but the company will continue to evaluate this over time [44] Question: Why is Duke Energy repeatedly asking for price increases when service is questionable? - The company is focused on affordability and reliability, making substantial investments to modernize the grid [45] Question: Why do almost 50% of board members serve on multiple boards? - The board has a mix of industry and non-industry experience, which enriches deliberations and governance [48] Question: Why is it necessary to have so many members on the Board of Directors? - The board size aligns with industry standards and is necessary due to the complexity of the business [51] Question: Why do we give shares to executives and directors? - Compensation is structured to be market competitive, with a mix of cash and stock to align interests with shareholders [56] Question: Why was the program providing matching funds to retirees eliminated? - The company is focused on streamlining operations while still supporting communities through the Duke Energy Foundation [64] Question: Will you please stop all DEI activities? - The company values diversity and inclusion as a strength that benefits employees and customers [66] Question: How will management proceed if reaching net zero is unreasonably expensive? - The company will remain flexible and focus on reliability and affordability while exploring diverse resources [70] Question: How does nuclear power fit in with zero carbon energy generation? - Nuclear power is a vital asset, providing low-cost, reliable, and carbon-free energy, and the company aims to extend the lives of its nuclear plants [72]

Financial Data and Key Metrics Changes - The company reported adjusted EPS of $1.23 for Q1 2025, which is $0.02 higher than Q1 2024 and $0.03 above estimates [8] - Adjusted EPS estimate for Q2 2025 is $0.85 per share, reflecting a significant downside compared to Q2 2024 [10][21] - Weather-related impacts contributed $0.08 to year-over-year performance due to a milder Q1 2024 and a slightly colder Q1 2025 [9] Business Line Data and Key Metrics Changes - Retail electricity sales were down 0.3% year-over-year, primarily due to usage impacts on residential customers, partially offset by customer additions [10] - Data center sales increased by 11% year-over-year, while office buildings and the transportation sector saw increases of 4% each [11] - The company has a large load pipeline of over 50 gigawatts of potential incremental load by the mid-2030s, with 10 gigawatts already committed [11][12] Market Data and Key Metrics Changes - Economic development activity in the Southeast was robust, with over $11 billion in capital investment and more than 4,000 new jobs announced [11] - Unemployment rates and population growth in the service territories are better than national averages, indicating a strong economic position [11] Company Strategy and Development Direction - The company is focused on disciplined execution and maintaining affordability while navigating potential tariff impacts, estimating a 1% to 3% increase in costs [5][6] - Ongoing investments in existing fleet and modernization of facilities are part of the 2025 integrated resource plan [12] - The company aims to maintain strong investment-grade credit ratings while addressing $4 billion in equity needs over five years [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial outlook, emphasizing the resilience of the Southeast economy and customer growth in service territories [4][6] - The company does not expect a material impact from tariffs on its forecast and remains focused on disciplined execution [6] - Management highlighted the importance of regulatory frameworks and customer-centric business models in supporting reliable and affordable energy [7] Other Important Information - The board approved an 8¢ per share increase in the annual common dividend, marking the 24th consecutive annual increase [17] - The company is actively engaging with policymakers regarding tax credits and their benefits to customers [60] Q&A Session Summary Question: Clarification on Q2 EPS guidance - Management explained that the guidance reflects significant weather differentials and timing of transactions within the Georgia transmission system [21][22] Question: Update on Georgia Power load pipeline - The pipeline totals about 52 gigawatts, with 4 gigawatts contracted and 8 gigawatts committed, showing increased near-term interest [27][28] Question: Changes in data center activity following rate structure modifications - Management noted that it is early to assess customer reactions to the new tariff framework, but growth in the pipeline continues [78][81] Question: Feedback on RFPs and technology preferences - Management stated that they cannot disclose specifics about the RFP process but emphasized the all-source nature of the RFPs [84][86] Question: Dividend policy and future increases - Management indicated that dividend growth may remain modest due to significant financing needs, with reevaluation possible if capital opportunities change [111]

Financial Data and Key Metrics Changes - The company reported adjusted EPS of $1.23 for Q1 2025, which is $0.02 higher than Q1 2024 and $0.03 above estimates [9] - Adjusted EPS estimate for Q2 2025 is $0.85, reflecting a significant downside compared to Q2 2024 [10][21] - Weather-related impacts contributed $0.08 to year-over-year performance due to a milder Q1 2024 and a slightly colder Q1 2025 [9] Business Line Data and Key Metrics Changes - Retail electricity sales were down 0.3% year-over-year, primarily due to usage impacts on residential customers, partially offset by customer additions [10] - Data center sales increased by 11% year-over-year, while office buildings and the transportation sector saw increases of 4% each [11] - The company has a large load pipeline of over 50 gigawatts of potential incremental load by the mid-2030s, with 10 gigawatts already committed [11][12] Market Data and Key Metrics Changes - Economic development activity in the Southeast was robust, with over $11 billion in capital investment and more than 4,000 new jobs announced [11] - Unemployment rates and population growth in the service territories are better than national averages, indicating a strong economic position [11] Company Strategy and Development Direction - The company is focused on disciplined execution and maintaining affordability while navigating potential tariff impacts, estimating a 1% to 3% cost increase due to tariffs [6][7] - Ongoing investments in existing fleet and modernization of facilities are part of the 2025 integrated resource plan [12] - The company aims to provide reliable and affordable energy to over 9 million customers, leveraging strong vendor relationships and a diverse supplier portfolio [6][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial outlook, emphasizing strong customer growth and economic resilience in the Southeast [5][8] - There is ongoing policy uncertainty regarding tariffs, but the company does not expect a material impact on its forecast [7] - The company remains optimistic about future growth opportunities, particularly in the data center sector [26][36] Other Important Information - The board approved an 8¢ per share increase in the annual common dividend, marking the 24th consecutive annual increase [17] - The company has issued $2.2 billion of long-term debt year-to-date, nearly half of the projected financing needs for 2025 [15] Q&A Session Summary Question: Clarification on Q2 EPS guidance - Management explained that the guidance reflects significant weather differentials and timing of transactions within the Georgia transmission system [21][22] Question: Update on Georgia Power load pipeline - The pipeline totals about 52 gigawatts, with 4 gigawatts contracted and 8 gigawatts committed, showing increased interest from customers [27] Question: Feedback on data center activity post-rate structure modifications - Management indicated that it is early to assess customer reactions, but the new framework provides order and certainty for engaging with customers [78] Question: Insights on the Georgia Power rate case - Management confirmed that they are on track to file by early July and emphasized affordability as a primary consideration [49][100] Question: Impact of tariffs on growth opportunities - Management stated that existing projects are well-positioned against tariff impacts, and future projects will be executed with risk mitigations in place [96] Question: Dividend policy considerations - Management noted that maintaining a modest growth in dividends is essential to support financing needs and capital plans [108]

Core Insights - Data center demand remains strong in Northern Virginia, with no signs of slowing according to Dominion Energy executives [1][3][5] - Dominion Energy is closely collaborating with major tech companies investing heavily in data centers for AI model training [2][5] - Despite market speculation regarding potential pullbacks in tech sector investments due to tariffs and economic concerns, data center customers continue to invest in new projects [4][5][6] Company Performance - Dominion Energy has 40 gigawatts of data center capacity in various stages of contracting, indicating robust demand [5] - The company has maintained its full-year operating earnings guidance of $3.28 to $3.52 per share, reflecting confidence in ongoing demand [7] - Dominion's shares rose approximately 1% following the positive outlook on data center demand [7] Industry Trends - Executives from Amazon and Nvidia confirmed at a recent energy conference that data center demand is not slowing down [7] - The tech sector's investment in data centers is driven by the need for rapid expansion to support AI initiatives [6]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported a loss of $0.04 per share compared to earnings of $0.15 per share in Q1 2024, primarily due to the sale of Wright Canyon Energy in 2024 which provided a one-time benefit of $0.15 [15][16] - The increase in O&M, interest expense, and depreciation and amortization negatively impacted financial results, while new rates effective March 8, 2024, provided a $0.29 year-over-year benefit [16][19] - Weather-normalized sales growth was 2.1% for the quarter, with expectations of overall growth meeting guidance of 4% to 6% for the year [19][20] Business Line Data and Key Metrics Changes - Customer growth for the quarter was strong at 2.3%, near the high end of annual guidance, driven by significant growth in manufacturing and data center customers [18][19] - The company experienced a weather-normalized sales growth of 2.1%, with C&I growth at 5.3% due to the ramp-up of manufacturing and data center customers [19][20] Market Data and Key Metrics Changes - Arizona's economy is thriving, with significant investments in semiconductor manufacturing, including TSMC's increased investment to $165 billion, which is expected to create tens of thousands of high-paying jobs [6][20] - Arizona's total international exports rose nearly 12% in 2024, the highest growth rate in the country, led by sectors such as mining, semiconductors, and aerospace products [8] Company Strategy and Development Direction - The company is focused on enhancing customer experience and reliability, with ongoing investments in grid infrastructure and advanced digital platforms [9][12] - A rate case filing is planned for midyear, aiming to recover costs and develop a modernized rate structure to support high load factor customers [13][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing their strategy while creating customer and shareholder value, highlighting the robust growth in Arizona's economy and the need for continued investments [14][22] - The company is preparing for a significant increase in demand due to the growth of high load factor customers and ongoing economic development in the region [20][22] Other Important Information - The company has been recognized as one of the most trustworthy companies in America for 2024 by Newsweek [12] - The company is actively evaluating project proposals for new resources to be in service between 2028 and 2030, seeking at least 2,000 megawatts [11][55] Q&A Session Summary Question: Impact of TSMC customer additions on long-term forecast - The first fabrication facility is included in the forecast, and the ramp-up in C&I sales is attributed to TSMC and data centers [27][28] Question: Confirmation of retail rate return on new disclosures - The pipeline of opportunities extends beyond the three-year plan, with strategic transmission projects and generation investments highlighted [31][32] Question: Update on high load factor customer pipeline - The company remains committed to four gigawatts and has interest from over 10 gigawatts, with ongoing assessments of customer needs [43][44] Question: Regulatory lag expectations for 2026 - The focus is on minimizing regulatory lag through the upcoming rate case, with intentions to design a formula rate plan to address this issue [40][41] Question: Update on coal plant closure - The Cholla coal plant has been retired in accordance with federal law, and the company is exploring future repurposing options for the site [94][95] Question: Clarification on residential sales growth trends - The underlying sales growth trends are strong, with adjustments in accounting for unbilled revenues impacting reported figures [102][103] Question: Timing for formula rate adjustments - The intent is to have the first formula rate adjustment in 2027 following the conclusion of the current rate case [107][108]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported a loss of $0.04 per share compared to earnings of $0.15 per share in Q1 2024, primarily due to the sale of Wright Canyon Energy in 2024 which provided a one-time benefit of $0.15 [14][15] - The increase in operational and maintenance (O&M) expenses, interest expense, and depreciation and amortization negatively impacted financial results, while new rates effective March 8, 2024, provided a $0.29 year-over-year benefit [15][20] - Weather-normalized sales growth was 2.1% for the quarter, driven by strong commercial and industrial (C&I) growth of 5.3% [18][19] Business Line Data and Key Metrics Changes - Customer growth for the quarter was strong at 2.3%, near the high end of annual guidance, with Maricopa County being the third fastest growing county in the US [16] - The company’s capital plan is designed to meet the needs of ongoing customer growth and ensure reliable service [16][20] - The company expects overall weather-normalized sales growth to meet guidance expectations of 4% to 6% for the year [18] Market Data and Key Metrics Changes - Arizona's economy is thriving, with significant investments in semiconductor and advanced manufacturing, including TSMC's increased investment to $165 billion [5][19] - Arizona's total international exports rose nearly 12% in 2024, the highest growth rate in the country, driven by sectors such as mining and aerospace [6][7] Company Strategy and Development Direction - The company is focused on providing reliable service and enhancing customer experience through investments in digital platforms and infrastructure [11][12] - A rate case filing is planned for midyear 2025 to recover costs and investments, aiming to modernize the rate structure and reduce regulatory lag [12][21] - The company is actively evaluating project proposals for new resources to be in service between 2028 and 2030, seeking at least 2,000 megawatts [10][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in executing the strategy while creating customer and shareholder value [13] - The regulatory environment is being addressed to minimize lag and ensure competitive returns on equity [40][42] - The company is exploring future opportunities for repurposing retired coal plant sites for new generation technologies [92] Other Important Information - The company was recognized by Newsweek as one of the most trustworthy companies in America for 2024 [11] - The company is in the final stages of planned maintenance activities for generation units, with Palo Verde unit one expected to return to service in early May [10][12] Q&A Session Summary Question: Impact of TSMC customer additions on long-term outlook - The first fabrication facility is in full production, and the ramp-up in C&I sales is partly due to TSMC and data centers [28] - Future fabs are expected to accelerate, with ongoing evaluations of infrastructure needs [30] Question: Current pipeline of high load factor customers - The company remains committed to four gigawatts and is assessing interest from an additional 10 gigawatts [44] Question: Regulatory lag and formula rate plan - The intent is to minimize regulatory lag through the upcoming rate case, with a formula rate plan designed for annual adjustments [40][42][104] Question: Update on Eldorado investment - A gain was recognized due to higher profitability from a long-standing investment in an electric switchgear company [87][88] Question: Coal plant closure and future plans - The Cholla coal plant has been retired, and the site is being evaluated for potential new generation technologies [92][93] Question: Sales growth trends and residential usage - Underlying sales growth trends remain strong, with adjustments in accounting impacting reported figures [96][98]

Core Viewpoint - Dominion Energy has not observed any signs of a slowdown in demand for power supply from data centers [1] Group 1 - The company indicates that the demand for electricity from data centers remains strong [1]

Duke Energy Corporation (DUK) is scheduled to release its first-quarter 2025 results on May 6, before market open.The company delivered an earnings surprise of 3.11% in the last reported quarter. Moreover, DUK holds a four-quarter average earnings surprise of 4.30%. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors at Play Ahead of DUK’s Q1 ResultsThe majority of DUK’s service territori ...

Core Insights - Pinnacle West Capital Corporation (PNW) reported a first-quarter 2025 loss of 4 cents per share, missing the Zacks Consensus Estimate of earnings of 5 cents by 180% [1] - Total revenues for the quarter were $1.03 billion, exceeding the Zacks Consensus Estimate of $0.96 billion by 7.7% and increasing 8.4% from $0.95 billion in the year-ago quarter [1] Operational Highlights - Total operating expenses rose to $975 million, a 10.2% increase year over year, attributed to higher fuel and purchased power costs, as well as increased operations and maintenance expenses [2] - Operating income decreased to $57.2 million, down 14.4% from $66.8 million in the prior-year quarter [2] - Total interest expenses increased to $104.9 million, up 5.1% from $99.8 million in the previous year [2] Financial Highlights - As of March 31, 2025, cash and cash equivalents were $10 million, compared to $3.84 million as of December 31, 2024 [3] - Long-term debt, less current maturities, was $8.06 billion, slightly down from $8.058 billion as of December 31, 2024 [3] - Net cash flow from operating activities for the first quarter of 2025 was $401.9 million, compared to $347.3 million in the year-ago period [3] Guidance - The company expects consolidated earnings for 2025 to be in the range of $4.40-$4.60 per share, with the Zacks Consensus Estimate at $4.51, above the midpoint of the company's guidance [4] - Pinnacle West plans to invest $7.6 billion during the 2025-2027 period to enhance its operations [4] - Management anticipates a retail customer increase of 1.5-2.5% in 2025 [4] Zacks Rank - Pinnacle West currently holds a Zacks Rank 3 (Hold) [5]