Company Overview - Consolidated Edison, Inc. is one of the largest investor-owned energy-delivery companies in the United States, with approximately $15 billion in annual revenues for the year ended December 31, 2024 [2] - The company has total assets amounting to $71 billion as of March 31, 2025 [2] Services Provided - The company operates through several subsidiaries, including: - Consolidated Edison Company of New York, Inc., which provides electric service in New York City and Westchester County, gas service in Manhattan, the Bronx, parts of Queens, and parts of Westchester, as well as steam service in Manhattan [2] - Orange and Rockland Utilities, Inc., serving customers in a 1,300-square-mile area in southeastern New York State and northern New Jersey [2] - Con Edison Transmission, Inc., which invests in electric transmission projects and manages electric and gas assets through joint ventures, primarily under the oversight of the Federal Energy Regulatory Commission [2]

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Financial Data and Key Metrics Changes - The company reported record net income for the first quarter of 2025, with a trailing twelve-month return on equity (ROE) of 8.2% [9][10] - The net income guidance for the full year is reaffirmed at $265 million to $275 million [35] - Operating margin increased by $38.9 million, driven by $27 million of combined rate relief and customer growth [27][30] Business Line Data and Key Metrics Changes - The utility segment benefited from rate relief in Nevada and Arizona, contributing to higher net income [25] - Approximately 40,000 new meter sets were added over the past twelve months, indicating strong customer growth [27][22] - Century's results improved due to higher volumes under master services agreements and lower interest expenses, although offshore wind project revenues decreased [26] Market Data and Key Metrics Changes - Economic activity and demand for natural gas service remain strong, particularly in Arizona and Nevada, with significant growth in sectors like advanced manufacturing and data centers [21][22] - The Arizona Commission opened a docket to address resource adequacy of natural gas infrastructure due to increased demand [22] Company Strategy and Development Direction - The company is focused on becoming a premier fully regulated natural gas utility and is committed to separating Century to enhance shareholder value [10][11] - A capital investment plan of approximately $4.3 billion over the next five years is expected to support safety, reliability, and economic development [24] - The company aims to maintain a flat O&M cost per customer trend while achieving net income growth through regulatory strategies [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory strategy and the positive outcomes from recent rate cases in Arizona and Great Basin [10][18] - The company anticipates continued robust capital spending driven by safety, reliability, and economic activity in service territories [9][35] - Management noted that the successful execution of separation options for Century is contingent on favorable market conditions [12] Other Important Information - The company has over $400 million in cash on hand and more than $1 billion in liquidity, providing flexibility for capital investments [13] - The balance sheet remains strong, with a commitment to maintaining an investment-grade profile [33][34] Q&A Session Summary Question: What is the current status of your plans to exit Century? - Management reiterated their commitment to the separation of Century and mentioned the ability to file an S-three to facilitate market execution [42] Question: What are the financial implications of the SIM if the settlement is approved? - Management indicated that clarity on timing and projects would come once the SIM is approved, which represents about 40% of non-revenue producing infrastructure investment [43] Question: Has there been any change to Southwest Gas' internal controls or accounting processes? - Management confirmed that there have been no changes in internal controls related to the recent accounting issue that caused a delay in the earnings call [46] Question: Can you speak to the incremental CapEx investment opportunities from the influx of data centers? - Management stated that current guidance does not include material changes due to new demand but will monitor and adjust as necessary [49] Question: Is the Great Basin open season binding? - Management confirmed that the open season is binding and will provide better indications of future CapEx changes once it closes [53]

Financial Data and Key Metrics Changes - The company reported GAAP earnings per share of $1.3, a 6% increase compared to the same quarter last year [6] - Revenues increased by 28% from $612.1 million to $783.6 million year-over-year [24] - The company reaffirmed its 2025 earnings per share guidance range of $2.07 to $2.11, compared to last year's non-GAAP earnings of $1.97 per share [7] Business Line Data and Key Metrics Changes - Both the Water and Gas businesses performed well, contributing to the overall strong results [6] - The Gas segment reported an increase in volumes due to normal weather conditions compared to significantly warmer weather in the previous year [24] Market Data and Key Metrics Changes - The company has begun to raise equity through its ATM program, issuing approximately $210 million so far this year [8] - The company is in discussions with data center developers representing up to five gigawatts of needed power generation in the Pittsburgh region [21] Company Strategy and Development Direction - The company plans to invest between $1.4 billion and $1.5 billion in infrastructure improvements in 2025, with $270.5 million already invested by March 31 [7] - The company is focusing on water and wastewater utility acquisitions, having acquired over $518 million in rate base since 2015 [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year earnings per share guidance, citing strong first-quarter performance but cautioning about potential headwinds in the remaining quarters [52] - The company is committed to addressing PFAS compliance and expects to spend approximately $450 million to achieve compliance by 2028 [10][56] Other Important Information - The company has been recognized for its operational achievements, including a 99.8% water quality compliance rate [9] - New rates went into effect for Aqua Pennsylvania, expected to increase total annual revenues by $73 million [31] Q&A Session Summary Question: Regarding equity issuance and share price - Management indicated that the focus is on raising the $315 million in equity needed for 2025 rather than considering 2026 equity needs at this time [43] Question: Texas rate case expectations - Management stated that they plan to file the Texas rate case by the end of the month and will provide details on revenue requests and equity layers at that time [45] Question: EPS guidance and performance - Management acknowledged strong first-quarter performance but emphasized the need to wait for clarity as the year progresses before adjusting guidance [52] Question: Impact of EPA announcement on PFAS - Management confirmed that they are proceeding with their PFAS mitigation plans and remain on track with their budget [56] Question: Data centers and gas supply - Management discussed various approaches to support data center development, including behind-the-meter generation and increased distribution volume [65] Question: Beaver Falls settlement status - Management expressed optimism about the Beaver Falls case being on the agenda in June and highlighted the importance of resolving such cases for water supply [90]

Financial Data and Key Metrics Changes - The company reported GAAP earnings per share of $1.3, a 6% increase compared to the same quarter last year [5] - Revenues increased by 28% from $612.1 million to $783.6 million year-over-year [22][23] - The company reaffirmed its 2025 earnings per share guidance range of $2.07 to $2.11, compared to last year's $1.97 on a non-GAAP basis [6][12] Business Line Data and Key Metrics Changes - Both the Water and Gas businesses performed well, contributing to the overall strong results [5] - The Gas segment reported an increase in volumes due to normal weather conditions compared to significantly warmer weather in the previous year [23] Market Data and Key Metrics Changes - The company has begun to raise equity through its ATM program, issuing approximately $210 million so far this year [6] - The company expects to receive approximately $100 million in proceeds from settlements with polluters [8] Company Strategy and Development Direction - The company is focused on infrastructure investments, planning to invest between $1.4 billion and $1.5 billion in 2025 [6] - The company is actively pursuing water and wastewater utility acquisitions, having acquired over $518 million in rate base since 2015 [30][31] - The company aims for a compounded annual growth rate of 8% in its combined utility rate base, with specific growth rates of 6% for regulated water and 11% for regulated natural gas segments [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year earnings per share guidance, despite potential headwinds in the remaining quarters [50] - The company is committed to addressing PFAS compliance and expects to meet its $450 million capital spend target by 2028 [8][54] Other Important Information - The company has been recognized for its operational achievements, including a 99.8% water quality compliance rate [7] - Legislative developments in Texas and Ohio are seen as positive for the company's regulatory environment [10][29] Q&A Session Summary Question: Equity issuance and share price - Management indicated that the focus is on raising the $315 million in equity needed for 2025 rather than considering 2026 equity needs at this time [40] Question: Texas rate case expectations - The company plans to file for the Texas rate case by the end of the month, with expectations for revenue increase and ROE consistent with other states [42][44] Question: EPS guidance and performance - Management noted that while the first quarter started strong, it is premature to adjust guidance due to uncertainties in the remaining quarters [50] Question: PFAS operational strategy - The company is proceeding with its PFAS mitigation plans and remains on track with its budget [54] Question: Data centers and gas supply - Discussions with data center developers are ongoing, with various approaches being considered, including behind-the-meter generation [62] Question: Beaver Falls settlement - Management expressed optimism about the Beaver Falls case, expecting it to be on the agenda in June [86]

Northwest Natural Company (NWN) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Nikki Sparley - Director of Investor RelationsJustin Palfreyman - President & CEORaymond Kaszuba - SVP & CFO Conference Call Participants None - Analyst Operator Thank you all for standing by for the North West Natural Holdings Company's First Quarter twenty twenty five Earnings Call. Today's call will be starting in around four minutes' time. Thank you for standing by. And if you do wish to remove it, you ca ...

NEW YORK, May 1, 2025 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2025 first quarter net income for common stock of $791 million or $2.26 a share compared with $720 million or $2.08 a share in the 2024 first quarter. Adjusted earnings (non-GAAP) were $792 million or $2.26 a share in the 2025 period compared with $742 million or $2.15 a share in the 2024 period. Adjusted earnings and adjusted earnings per share in the 2025 period excludes accretion of the basis difference ...

RAPID CITY, S.D., May 01, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its Nebraska natural gas utility has filed a rate review application with the Nebraska Public Service Commission requesting $34.9 million in new annual revenue to recover the necessary capital infrastructure and operational costs required to deliver safe, reliable natural gas service for over 304,000 Nebraska customers. Since its last general rate filing in 2020, the company will have invested over $453 mil ...