业绩总结 - 2025年第二季度调整后的每股收益（EPS）为0.92美元，比预期高出0.07美元[12] - 2025年上半年每股收益（EPS）为2.01美元，较2024年上半年下降5.6%[14] - 预计2025年全年的调整后每股收益指导为4.30至4.20美元[20] - 加速折旧费用对2025年第二季度EPS影响为-0.03美元[14] - 债务清偿相关费用对2025年第二季度EPS影响为-0.09美元[14] 用户数据 - 第二季度零售电力销售增长3.0%，与去年同期相比[12] - 第二季度新增15,000个住宅客户，工业用电增长主要来自纸业、基础金属和运输行业[27] - 经济发展公告显示第二季度新增6,000个就业机会和约20亿美元的资本投资[27] 未来展望 - 预计未来调整后的每股收益（EPS）年增长率为5%至7%[51] - 预计到2025至2029年间，电力负荷增长约8%，主要受强劲经济发展的推动[50] - 预计到2029年，州监管公用事业的资本支出占比达到95%[48] 新产品和新技术研发 - 乔治亚电力公司申请认证10GW的新资源，包括3.7GW的联合循环和2.8GW的电池储能系统[28] - 预计到2025年，Georgia Power的资源RFP流程将包括气体发电、可再生能源和电池储存等[44] - 预计Georgia Power将通过RFP认证流程增加高达40亿美元的投资[44] 市场扩张和并购 - 资本投资计划总额为760亿美元，较之前的基础预测增加130亿美元，预计到2029年州监管的资产基数增长8%[32] - 预计到2029年，南方公司的资本投资机会可能高达50亿美元[43] 负面信息 - 截至2025年6月30日，南方公司已签订前期销售合同，预计销售约23,093,191股普通股，销售总价约为20亿美元[71] 其他新策略和有价值的信息 - 2025年，Georgia Power的长期融资计划预计为110亿美元[58] - 目前可用流动性为76亿美元，承诺的信用额度超过89亿美元[68] - 计算FFO与债务的公式中，分子为经营活动提供的净现金流，减去某些流动资产和负债的变动、资产退休义务的结算及对非控股权益的分配[73] - 总长期债务包括到期一年内的债务，外加资产负债表中的应付票据[73]

Key Takeaways CMS reported Q2 EPS of 71 cents, beating estimates and rising 7.6% year over year.Q2 revenues rose 14.4% Y/Y to $1.84B, surpassing the $1.69B estimate on stronger operations.2025 EPS guidance of $3.54-$3.60 was reaffirmed, with 6-8% annual growth also maintained. CMS Energy Corporation (CMS) reported second-quarter 2025 earnings per share (EPS) of 71 cents, which beat the Zacks Consensus Estimate of 67 cents by 6%. The bottom line also increased 7.6% from 66 cents in the prior-year quarter.The ...

Key Takeaways DUK's Q2 sales are likely to have risen on warmer weather, customer growth and new data center agreements.New rate implementations and grid investment returns are expected to boost DUK's Q2 earnings.Higher depreciation and interest costs could pressure earnings despite rate hikes and cost cuts.Duke Energy Corporation (DUK) is scheduled to release its second-quarter 2025 results on Aug. 5, before market open. The company delivered an earnings surprise of 10.69% in the last reported quarter. Mor ...

Key Takeaways PCG reported Q2 adjusted EPS of $0.31, missing the consensus estimate of $0.33 by 6.1%.Revenues fell 1.5% year over year to $5.90 billion, also missing the estimate of $6.32 billion by 6.6%.PG&E reaffirmed its 2025 EPS guidance of $1.48-$1.52, matching the consensus midpoint of $1.50.PG&E Corporation ((PCG) reported second-quarter 2025 adjusted earnings per share (EPS) of 31 cents, which lagged the Zacks Consensus Estimate of 33 cents by 6.1%. The bottom line was in line with the prior-year qu ...

PPL (PPL) Q2 2025 Earnings Call July 31, 2025 11:00 AM ET Company ParticipantsAndrew Ludwig - VP - IRVincent Sorgi - President & CEOJoseph Bergstein - EVP & CFOBill Appicelli - Executive Director & Head - North America Power & Utilities ResearchDavid Paz - SVPConference Call ParticipantsJeremy Tonet - MD & Research AnalystPaul Zimbardo - MD & Research Analyst - Energy AnalystAngie Storozynski - Senior Equity Research AnalystOperatorGood day, and welcome to the PPL Corporation Second Quarter twenty twenty fi ...

PG&E (PCG) Q2 2025 Earnings Call July 31, 2025 11:00 AM ET Company ParticipantsJonathan Arnold - VP - Investor RelationsPatricia Poppe - CEOCarolyn Burke - EVP & CFONicholas Campanella - DirectorRichard Sunderland - Equity Research - North American Utilities & PowerAnthony Crowdell - Managing DirectorDavid Arcaro - Executive Director - Equity ResearchCarly Davenport - VP - Equity ResearchPaul Fremont - MD - Equity ResearchConference Call ParticipantsSteve Fleishman - MD & Senior AnalystJulien Dumoulin-Smith ...

Key Takeaways PPL reported Q2 EPS of 32 cents, missing estimates and decreasing from 38 cents last year.Total revenues rose 7.7% year over year to $2.03B, beating the consensus estimate by 2.5%.Higher fuel and energy costs pushed total operating expenses up 8.7% to $1.62B in Q2.PPL Corporation (PPL) reported second-quarter 2025 operating earnings per share (EPS) of 32 cents, which missed the Zacks Consensus Estimate of 37 cents by 13.5%. In the year-ago quarter, the company reported earnings of 38 cents per ...

Southern Co. (SO) reported $6.97 billion in revenue for the quarter ended June 2025, representing a year-over-year increase of 7.9%. EPS of $0.91 for the same period compares to $1.09 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $6.56 billion, representing a surprise of +6.24%. The company delivered an EPS surprise of +4.6%, with the consensus EPS estimate being $0.87.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how th ...

业绩总结 - 2025年全年的每股收益（EPS）指导范围为4.00至4.20美元，反映出中位数5%的年增长[7] - 2025年第二季度每股收益为0.33美元，较2024年第二季度的0.38美元下降[20] - 2025年截至目前的每股收益为2.24美元，较2024年同期的2.19美元增长[22] - 2025年第二季度的每股收益（EPS）为1.87美元，第一季度为1.87美元[73] - 2023年可供普通股股东的净收入（GAAP）为262.2百万美元，较2022年增长1.5%[84] - 2023年调整后的可供普通股股东的净收入（非GAAP）为262.2百万美元，保持不变[84] - 2023年调整后的每股收益（非GAAP）为3.91美元，与2022年持平[84] - 2025年截至目前的可供普通股股东的净收入（GAAP）为161.7百万美元[84] - 2025年截至目前的调整后每股收益（非GAAP）为2.24美元[84] 用户数据与市场展望 - 预计到2028年，数据中心的每股收益贡献将超过10%[16] - 预计2025年将实现4%至6%的长期每股收益增长[7] - 2025年将继续维持55%至65%的股息支付比率[7] - 预计2025年将实现1亿美元的资本投资，主要用于安全和系统完整性项目[13] - 2025年，预计运营和维护费用的年均复合增长率约为3.5%[79] 资本投资与财务状况 - 2025年至2029年资本投资预测为47亿美元，2025年单年投资为12亿美元[9] - 2025年6月的总债务为43.76亿美元，净债务占资本化的54.6%[70] - 2025年6月的股东权益为36.36亿美元，较2024年6月的34.47亿美元有所增长[70] - 2025年，Kansas Gas Docket 25-BHCG-298-RTS批准了每年1080万美元的新收入，新的费率将于2025年8月1日生效[52] - Nebraska Gas申请NG-124请求恢复4.53亿美元的投资和通货膨胀影响，预计2025年5月1日将产生3490万美元的收入增长[52] 其他策略与信息 - 公司强调非GAAP财务指标应与GAAP结果结合使用，以提供更全面的业务理解[83] - 管理层强烈建议投资者全面审视财务信息，而不是依赖单一财务指标[83] - 公司无法提供未来非GAAP指标的定量GAAP到非GAAP的调节，因为无法预见未来的非计划或独特事件[82] - 过去五年，低植被引起的停电率约为3.5%，远低于行业平均的20%[58] - 2020年至2023年，调整后的每股收益从3.65美元增长至3.91美元，年均增长率约为1.8%[84]

2025 SECOND QUARTER EARNINGS Delivering For Customers AND Investors July 31, 2025 1 Forward-Looking Statements This presentation and the oral remarks made in connection with it contain statements regarding PG&E Corporation's and Pacific Gas and Electric Company's (the "Utility") future performance, including expectations, objectives, and forecasts about operating results (including 2025 non-GAAP core earnings), debt and equity issuances, refinancing activity, rate base growth, capital expenditures, cash flo ...