Adjusted earnings per share (EPS) for Q2 2025 increased 21% year-over-year to $1.04, marking the fourth consecutive quarterly increase following the Florida City Gas acquisition.
Adjusted gross margin rose 13% to approximately $143 million, driven by investments in transmission and distribution infrastructure, organic growth, and regulatory initiatives.
Adjusted net income increased 26% to approximately $24 million compared to Q2 2024.
Depreciation and amortization expenses increased by $0.14 per share, reflecting the absence of RSAM-related depreciation expense reduction this quarter compared to last year.
Regulated segment adjusted gross margin grew 14% to about $118 million, with operating income up 28% to approximately $52 million.
Unregulated Energy segment's adjusted gross margin increased 7% to approximately $25 million, supported by Marlin Virtual Pipeline services and Full Circle Dairy RNG production.
Dafinchi