Eversource reported second quarter earnings of $0.96 per share, in line with expectations, compared to $0.95 per share last year.
FFO to debt ratio improved to 11.5% as of Q1 2025, up over 200 basis points from December 31, 2024.
Higher utility earnings from transmission, distribution, and natural gas segments were partially offset by increased parent losses due to higher interest expense after the sale of the offshore wind business.
Natural gas segment earnings improved by $0.02 per share due to base distribution rate increases, offset by higher O&M and other expenses.
Operating cash flows improved by over $1 billion year-over-year through the first half of 2025.
Parent losses increased by $0.07 per share primarily due to higher interest expense from the absence of capitalized interest post offshore wind sale.
Transmission earnings increased by $0.02 per share due to investments and lower interest expense; distribution earnings increased by $0.02 per share due to rate increases in New Hampshire and Massachusetts.
Water distribution earnings improved by $0.02 per share due to higher revenues and lower interest expense.
Baker Hughes delivered strong Q2 2025 results with adjusted EBITDA rising to $1.21 billion, a 7% year-over-year increase, and margins improving by 170 basis points year-over-year.
Free cash flow generated was $239 million, with $423 million returned to shareholders including $196 million in share repurchases.
GAAP diluted EPS was $0.71, and adjusted EPS was $0.63, up 11% year-over-year.
IET orders totaled $3.5 billion in the quarter, with backlog reaching a record $31.3 billion, up 3% sequentially.
IET revenue increased 5% year-over-year to $3.3 billion, with EBITDA growth outpacing revenue at 18% year-over-year.
Industrial & Energy Technology (IET) segment margins expanded by 190 basis points year-over-year to 17.8%, driven by strong order momentum and operational execution.
OFSE revenue increased 3% sequentially to $3.6 billion, with EBITDA margins expanding 90 basis points sequentially to 18.7%.
Oilfield Services & Equipment (OFSE) segment saw a 90 basis points sequential margin improvement with revenue growth in International and Subsea & Surface Pressure Systems.
Adjusted EBITDA for the quarter was $213 million, driven by strong contract operations and aftermarket services performance, including a $4 million net gain on asset sales and $3 million in other income.
Aftermarket services revenue reached $65 million, the highest since 2018, with a gross margin percentage of 23%, slightly down sequentially due to a higher mix of part sales.
Archrock reported outstanding second quarter 2025 results with record adjusted EPS and adjusted EBITDA, increasing adjusted EPS by nearly 70% and adjusted EBITDA by more than 60% year-over-year.
Contract operations revenue was $318 million, up 6% sequentially and 41% year-over-year, with a record adjusted gross margin percentage of approximately 70% for the third consecutive quarter.
Net income was $63.4 million, with adjusted net income of $68.4 million or $0.39 per share, including a $0.04 per share negative impact from an impairment related to the sale of the high-pressure gas lift business.
The company repurchased 1.2 million shares for $29 million during the quarter, with $59 million remaining capacity under the buyback program.
The fleet utilization remained high at 96%, with total operating horsepower increasing to 4.7 million from 4.3 million last quarter, including organic growth and acquisitions.
Dafinchi