Dafinchi AI

Exelon Corporation

EXC

Energy & Utilities

2w

Financial Performance Summary

Annualized earnings growth rate reaffirmed at 5% to 7% through 2028, with expectation to be at midpoint or better.
Capital financing progress includes nearly 80% of planned long-term debt issued, strong investor demand, and $700 million of planned equity needs priced via ATM and forward agreements.
Exelon earned $0.39 in operating earnings per share in Q2 2025, above expectations from the Q1 call, driven by favorable timing and cost management at utilities.
Full year 2025 operating earnings guidance reaffirmed at $2.64 to $2.74 per share, with a goal to be at midpoint or better.
Q2 2025 earnings were $0.08 lower than Q2 2024, primarily due to higher distribution and transmission rates, timing differences at ComEd, a $50 million customer relief fund, higher storm costs at PECO, and higher interest costs.
Year-to-date performance remains strong despite significant storm activity and customer support initiatives.

VST

Energy & Utilities

1w

Financial Performance Summary

Generation segment benefited from a comprehensive hedging program, with realized prices nearly $3/MWh higher year-over-year, offsetting unplanned outages.
Net leverage ratio remains approximately 3x adjusted EBITDA, with expectations to materially decline starting in 2026.
Retail segment showed strong customer count and margin performance, on track to outperform 2024 results despite expected seasonal cost impacts.
Vistra reported adjusted EBITDA of $1.349 billion for Q2 2025, with $593 million from Generation and $756 million from Retail segments.
Year-to-date results include two months of Energy Harbor results and higher capacity revenue, offsetting outage impacts.

Antero Midstream Corporation

AM

Energy & Utilities

2w

Financial Performance Summary

Capital expenditures for the first half of 2025 totaled $82 million, representing 45% of the updated capital budget midpoint.
Free cash flow after dividends was $82 million, nearly a 90% increase compared to the prior year, supported by declining capital expenditures.
In Q2 2025, Antero Midstream generated $284 million of EBITDA, an 11% year-over-year increase driven by record gathering and processing volumes.
Leverage was reduced to 2.8x as of June 30 through debt reduction funded by free cash flow.

Avista Corporation

AVA

Energy & Utilities

2w

Impact of Clean Technology Valuation Losses on Earnings

Valuations of clean technology-focused funds declined significantly due to shifts in public policy and sentiment.
Valuation losses in Q2 impacted earnings by $0.12 per diluted share.
Losses are linked to uncertainties around tariffs and the tax reconciliation bill.
Valuations reached their lowest point around the end of Q1, with some strategic value expected long-term.

Par Pacific Holdings, Inc.

PARR

Energy & Utilities

2w

Financial Performance Summary

Cash from operations totaled $83 million excluding working capital inflows and deferred turnaround expenditures.
Corporate expenses and adjusted EBITDA totaled $24 million for the quarter.
Gross term debt was $641 million with a leverage ratio of 3x trailing 12-month retail and logistics EBITDA.
Refining segment reported adjusted EBITDA of $108 million in Q2 compared to a loss of $14 million in Q1.
Retail segment adjusted EBITDA increased to $23 million from $19 million in Q1, driven by higher fuel margins and same-store sales growth.
Second quarter adjusted EBITDA was $138 million and adjusted net income was $1.54 per share.
Total liquidity increased 23% to $647 million, supported by strong operating cash flows and expanded ABL facility capacity.

Helix Energy Solutions Group, Inc.

HLX

Energy & Utilities

3w

Financial Performance Summary

Adjusted EBITDA was $42 million for the quarter with negative operating cash flow of $17 million, resulting in negative free cash flow of $22 million.
Cash and liquidity remain strong with $320 million in cash and cash equivalents and $375 million in total liquidity at quarter end.
Revenues for Q2 2025 were $302 million with a gross profit of $15 million and a net loss of $3 million, compared to $278 million in revenue, $28 million in gross profit and net income of $3 million in Q1.
Robotics segment had strong vessel utilization and contract activity, including renewables and trenching projects globally.
Shallow Water Abandonment segment had a slower start to the season, impacting profitability and utilization.
The Well Intervention segment saw impacts from regulatory docking of the Q5000, demobilization of the Q4000, and warm stacking of the Seawell vessel.
Year-to-date revenues were $580 million, gross profit of $42 million, breakeven net income, and adjusted EBITDA of $94 million.