Dafinchi AI

MDU Resources Group, Inc.

MDU

Energy & Utilities

1w

Impact of Weather and Operating Costs on Earnings Guidance

The company narrowed its EPS guidance range to $0.88-$0.95 from the previous $0.88-$0.98, citing weather impacts and higher operating costs.
Warmer-than-normal weather in Idaho and Montana in Q2 negatively affected natural gas volumes and utility revenues.
Inflationary pressures, including higher payroll, insurance, and outage-related costs, contributed to increased operating expenses, influencing the revised guidance.

WHD

Energy & Utilities

2w

Financial Performance Summary

Adjusted EBITDA was $87 million, down 7.6% sequentially, with margins compressing to 31.7% from 33.5%.
Cash balance increased to $405 million, up approximately $58 million sequentially, supported by positive inventory and accounts payable movements and lower CapEx.
GAAP income was $49 million in Q2 versus $54 million in Q1; adjusted net income was $53 million with EPS of $0.66.
Legal expenses and reserves related to litigation increased by approximately $2 million to $5.1 million in Q2.
Net CapEx was approximately $11.1 million in Q2, with a reduced full-year 2025 CapEx outlook of $40 million to $45 million.
Operating income declined $12 million or 22.1% sequentially, with margin compression due to tariffs, lower rental revenue, and legal expenses.
Pressure Control segment revenue declined 5.5% sequentially to $180 million, driven by lower rental business revenue and unfavorable product mix.
Q2 2025 revenue was $274 million, a sequential decline of 2.4%.
Spoolable Technologies segment revenue increased 3.9% sequentially to $96 million, with improved operating income and margins.
The Board approved an 8% increase in the quarterly dividend to $0.14 per share.

American States Water Company

AWR

Energy & Utilities

1w

Financial Performance Summary

ASUS earnings declined to $0.13 from $0.19 due to timing of construction activities.
Consolidated earnings per share (EPS) for Q2 2025 were $0.87, up from $0.85 in Q2 2024.
Consolidated revenue increased by $7.7 million compared to Q2 2024, with water and electric segments contributing increases and ASUS revenue declining.
Electric segment EPS rose to $0.03 from $0.01 due to new 2025 electric rates.
Golden State Water's EPS increased to $0.73 from $0.67, driven by new 2025 water rates and higher investment gains.
Operating expenses increased due to higher supply costs and wildfire mitigation efforts authorized in the electric rate case.
Year-to-date EPS through June 2025 was $1.57, $0.10 higher than the same period in 2024.

Chesapeake Utilities Corporation

CPK

Energy & Utilities

1w

Financial Performance Summary

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.

Portland General Electric Company

POR

Energy & Utilities

3w

Financial Performance Summary

2025 capital forecast was modestly reduced due to efficiencies in capital execution but continues to support growth and customer needs.
Commercial load increased slightly by 0.3% overall or 0.7% weather-adjusted.
EPS drivers included a $0.32 increase in total revenue, partially offset by decreases from power costs, other operating expenses, and business transformation expenses.
For the second quarter, Portland General Electric reported GAAP net income of $62 million or $0.56 per diluted share and non-GAAP net income of $73 million or $0.66 per share.
Q2 2025 non-GAAP results exclude business transformation and optimization expenses related to customer affordability commitment and corporate structure updates.
Residential load decreased 2.3% quarter-over-quarter but increased 1% weather-adjusted; residential customer count increased 1.4%.
This compares to second quarter GAAP net income of $72 million or $0.69 per diluted share in the prior year.
Total liquidity at the end of Q2 was $980 million with credit ratings and outlook remaining stable.
Total load increased 4.9% overall and 6.1% weather-adjusted compared to Q2 2024, driven by strong industrial demand growth, especially from data centers with 16.5% increase.

OGE Energy Corp.

OGE

Energy & Utilities

3w

Financial Performance Summary

Consolidated net income for Q2 2025 was $108 million or $0.53 per diluted share, compared to $102 million or $0.51 per share in Q2 2024.
Electric company net income was $108 million or $0.53 per diluted share, slightly down from $109 million or $0.54 per share in Q2 2024 due to milder weather and higher interest and depreciation expenses.
Holding company reported a small loss of less than $1 million, flat compared to a $7 million loss in Q2 2024, primarily due to a one-time pretax benefit of $8.7 million from legacy midstream operations.
Industrial and oilfield load showed softness due to unplanned customer outages but future growth is expected.
Year-to-date weather-normalized load grew 6.5% compared to the same period in 2024, with residential and commercial customer growth at 1% and 25%, respectively.

Select Energy Services, Inc.

WTTR

Energy & Utilities

2w

Financial Performance Summary

Chemical Technologies segment revenues declined about 11% sequentially but exceeded margin guidance with 17.5% gross margin before D&A.
Consolidated adjusted EBITDA was $73 million in Q2, above the high end of prior guidance.
Select Water Solutions increased net income by 22% and adjusted EBITDA by 13% in Q2 2025.
SG&A increased to $39 million (just under 11% of revenue), partly due to Peak carve-out costs.
Water Infrastructure segment revenues grew 12% with a 55% gross margin before D&A, up 1.5 percentage points sequentially.
Water Services segment revenues decreased approximately 4% sequentially, with gross margins holding steady around 20%.

EVRG

Energy & Utilities

1w

Financial Performance Summary

Adjusted earnings totaled $191 million compared to $207 million in Q2 2024, with weather-normalized demand growth of 1.4%.
Evergy reported Q2 2025 adjusted earnings of $0.82 per share, exceeding internal budget and overcoming $0.09 of unfavorable weather impact.
Losses of approximately $0.08 per share were recorded related to the decision to exit Evergy Ventures, excluded from adjusted earnings.
Recovery of and return on regulated investments contributed $0.09 per share, while higher O&M and infrastructure investment expenses reduced EPS by $0.05 and $0.07 respectively.
Weather-normalized demand increased 1.4% driven by residential and commercial usage, with industrial sales showing year-over-year growth in June.

CenterPoint Energy, Inc.

CNP

Energy & Utilities

3w

Financial Performance Summary

CenterPoint Energy reported diluted GAAP earnings per share of $0.30 and non-GAAP EPS of $0.29 for Q2 2025, compared to $0.36 non-GAAP EPS in Q2 2024.
Equity issuances of $500 million last year, including a $250 million pull forward, resulted in a $0.01 unfavorable variance quarter-over-quarter.
The first half of 2025 non-GAAP EPS is approximately 46% of the midpoint of the full year guidance range of $1.74 to $1.76, in line with expectations.
Through the first half of 2025, $2.4 billion of base capital work was invested, on track to meet the revised 2025 capital investment target of $5.3 billion.
Trailing 12-month adjusted FFO to debt ratio was 14.1% at quarter end, with credit metrics expected to strengthen through the year.
Unfavorable variances included $0.01 from rate recovery netted with depreciation and taxes, $0.03 from O&M due to accelerated vegetation management, and $0.03 from higher interest expense and financing costs.
Weather and usage contributed a favorable $0.01 variance, mainly from Houston Electric's warmer start to 2025 compared to 2024.

Duke Energy Corporation

DUK

Energy & Utilities

2w

Financial Performance Summary

Duke Energy reported adjusted earnings per share (EPS) of $1.25 for Q2 2025, up from $1.18 in Q2 2024, driven by top-line growth across Electric Utilities.
Electric Utilities and Infrastructure segment EPS increased by $0.10 year-over-year due to new rates in Carolinas, Florida, and Indiana, partially offset by higher O&M and interest expenses.
Gas Utilities and Infrastructure results were flat year-over-year, consistent with seasonal trends in the LDC business.
The company is on track to achieve its 2025 EPS guidance range of $6.17 to $6.42 and maintain a long-term EPS growth rate target of 5% to 7% through 2029.
The Other segment declined by $0.02 primarily due to higher planned interest expense.