Liquidity remained strong at $489.9 million as of June 30, 2025, down $31.5 million from the prior quarter but up $359 million year-over-year.
NuScale reported revenue of $8.1 million for Q2 2025, up from $1 million in the same period last year, driven primarily by engineering and licensing fees related to the RoPower project.
Operating expenses were $44.9 million for the quarter, slightly higher than $42 million in Q2 2024, reflecting disciplined cash management.
Additional tax credit amortization was $17.2 million in Q2 2025 compared with $7.5 million in Q2 2024, and $36.5 million in the first half of 2025 versus $20 million in the first half of 2024.
Depreciation expense increased by $6.4 million quarter-over-quarter due to accelerated capital investment.
For the first half of 2025, diluted earnings per share were $2.87 versus $2.67 in 2024.
Higher O&M expenses were driven by labor cost increases and wildfire mitigation program expenses.
IDACORP's diluted earnings per share were $1.76 in Q2 2025 compared with $1.71 in Q2 2024.
Net income increased by $6.3 million in Q2 2025 compared with Q2 2024, driven by higher retail revenues, customer growth, and higher usage due to warm and dry weather.
Net nonoperating expenses increased by $7 million due to higher interest on long-term debt and transmission customer deposits.
Operating cash flows for the first half of 2025 were $301 million, $45 million higher than the first half of 2024.
Operating income benefited from a $8.8 million increase in retail revenues per megawatt hour, $6 million from customer growth, and $5.5 million from increased usage per retail customer.
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.
Dafinchi