Dafinchi AI

Energy & Utilities

Adjusted earnings for the quarter were $4.1 million, an increase of over $8 million compared to last year.
Corporate costs were slightly lower due to higher returns on nonqualified benefit plans, partially offset by higher interest expense.
Gas Marketing segment earnings increased by over $4 million, benefiting from strong positioning during the quarter.
Midstream segment earnings grew strongly due to additional capacity and asset optimization at Spire Storage, despite higher operating costs.
O&M expenses increased slightly but remain well-managed with a year-to-date run rate less than 1% higher than prior year.
Spire reported adjusted earnings of $0.01 per share in Q3 FY 2025, compared to a loss of $0.14 per share a year ago, reflecting growth across all business segments.
The Gas Utility segment had an adjusted loss of $10 million, $1 million better than prior year, driven by higher ISRS revenues and partially offset by lower usage net of weather mitigation.

AVA

Energy & Utilities

Avista Utilities' year-to-date earnings were $1.25 per diluted share, a nearly 7% increase over 2024's year-to-date results.
Capital expenditures at Avista Utilities were $236 million in the first half of 2025, with an expected total of $525 million for the full year.
Consolidated earnings for the first half of 2025 were $1.15 per diluted share, down from $1.20 in the first half of 2024.
Second quarter 2025 consolidated earnings were $0.17 per diluted share, compared to $0.29 in the second quarter of 2024.
Valuation losses of $0.12 per diluted share in Q2 2025 were primarily due to investments in clean technology-focused venture funds.

AMRC

Energy & Utilities

Adjusted cash flows from operations were approximately $50 million, including $71 million from sale of investment tax credits.
Ameresco reported second quarter 2025 revenue growth of 8% and adjusted EBITDA growth of 24%, with strong earnings per share growth.
Debt-to-EBITDA leverage ratio was 3.4, below the covenant level of 3.5, with $82 million cash and $294 million total corporate debt.
Energy asset revenue grew 18%, driven by growth in operating assets now totaling nearly 750 megawatts.
Gross margin for the quarter was 15.5%, showing solid improvement sequentially and year-over-year.
Net income attributable to common shareholders was $12.9 million or $0.24 per share, with non-GAAP EPS of $0.27 after adjustments.
Non-cash mark-to-market gains of $4.3 million and $3 million in foreign exchange translation gains positively impacted earnings.
Total project backlog increased 16% to a record $5.1 billion, with contracted backlog up 46% to $2.4 billion.

PUMP

Energy & Utilities

Adjusted EBITDA totaled $50 million, 15% of revenue, and decreased 32% compared to the prior quarter, including $14 million lease expense related to electric fleets.
Capital expenditures paid were $37 million and incurred were $73 million, including $30 million for maintenance and $43 million supporting PROPWR orders.
Cash and liquidity remain strong with $75 million in cash and $178 million total liquidity including $103 million available capacity under the ABL credit facility.
Free cash flow for the Completions business was $26 million, demonstrating sustainable cash flow despite challenging market conditions.
Net loss totaled $7 million or $0.07 loss per diluted share compared to net income of $10 million or $0.09 income per diluted share for the first quarter of 2025.
No shares were repurchased in Q2 2025 as the company prioritized launching and scaling the PROPWR business.
ProPetro generated total revenue of $326 million, a decrease of 9% compared to the prior quarter.

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