Dafinchi AI

Texas Pacific Land Corporation

TPL

Energy & Utilities

1w

Financial Performance Summary

Consolidated total revenue for Q2 2025 was $188 million, with adjusted EBITDA of $166 million and an adjusted EBITDA margin of 89%.
Free cash flow increased 12% year-over-year to $130 million.
Oil and gas royalty production reached a company record of 33,200 barrels of oil equivalent per day, a 33% increase year-over-year.
Produced water royalty revenues and easements and other surface-related income (SLEM) both set company records this quarter.
Water sales declined by $13 million sequentially due to lower oil prices and reduced operator activity.

Eversource Energy

ES

Energy & Utilities

2w

Financial Performance Summary

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.

Coterra Energy Inc.

CTRA

Energy & Utilities

2w

Financial Performance Summary

Capital expenditures were $44 million (7%) below the midpoint of guidance, driven by timing and cost savings.
Cash operating costs were $9.34 per BOE, down 6% quarter-over-quarter and aligned with annual guidance midpoint.
Coterra Energy exceeded the high end of guidance for natural gas and total barrel of oil equivalent (BOE) production and surpassed the midpoint on oil volumes in Q2 2025.
Coterra repaid $100 million of term loans in Q2, totaling $350 million in the first half of 2025, and returned $191 million to shareholders through dividends and share repurchases, representing 58% of free cash flow.
Discretionary cash flow was $949 million, with free cash flow of $329 million after capital expenditures.
Liquidity remained strong with an undrawn $2 billion credit facility and total liquidity of $2.2 billion.
Net income was $511 million or $0.67 per share, with adjusted net income of $367 million or $0.48 per share.
Revenues were balanced between oil and natural gas, including natural gas liquids (NGLs), with pre-hedge oil and gas revenues at $1.7 billion and 52% of revenues from oil production.

Bloom Energy Corporation

BE

Energy & Utilities

2w

Financial Performance Summary

Adjusted EBITDA reached $41.2 million versus $10.2 million in Q2 2024.
Bloom Energy reported record second quarter revenue of $401 million, up 19.5% year-over-year.
Earnings per share (EPS) was positive $0.10 compared to a loss of $0.06 a year ago.
Gross margin improved to 28.2%, a 650 basis point increase from 21.8% in Q2 2024, driven by product mix and level loaded manufacturing.
Operating income was $28.6 million compared to a $3.2 million loss in Q2 last year.
The company refinanced $113 million of convertible notes due in 2025 to increase financial optionality.
The service business has been profitable for six consecutive quarters with double-digit percentage margins for the first time.

Chevron Corporation

CVX

Energy & Utilities

2w

Chevron's Record Production Milestone in the Permian and U.S.

Achieved a quarterly record in production, with Permian averaging over 1 million barrels of oil equivalent per day, on schedule after a 5-year target.
U.S. production nearly 60% higher than two years ago, reflecting significant growth and operational success.

RES

Energy & Utilities

3w

Financial Performance Summary

Adjusted diluted EPS was $0.08, with $0.03 adjustments related to acquisition employment costs.
Adjusted EBITDA increased to $65.6 million with margin improving 90 basis points to 15.6%.
Cash balance was $162 million at quarter end, with $50 million seller financed note payable and no outstanding revolver balance.
Cost of revenues increased to $318 million from $245 million, primarily due to Pintail addition; excluding Pintail, cost of revenues declined 3%.
Dividends paid totaled $8.8 million during the quarter.
Effective tax rate was 41.3%, unusually high due to acquisition-related employment costs; full year 2025 tax rate expected in mid-30s.
Excluding Pintail, revenues were down 3% sequentially.
Operating cash flow was $92.9 million; free cash flow was $17.6 million after $75.3 million CapEx.
Pressure pumping accounted for 25.9% of revenues, wireline 24.7%, downhole tools 23.7%, coiled tubing 8.5%, cementing 6.6%, and rental tools 4.3%.
Revenues increased 26% to $421 million in Q2 2025, driven by the full quarter impact of the Pintail acquisition.
SG&A expenses decreased to $40.8 million from $42.5 million, representing 9.7% of revenue, down 310 basis points.
Technical Services revenues were up 27%, Support Services up 14%.