American Transmission Company contributed an incremental $0.01 to Q2 earnings, while Energy Infrastructure segment earnings decreased by $0.03 due to storm damage losses and other factors.
Common equity issuance totaled about $425 million in H1 2025, on track for $700 million to $800 million for the year, part of $2.7 billion to $3.2 billion expected through 2029.
Corporate and other segment earnings decreased by $0.03 due to higher interest expense.
O&M expenses are expected to grow 8% to 10% for the full year compared to 2024, driven by vegetation management, new assets, and prior measures to offset mild weather impact.
Retail electric deliveries grew 1.1% year-over-year, led by large commercial and industrial segment growth of 1.9%.
These gains were partially offset by higher depreciation and amortization expense (-$0.05) and higher day-to-day O&M (-$0.02).
Utility operations earnings increased by $0.16 year-over-year, driven by weather (+$0.04), rate-based growth (+$0.12), and timing of fuel expense, tax, and other items (+$0.07).
WEC Energy Group reported earnings of $0.76 per share for Q2 2025, a $0.09 increase compared to Q2 2024.
Capital spending came in below midpoint due to activity shifting and efficiency gains.
Cash flow per share was $3.51 and free cash flow was $392 million, both beating consensus estimates.
Debt reduced by $555 million since Montney acquisition; total debt at $5.3 billion at end of June, expected below $5 billion by year-end.
From 2021 to 2024, cash flow per share grew about 25% despite a 10% lower realized price in 2024 compared to 2021.
Ovintiv delivered another quarter of strong results, meeting or beating all guidance targets.
Production was above guidance ranges across all products, driven by Montney asset integration, Permian turn-in-line cadence, and ethane recovery shift in Anadarko.
Returned approximately $223 million to shareholders through share buybacks and base dividend.
Dafinchi