The quarter was better on earnings but weaker on sales. Published estimates were about $1.35 of EPS, versus reported EPS of $1.43, an $0.08 beat; revenue was approximately $879 million versus roughly $909 million expected, a $30 million miss. The supplied Exhibit 99.1 does not provide a detailed quarterly income statement, so the filing itself does not explain the revenue shortfall or the source of the EPS outperformance.
| Metric | Fiscal 2026 result | Comparison |
|---|---|---|
| Diluted EPS, fiscal year to date | $7.33 (Fiscal Year Highlights) | $1.2 billion of net income (Fiscal Year Highlights) |
| Capital expenditures, fiscal year to date | $3.1 billion (Fiscal Year Highlights) | Over 85% focused on safety and reliability (Fiscal Year Highlights) |
| Annualized regulatory outcomes implemented | $355.0 million (Fiscal Year Highlights) | — |
| Fiscal 2026 EPS guidance | $8.40–$8.50 (Outlook) | Reaffirmed, not raised |
| Fiscal 2026 capital-expenditure guidance | Approximately $4.2 billion (Outlook) | Reaffirmed |
| Quarterly dividend | $1.00 per share (Outlook) | $4.00 indicated annual dividend; up 14.9% year over year (Outlook) |
Management gave investors no new upside to the outlook. Fiscal-year EPS guidance of $8.40–$8.50 and capital-spending guidance of approximately $4.2 billion were reaffirmed rather than increased (Outlook). That makes the EPS beat useful but limited: it improves the quarter's scorecard without changing the company's stated full-year earnings path.
The underlying investment story remains intact, but this filing adds only modest incremental information. Year-to-date spending, liquidity of $4.6 billion, 60% equity capitalization, and $355 million of annualized regulatory outcomes support the capital-investment and rate-recovery model (Fiscal Year Highlights). The dividend increase is constructive, but it was already part of the expected utility framework and does not offset the revenue miss or the absence of a guidance raise.
Net read: modestly better than expected, not a clean beat. The EPS outperformance and unchanged guidance outweigh the revenue miss slightly, but the filing does not show enough quarterly detail to establish whether the beat reflects durable operating improvement or timing and mix. The result therefore lands as a mild positive versus consensus rather than a decisive upgrade.
Read the original 8-K on SEC EDGAR ↗