The company said it recorded net income of $743.3 million ($4.93 per diluted share) for the 6 months ended March 31, 2024, compared with $629.5 million ($4.40) for the same period a year earlier. The company cited rate outcomes and lower bad debt expense as the main drivers of the 18% increase.

1. 01

   The company said it recorded net income of $743.3 million ($4.93 per diluted share) for the 6 months ended March 31, 2024, compared with $629.5 million ($4.40) for the same period a year earlier. The company cited rate outcomes and lower bad debt expense as the main drivers of the 18% increase.

2. 02

   The company said that ratemaking regulatory actions it implemented or received approval to implement during the first 6 months of the fiscal year resulted in a $165.4 million increase in annual operating income. It also said that, as of March 31, ratemaking efforts seeking a total increase in annual operating income of $178.8 million were in progress.

3. 03

   The company said capital expenditures for the 6 months were $1,415.5 million, and that about 81% of this was invested to improve the safety and reliability of its distribution and transportation systems. During the same period, it completed about $1.2 billion of long-term debt and equity financing. It said its equity capitalization was 60.9% as of March 31.

4. 04

   The company said operating cash flow for the 6 months was $991.9 million, down $1,900.8 million from $2,892.7 million in the same period a year earlier. It cited the absence of $2.02 billion received in Q2 of the prior year related to the Texas securitization as the main factor. As of March 31, it said total liquidity was approximately $4.2 billion.

Key figures

Quarter ended March 31, 2024

Revenue

$1.6B

Operating income

$551M

Net income

$432M

EPS

$2.85

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.