The company said it raised its expected liability for future payments to GIP related to the sale of South Fork Wind and Revolution Wind by about $285 million on September 30, 2024. It said the increase is expected to be recognized as a charge in Q3 2025.

1. 01

   The company said it raised its expected liability for future payments to GIP related to the sale of South Fork Wind and Revolution Wind by about $285 million on September 30, 2024. It said the increase is expected to be recognized as a charge in Q3 2025.

2. 02

   The company said the net result of the roughly $285 million liability increase, less a federal tax benefit of about $210 million, is an expected after-tax non-recurring charge of about $75 million ($0.20 per share) in Q3 2025.

3. 03

   The company said the revised cost projections from GIP include insurance costs, tariff impacts, construction cost increases from damage to the installation vessel, and costs tied to the BOEM stop-work order issued on August 22, 2025. It also said Revolution Wind is more than 80% complete and that completion is expected in the second half of 2026.

4. 04

   The company said it narrowed its full-year 2025 non-GAAP recurring EPS guidance range to $4.72 to $4.80 per share from its original range of $4.67 to $4.82. The release headline says the midpoint is higher.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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