What changed
Q2 adjusted EPS of $1.03 missed consensus by $0.03 (-2.8%). Revenue quality was steady, with utility earnings up on regulatory actions and higher retail sales, but weather impact was a $0.08 headwind vs. last year. The key driver was lower weather-related demand, partially offset by constructive rate outcomes and CWIP returns.
Why it matters
Q2 adjusted EPS of $1.03 missed consensus by $0.03 (-2.8%). Revenue quality was steady, with utility earnings up on regulatory actions and higher retail sales, but weather impact was a $0.08 headwind vs. last year. The key driver was lower weather-related demand, partially offset by constructive rate outcomes and CWIP returns.