Q2 2024 Earnings

Utilities Independent Power Producers

Income Statement

Revenue

$3.7B+15.6% YoY

Gross Profit

$967M26.2% margin

Operating Income

$617M16.7% margin

Net Income

$365M9.9% margin

EPS (Diluted)

$0.90

QoQ Revenue Growth

+32.0%

Cash Flow

Operating Cash Flow

$1.2B

Free Cash Flow

$698M

Stock-Based Comp.

$32M

Balance Sheet

Total Assets

$39.1B

Total Liabilities

$31.8B

Stockholders' Equity

$5.6B

Cash & Equivalents

$1.6B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$3.7B	$3.2B	+15.6%
Gross Profit	$967M	$934M	+3.5%
Operating Income	$617M	$640M	-3.6%
Net Income	$365M	$476M	-23.3%

Revenue Segments

Retail Energy Charge In ERCOT

$2.0B73%

Retail Energy Charge In Northeast/Midwest

$991M35%

Wholesale Generation Revenue From ERCOT

$281M10%

Revenue From Other Wholesale Contracts

$271M10%

Total Other Revenues

$246M9%

Hedging And Other Revenues

$245M9%

Capacity Revenue

$17M1%

Intangible Amortization

-$2M-0%

Affiliate Sales

-$1.3B-46%