What drove Utilities this quarter
S&P 500 · Utilities sector · updated July 13, 2026 · rolling 90-day window
The utilities sector demonstrated robust performance in the first quarter of 2026, with 85% of companies beating earnings expectations. Key themes driving this growth include strong demand for electricity, significant capital investments, and strategic mergers and acquisitions. Entergy Corporation and NextEra Energy both reported impressive revenue growth, with Entergy achieving a 9% increase in retail sales and a 16% rise in industrial sales, while NextEra's proposed acquisition of Dominion Energy is expected to bolster its capacity to meet rising electricity demand. Furthermore, companies like Dominion Energy and Duke Energy highlighted ambitious capital plans, with Dominion's merger projected to yield a 9% annual EPS growth and Duke's tax credit monetization expected to provide substantial customer benefits.
Despite the overall positive sentiment, there were notable divergences within the sector. While companies like Sempra and Vistra Corp. reported strong earnings and maintained positive guidance, Exelon and NRG Energy faced challenges, with Exelon’s regulatory hurdles and NRG's declining earnings due to milder weather conditions impacting their performance. The sector's outlook remains optimistic, supported by ongoing investments in infrastructure and clean energy initiatives, although investors should remain vigilant regarding regulatory changes and execution risks that could influence future growth.
Utilities companies this quarter
The individual earnings calls behind this synthesis. Each links to the company's full transcript archive — free to read.
In the second quarter of fiscal year 2026, Entergy Corporation reported a robust revenue of $12.4 billion, surpassing estimates of $11.8 billion, driven by a 9% increase in retail sales and a significant 16% growth in industrial sales. The
In the Q1 2026 earnings call for NextEra Energy, management highlighted a significant shift in strategy, focusing on the proposed acquisition of Dominion Energy to meet rising electricity demand. Revenue for the quarter was not explicitly s…
Dominion Energy, Inc. (NEE:US) announced a significant merger with NextEra Energy during its earnings call on May 18, 2026. The merger is expected to create a company with an enterprise value of approximately $420 billion and a market cap o…
In the first quarter of 2026, Constellation Energy Corporation (CEG:US) reported GAAP earnings of $4.49 per share and adjusted operating earnings of $2.74 per share, exceeding last year's performance by $0.60. The company affirmed its full-…
In the first quarter of 2026, PPL Corporation reported GAAP earnings of $0.60 per share and ongoing earnings of $0.63 per share, reflecting a year-over-year improvement driven by higher base rate recovery and transmission revenues. The comp…
In the first quarter of fiscal year 2026, WEC Energy Group reported earnings of $2.45 per share, aligning with management's guidance range of $5.51 to $5.61 for the full year. The company also announced a significant $37.5 billion capital i…
In the first quarter of fiscal year 2026, Sempra reported GAAP earnings of $1.37 billion, or $1.58 per share, reflecting a significant increase from $906 million, or $1.39 per share, in the same period last year. Adjusted earnings were $991…
In the first quarter of 2026, Vistra Corp. reported a record adjusted EBITDA of approximately $1.5 billion, reflecting a 20% increase year-over-year. The strong performance was driven by effective management of their generation fleet amidst…
In the fiscal 2026 second quarter, Atmos Energy Corporation reported a net income of $985 million, translating to $5.92 per diluted share, which reflects a 12.5% increase year-over-year. The company raised its earnings per share guidance fo…
In the first quarter of 2026, Evergy, Inc. reported adjusted earnings of $0.69 per share, up from $0.55 in the prior year, driven by recovery of regulated investments and growth in weather-normalized demand. The company reaffirmed its 2026
In the first quarter of 2026, Eversource Energy reported GAAP earnings per share of $1.61, up from $1.50 in the prior year, despite a $0.12 charge related to the FERC ROE decision. Revenue and operational performance were strong, particular…
In the first quarter of 2026, NiSource Inc. reported consolidated adjusted EPS of $1.06, representing an 8% increase year-over-year and achieving 52% of the midpoint of its full-year guidance. The company reaffirmed its 2026 EPS guidance ra…
In the first quarter of 2026, Exelon Corporation reported adjusted operating earnings of $0.91 per share, slightly exceeding expectations, driven by favorable weather and timing-related items. Revenue guidance for the fiscal year remains un…
In the first quarter of 2026, Ameren Corporation reported earnings of $1.28 per share, exceeding the $1.07 per share from Q1 2025, driven by increased infrastructure investments. The company reaffirmed its full-year EPS guidance of $5.25 to…
In the first quarter of 2026, NRG Energy, Inc. reported adjusted EBITDA of $1.08 billion and adjusted EPS of $1.49, reflecting a year-over-year decline primarily due to milder weather conditions in Texas and increased supply costs. Despite
In Q1 2026, WEC Energy Group reported earnings of $2.45 per share, an increase of $0.18 year-over-year, driven by rate-based growth and operational efficiencies. The company reaffirmed its 2026 earnings guidance of $5.51 to $5.61 per share,…
In the first quarter of 2026, Public Service Enterprise Group (PSEG) reported net income of $1.48 per share and non-GAAP operating earnings of $1.55 per share, reflecting a solid start to the fiscal year. Revenue growth was driven by increa…
In the first quarter of 2026, Duke Energy reported adjusted earnings per share (EPS) of $1.93, exceeding the previous year's $1.76, driven by infrastructure investments and favorable weather. The company reaffirmed its full-year EPS guidanc…
In the first quarter of 2026, American Electric Power (AEP) reported operating earnings of $1.64 per share, exceeding the previous year's $1.54, and reaffirmed its full-year guidance of $6.15 to $6.45 per share. The company experienced sign…
In the first quarter of 2026, Pinnacle West Capital Corporation (PNW) reported earnings of $0.27 per share, a significant improvement from a loss of $0.04 per share in the same quarter last year. Revenue was bolstered by increased transmiss…
In the first quarter of 2026, Dominion Energy reported operating earnings of $0.95 per share, exceeding expectations, while GAAP earnings were $0.69 per share. The company reaffirmed its guidance for annual earnings growth at the midpoint o…
In the first quarter of 2026, Alliant Energy Corporation reported ongoing earnings of $0.82 per share, which is in line with expectations, and reaffirmed its full-year guidance for 2026. Revenue growth was driven by higher demand from data
In the first quarter of 2026, The Southern Company reported adjusted earnings per share (EPS) of $1.32, exceeding estimates by $0.12 and reflecting a year-over-year increase of $0.09. Revenue growth was driven by robust customer demand, par…
In the first quarter of 2026, Xcel Energy Inc. reported ongoing earnings of $0.91 per share, exceeding the previous year's $0.84 per share, driven by higher electric revenues and sales growth. The company reaffirmed its ongoing EPS guidance…
DTE Energy reported strong first-quarter results for 2026, with operating earnings of $407 million, translating to $1.95 per share, positioning the company well to achieve the high end of its guidance for the year. The results were driven b…
In the first quarter of 2026, American Water Works Company, Inc. (AWK) reported adjusted earnings of $1.01 per share, affirming its full-year EPS growth guidance of 8%. Revenues increased due to authorized rate hikes, and the company antici…
In the first quarter of 2026, Entergy Corporation reported adjusted earnings per share (EPS) of $0.86, reflecting a strong performance driven by 8.5% retail sales growth, particularly from industrial customers. The company announced a signi…
FirstEnergy Corp. reported strong first quarter results for 2026, with core earnings of $0.72 per share, reflecting a 7.5% increase year-over-year. The company reaffirmed its full-year earnings guidance of $2.62 to $2.82 per share, signalin…
In the first quarter of 2026, Edison International (EIX) reported core earnings per share (EPS) of $1.42, reflecting a $0.05 increase year-over-year, primarily driven by the adoption of last year's General Rate Case (GRC) decision. The comp…
In the first quarter of 2026, CMS Energy reported adjusted earnings per share (EPS) of $1.13, which is a positive variance compared to the previous year, largely driven by rate relief and higher performance from NorthStar. The company reaff…
In the first quarter of 2026, American Electric Power Company (AEP) reported operating earnings of $5.97, which exceeded full-year guidance, reflecting strong financial performance amid unprecedented demand. The company also highlighted a 2…
In the first quarter of 2026, PG&E Corporation (PCG:US) reported core earnings per share of $0.43, reflecting a $0.10 increase year-over-year and positioning the company for continued double-digit growth. The company reaffirmed its full-yea…
In the first quarter of 2026, NextEra Energy reported strong financial results, with adjusted earnings per share increasing by 10% year-over-year. Revenue growth was driven by robust performance in both Florida Power & Light (FPL) and Energ…
In Q1 2026, CenterPoint Energy reported a non-GAAP EPS of $0.56, exceeding expectations and signaling strong operational execution. Revenue growth was driven by a significant increase in committed load forecasts, particularly in Houston Ele…