Utilities Earnings Report — 2026-07-16 to 2026-08-30

25 most recent Utilities earnings

1. Aug 14, 2026, 7:30 AM ET·DGXX·Utilities

   Digi Power X Inc. — Second Quarter 2026 Earnings Summary

   DIGI POWER X INC

   Reported Q2 2026 revenue of $6.6 million and a net loss of $14.4 million, while generating positive Adjusted EBITDA of $3.3 million compared to $0.1 million in the prior-year period. Secured $1.1 billion in contracted AI data center future revenue (expandable to $2.5 billion) and targets an annualized revenue run-rate of $250–300 million by Q3 2027. Plans to expand GPU bare-metal capacity by 10 MW and add 40 MW of colocation capacity in 2027, with the Alabama Phase 1 data center expected online in December 2026. Maintains a debt-free balance sheet with $142.4 million in cash as of June 30, 2026, and is in advanced discussions with Goldman Sachs to syndicate financing for the Alabama project. First AI compute revenue of $1.1 million was generated from GPU bare-metal rental, with B300 infrastructure operating at 100% uptime since May 2026.

2. Aug 13, 2026, 7:09 AM ET·MWH·Utilities

   SOLV Energy — Second Quarter 2026 Earnings Summary

   SOLV ENERGY INC

   Revenue for Q2 2026 reached $951 million, up 77% year-over-year, while first-half revenue totaled $1.628 billion, a 72% increase year-over-year. Full-year 2026 guidance was raised across key metrics: revenue to $3.87–$3.97 billion, adjusted gross profit to $620–$660 million, and adjusted EBITDA to $485–$505 million. The company fully repaid all term debt as of June 30, 2026, reducing interest expense to $8.3 million for the first half from $26.8 million in the prior year. Strategic growth was bolstered by the July 1, 2026, acquisition of Roberson Waite Electric and a backlog of $8.9 billion, representing 44% year-over-year growth. First-half net income included $52 million in one-time non-cash compensation charges and an $11 million non-cash loss on debt extinguishment, while gross margin guidance was lowered to 16.0–16.6% due to a reclassification of annual compensation.

3. Aug 13, 2026, 6:04 AM ET·XE·Utilities

   X-energy — Second Quarter 2026 Earnings Summary

   X-ENERGY INC

   Total revenues and grant income surged 154% year-over-year to $54.6 million for Q2 2026, while operating expenses rose 156% to $164.6 million, resulting in a net loss of $59.1 million for the quarter. The company completed its IPO in April 2026, generating approximately $1.1 billion in net proceeds, which brought total liquidity to $1.9 billion and left the company with no outstanding debt as of June 30, 2026. Strategic milestones include securing long-term HALEU supply agreements with Centrus Energy and General Matter, investing up to $8 million with SGL Carbon to double European graphite capacity, and extending the ARDP budget period through March 2027. The project pipeline currently stands at 144 reactors across the U.S. and U.K. totaling 11.5 gigawatts electric, with vertical construction for the TX-1 fuel facility shell on schedule and interior build-out planned for Q3 2026.

4. Aug 12, 2026, 8:02 PM ET·GWRS·Utilities

   Global Water Resources — Q2 2026 Earnings Summary

   GLOBAL WATER RESOURCES INC

   Total revenue rose 24.8% year-over-year to $17.8 million and net income increased 70.4% to $2.7 million ($0.10 per diluted share), driven by the acquisition of seven Tucson water systems, organic connection growth, and higher rates. Adjusted EBITDA grew 14.6% to $7.9 million for the quarter, while net interest expense and depreciation, amortization, and accretion increased due to 2025 capital investments and new term loan borrowings. Management anticipates continued organic growth supported by Arizona's economic expansion, with new rates for GW-Santa Cruz requested for November 1, 2026, and future rate reviews planned for Pima County utilities in 2027. The company acquired seven water systems in July 2025, commissioned a new wastewater reclamation facility at GW-Hassayampa, and secured a $20 million revolving line of credit extension through May 2028. Cash and cash equivalents declined to $1.46 million from $4.08 million at year-end 2025, while long-term debt decreased slightly to $127.8 million; the company declared annualized dividends of $0.30396 per share.

5. Aug 12, 2026, 7:05 AM ET·FRVO·Utilities

   Fervo Energy — Second Quarter 2026 Earnings Summary

   FERVO ENERGY CO

   Q2 2026 revenues reached $113,000 (vs. $0 in Q2 2025), while operating and net losses widened to $28.7 million and $55.9 million respectively, driven by capital expenditures rising to $226.5 million from $108.0 million in the prior year. Raised long-term development target to 1.1 gigawatts by 2030 and expects $850.0–$900.0 million in capital expenditures for the second half of 2026, with GeoBlock 1 targeting first power in Q4 2026. Completed a May 2026 IPO raising approximately $2.2 billion and utilized proceeds from a $421 million project debt facility to repay all outstanding borrowings under XRL ALC, LLC loan agreements. Portfolio capacity potential exceeds 50 gigawatts across 650,000 acres, with Cape Station Phase I achieving mechanical completion on GeoBlocks 1 and 2 and Phase II incorporating the Fervo 3.0 well design.

6. Aug 11, 2026, 8:00 AM ET·IMSR·Utilities

   Terrestrial Energy — Second Quarter 2026 Earnings Summary

   TERRESTRIAL ENERGY INC

   Reported a net loss of $9.4 million for Q2 2026, an improvement from $10.5 million in Q1 2026, though the six-month loss widened to $19.9 million from $12.5 million in the prior year period; cash burn decreased to $6.4 million in Q2, down $1.5 million from Q1. Updated unit economics estimate cumulative lifetime revenue per plant at $2.7 billion (up from $2.1 billion) with a 33% blended gross margin, while advancing Project TETRA and Project TEFLA in partnership with the U.S. Department of Energy. Secured site control at the Texas A&M-RELLIS facility and executed a Memorandum of Understanding with Riot Platforms to co-locate IMSR plants with data centers, while the NRC approved the Postulated Initiating Events Topical Report. Ended the quarter with $283.4 million in cash and investments; total stockholders' equity declined to $281.7 million from $295.4 million at year-end, and the company appointed two new board members and an EVP of Engineering.

7. Aug 10, 2026, 5:26 PM ET·CWCO·Utilities

   Consolidated Water — Second Quarter 2026 Earnings Summary

   CONSOLIDATED WATER CO LTD

   Consolidated revenue declined 2% year-over-year to $32.9 million in Q2 2026 and 7% to $62.8 million for the first half of 2026, driven by a 49% drop in manufacturing revenue; net income from continuing operations fell to $4.0 million ($0.25 per share) in Q2 from $5.2 million ($0.32 per share) in the prior year period. Segment performance was mixed, with Bulk revenue up 20% and Services revenue up 1% (driven by an 89% surge in construction revenue), offset by a 27% decline in Services O&M revenue following the expiration of two PERC contracts and a 2% decline in Retail volume due to wetter weather. Management anticipates revenue and earnings growth in future periods supported by a very active Florida municipal market, a $10.1 million new order book for municipal equipment, and the expected start of construction on the $204 million Kalaeloa, Hawaii desalination project later in 2026. The company secured a 25-year exclusive utility license for Seven Mile Beach and West Bay in Grand Cayman, appointed a new senior vice president for strategy and growth, and maintained a strong balance sheet with cash and cash equivalents rising to $132.6 million.

8. Aug 10, 2026, 7:08 AM ET·OPAL·Utilities

   OPAL Fuels — Second Quarter 2026 Earnings Summary

   OPAL FUELS INC

   Adjusted EBITDA rose 40% to $23.1 million for the quarter and 9% to $39.8 million for the six months, while revenue increased 4% to $83.4 million for the quarter but declined 5% to $156.8 million for the six months; the company reported a net loss of $4.1 million for the quarter and $9.7 million for the six months. The company maintains its full-year 2026 guidance, with management citing progress on track to meet annual targets driven by 45Z tax credit contributions, Fuel Station Services growth, and G&A savings. Liquidity strengthened to $162.3 million as of June 30, 2026, with cash and cash equivalents increasing to $91.4 million, while stockholders' equity turned positive to $26.4 million from a deficit of $12.9 million at year-end 2025. Strategic capital deployment included $52.7 million in capital expenditures for the six months and a $100 million Master Agreement in April 2026 to monetize Section 45Z Production Tax Credits, alongside the advancement of new RNG facility construction.

9. Aug 7, 2026, 4:06 PM ET·HE·Utilities

   Hawaiian Electric Industries — Second Quarter 2026 Earnings Summary

   HAWAIIAN ELECTRIC INDUSTRIES INC

   Consolidated GAAP net income surged to $123 million ($0.71/share) from $26 million ($0.15/share) in Q2 2025, driven by a $101 million after-tax non-cash gain from remeasuring the Maui wildfire settlement liability; consolidated revenues rose to $939.7 million from $746.4 million year-over-year. Core earnings declined, with consolidated core net income falling to $22 million ($0.13/share) from $35 million ($0.20/share) in Q2 2025, while Hawaiian Electric core net income dropped to $33 million from $42 million, reflecting higher fuel oil and purchased power expenses. Management expects 2026 adjusted O&M excluding pension to significantly outpace inflation due to higher insurance premiums, storm response, and labor costs, with proposed rate rebasing intended to address these headwinds. Strategic initiatives include a PUC-submitted solicitation for nearly 1,650 GWh of variable renewable energy, full PUC approval of Wildfire Mitigation Plan costs for securitization, and an ongoing strategic review of Pacific Current. S&P upgraded credit ratings acknowledging WMP progress, which is expected to lower borrowing costs, though future interest accretion will offset the current quarter's non-cash wildfire settlement benefit.

10. Aug 7, 2026, 10:40 AM ET·ARTNA·Utilities

    Artesian Resources Corporation — Q2 2026 Earnings Summary

    ARTESIAN RESOURCES CORP

    Q2 2026 diluted net income per share rose 4.9% to $0.64 and total revenues increased 7.4% to $30.7 million year-over-year; year-to-date diluted EPS grew 6.1% to $1.21 with revenues up 7.4% to $58.4 million. Revenue growth was driven by temporary Delaware rate increases, a 6.6% rise in wastewater customers, and higher fees for Service Line Protection Plans, while operating expenses increased 7.6% in Q2 and 6.6% year-to-date. The company invested $25.9 million in capital expenditures during the first six months of 2026 to fund infrastructure projects including PFAS treatment upgrades, new wastewater plants, and system resiliency improvements. Permanent water rates remain pending with the Delaware Public Service Commission, and the company is currently filing for recovery of plant investments and increased operating costs.

11. Aug 7, 2026, 7:50 AM ET·PPL·Utilities

    PPL Corporation — Second Quarter 2026 Earnings Summary

    PPL CORP

    Reported GAAP earnings rose 26% year-over-year to $230 million ($0.30/share) in Q2 2026, while non-GAAP earnings from ongoing operations increased 3% to $247 million ($0.33/share); year-to-date reported earnings grew 14% to $682 million ($0.90/share). The company reaffirmed its 2026 ongoing earnings guidance of $1.90 to $1.98 per share and its 6% to 8% annual EPS growth target through 2029, anticipating stronger growth in the second half of 2026 and beyond. Significant capital deployment occurred in the first half of 2026, with net cash used in investing activities reaching $2.407 billion and long-term debt increasing to $19.789 billion, while common stock dividends totaled $416 million. Strategic growth is driven by a robust data center pipeline (31.8 GW in PA, 13.7 GW in KY) and Invitium Energy securing over 5 GW of interconnection requests, though Invitium contributions are not expected to be material to PPL earnings through 2030. Segment performance was mixed due to higher operating costs, depreciation, and interest expenses, with Kentucky Regulated reporting growth while Pennsylvania Regulated saw declines in both reported and ongoing earnings per share.

12. Aug 7, 2026, 7:00 AM ET·VST·Utilities

    Vistra — Second Quarter 2026 Earnings Summary

    VISTRA CORP

    Ongoing Operations Adjusted EBITDA rose 30% year-over-year to $1.767 billion in Q2 2026, while GAAP net income declined to $305 million due to $488 million in unrealized mark-to-market derivative losses. Management reaffirmed 2026 guidance ranges of $6.8–$7.6 billion for Ongoing Operations Adjusted EBITDA and $3.925–$4.725 billion for Adjusted Free Cash Flow before Growth, supported by a hedging program covering 100% of 2026 generation volumes. The company announced the formation of Helix Digital Infrastructure with KKR, KIA, and NVIDIA, committing up to $1.0 billion, and received FERC approval for the pending Cogentrix Energy acquisition. Capital allocation included $6.5 billion in share repurchases since November 2021 (with $1.2 billion authorization remaining) and $154 million in common stock dividends paid during the first half of 2026.

13. Aug 6, 2026, 4:49 PM ET·CPK·Utilities

    Chesapeake Utilities Corporation — Second Quarter 2026 Earnings Summary

    CHESAPEAKE UTILITIES CORP

    Second quarter net income rose to $25.4 million ($1.05 diluted EPS) from $23.9 million ($1.02 diluted EPS) in 2025, while year-to-date net income reached $84.7 million ($3.51 diluted EPS) compared to $74.8 million ($3.22 diluted EPS) in 2025. The company increased its 2026 capital expenditure guidance range to $550–$600 million (up $100 million) and reaffirmed 2028 earnings guidance of $7.75–$8.00 per share, with total investment expected to exceed $2.2 billion through 2028. Announced the $1.2 billion Florida Energy Pathway (FEP) pipeline project targeting 2030 in-service, supported by a $650 million increase in revolving credit facility capacity and ongoing partner discussions. Adjusted gross margin grew 9.6% year-to-date to $31.2 million, driven by transmission expansions, regulatory initiatives, and organic growth, while total operating revenues for the quarter reached $201.9 million.

14. Aug 6, 2026, 9:32 AM ET·YORW·Utilities

    The York Water Company — Second Quarter 2026 Earnings Summary

    YORK WATER CO

    Second quarter 2026 operating revenues rose 22.5% to $23.515 million and net income increased to $7.615 million, while year-to-date revenues grew 15.8% to $43.589 million and net income reached $12.429 million, driven by rate increases and customer growth. Earnings per share for the quarter and first six months increased to $0.49 and $0.82 respectively, up from $0.35 and $0.60 in the prior year periods. The company acquired two wastewater systems for $470,000 in the first half of 2026 and estimates an additional $26.8 million in capital investments for the full year focused on infrastructure and software upgrades. Dividends per common share were raised to $0.2280 for the second quarter and $0.4560 for the first six months of 2026.

15. Aug 6, 2026, 8:35 AM ET·UGI·Utilities

    UGI Corporation — Third Quarter 2026 Earnings Summary

    UGI CORP

    Q3 GAAP diluted EPS improved to $(0.62) from $(0.76) YoY, while adjusted diluted EPS widened to $(0.20) from $(0.01); total revenues declined 4% YoY to $1,331 million. Management reaffirmed fiscal 2026 adjusted diluted EPS guidance of $2.75 to $2.90, citing rising natural gas demand from data centers and power generation. The PA gas rate case settlement was accepted by Administrative Law Judges, authorizing a two-phase $65 million rate increase effective October 2026 and October 2027. Completed debt transactions to extend maturities and reduce annual borrowing costs by approximately $30 million across UGI International, AmeriGas Propane, and UGI Energy Services. AmeriGas Propane reported a Q3 EBIT loss of $53 million versus $28 million YoY due to a 14% revenue decline, though management notes improving volume retention and safety metrics.

16. Aug 6, 2026, 7:56 AM ET·SPH·Utilities

    Suburban Propane Partners, L.P. — Third Quarter 2026 Earnings Summary

    SUBURBAN PROPANE PARTNERS LP

    Reported a net loss of $17.5 million ($0.26 per unit) and adjusted EBITDA of $18.0 million, both declining year-over-year from $14.8 million and $27.0 million respectively, while total revenues rose slightly to $261.4 million. Total gross margin remained flat at $160.3 million despite a 1.8% decline in retail propane gallons sold, as higher average propane prices (+3.6%) and counter-seasonal customer growth offset warmer weather impacts. The Board declared a quarterly distribution of $0.325 per unit ($1.30 annualized); the company utilized excess cash flows and $6.6 million in ATM proceeds to repay $36.2 million in revolving credit borrowings. Management expects all three renewable natural gas (RNG) facilities to be operational by fiscal year 2027, with the Columbus, Ohio facility coming online in Q4, alongside a new Upstate New York digester placed in service post-quarter. Combined operating and administrative expenses increased 3.8% year-over-year to $141.4 million, driven by higher payroll and fuel costs, while the consolidated leverage ratio rose marginally to 4.35x.

17. Aug 6, 2026, 7:30 AM ET·GNE·Utilities

    Genie Energy — Second Quarter 2026 Earnings Summary

    GENIE ENERGY LTD

    Consolidated revenue decreased 4.6% year-over-year to $100.4 million, while net income and diluted EPS surged to $11.4 million and $0.43, respectively, driven by a gross margin expansion to 33.5% from 22.3%. Full-year 2026 Adjusted EBITDA guidance remains unchanged at $32.5 million to $40 million, with management expecting continued bottom-line growth from high-value customer acquisitions and expanding contributions from Diversegy and Genie Solar. The company returned capital to shareholders via a declared $0.075 quarterly dividend and the repurchase of approximately 48,000 Class B shares for $659,000, supported by a cash and marketable securities balance of $204.3 million. Operating cash flow net use narrowed to $9.9 million for the first half of 2026 compared to $16.5 million in the prior year, though customer churn rose to 5.9% as low-margin aggregation deals expired.

18. Aug 6, 2026, 7:00 AM ET·EVRG·Utilities

    Evergy — Second Quarter 2026 Earnings Summary

    EVERGY INC

    Second quarter 2026 GAAP net income rose to $215.0 million ($0.91/share) from $171.3 million ($0.74/share) in 2025, while adjusted earnings increased to $208.5 million ($0.88/share) from $191.1 million ($0.82/share), driven by regulated investment recovery and higher large customer revenues. The company reaffirmed its 2026 adjusted EPS guidance range of $4.14 to $4.34 and its long-term annual growth target of 6% to 8%+ through 2030, with expectations to exceed 8% growth beginning in 2028. Strong demand persists among large customers in Kansas and Missouri, with management targeting at least one additional electric service agreement execution in 2026. The Board declared a quarterly dividend of $0.6950 per share; meanwhile, the company continues disposing of non-regulated clean energy investments and previously incurred a $10.3 million loss from convertible note repurchases in the first quarter.

19. Aug 5, 2026, 5:13 PM ET·ORA·Utilities

    Ormat Technologies — Second Quarter 2026 Earnings Summary

    ORMAT TECHNOLOGIES INC

    Total revenues rose 10.6% YoY to $258.8 million in Q2 2026, driven by 195.1% growth in Energy Storage and 42.9% H1 revenue growth to $662.7 million, though Product segment revenue fell 21.6% in the quarter due to project timing. Full-year 2026 guidance was raised to $1,150–$1,200 million for total revenue and $630–$650 million for Adjusted EBITDA, reflecting confidence in long-term growth despite a $6.6 million write-off of unprosecuted storage projects impacting GAAP net income. The company's balance sheet strengthened with cash and equivalents reaching $513.7 million, while total debt increased to $2.08 billion following the issuance of convertible senior notes; a quarterly dividend of $0.12 per share was declared. Strategic progress includes the commercial operation of the Dominica geothermal plant, the decision to develop the 100 MW Denali energy storage facility, and advanced pilot programs for Enhanced Geothermal Systems (EGS) with SLB and Sage Geosystems.

20. Aug 5, 2026, 4:47 PM ET·ATO·Utilities

    Atmos Energy Corporation — Fiscal 2026 Third Quarter Earnings Summary

    ATMOS ENERGY CORP

    Reported Q3 diluted EPS of $7.33 and net income of $1.2 billion, with $355.0 million in annualized regulatory outcomes and $3.1 billion in capital expenditures (over 85% for safety/reliability). Reaffirmed fiscal 2026 EPS guidance of $8.40 to $8.50 and expects full-year capital expenditures of approximately $4.2 billion. Declared a quarterly dividend of $1.00 per share, establishing an indicated annual dividend of $4.00 for fiscal 2026, a 14.9% increase over fiscal 2025. Maintained a 60% equity capitalization profile with $4.6 billion in available liquidity while serving 3.4 million customers across eight states.

21. Aug 5, 2026, 4:42 PM ET·RGCO·Utilities

    RGC Resources, Inc. — Third Quarter 2026 Earnings Summary

    RGC RESOURCES INC

    Consolidated net income for Q3 2026 rose to $559,000 ($0.05/share) from $538,000 ($0.05/share) in the prior year period, while nine-month net income increased 5.2% to $14.2 million ($1.37/share) from $13.5 million ($1.31/share). Operating revenues declined slightly to $17.1 million in the quarter but grew to $92.8 million for the nine-month period compared to $81.0 million; operating expenses rose to $15.9 million for the quarter and $73.8 million year-to-date. Cash dividends increased to $0.2175 per share for the quarter and $0.6525 year-to-date, up from $0.2075 and $0.6225 respectively in the prior year. Total assets grew to $339.7 million and long-term debt increased to $145.6 million as of June 30, 2026, driven by improved margins from higher base rates and SAVE investment, partially offset by inflation and the loss of an industrial customer.

22. Aug 5, 2026, 4:35 PM ET·MNTK·Utilities

    Montauk Renewables — Second Quarter 2026 Earnings Summary

    MONTAUK RENEWABLES INC

    Total revenues reached $54.0 million, up 19.7% year-over-year, while net income turned positive at $0.2 million compared to a $5.5 million loss in Q2 2025; Non-GAAP Adjusted EBITDA surged 144.5% to $12.3 million. Full-year 2026 guidance remains intact with RNG revenues projected between $175 million and $190 million and REG revenues between $23 million and $26 million, despite a shift from fixed-price commodity contracts to RIN-driven revenue. The GreenWave joint venture contributed $3.8 million in income, and feedstock collection agreements now cover over 50 farming locations, though RNG commodity revenue fell 63.7% due to contract expirations. Capital expenditures totaled $55.6 million for the first half of 2026, and total debt increased to $149.6 million, while the Turkey, North Carolina facility began power generation in July 2026.

23. Aug 5, 2026, 4:29 PM ET·BKH·Utilities

    Black Hills Corp. — Second Quarter 2026 Earnings Summary

    BLACK HILLS CORP

    GAAP net income and diluted EPS rose 39% and 32% respectively to $38.2 million and $0.50 in Q2 2026, while adjusted earnings and EPS increased 51% and 42% to $41.5 million and $0.54; year-to-date adjusted EPS was $2.33 versus $2.24 in 2025. The company reaffirmed 2026 adjusted earnings guidance of $4.25 to $4.45 per share (excluding merger costs) and expects to close its all-stock merger with NorthWestern Energy by year-end 2026 pending Montana PSC approval. Strategic progress includes $377 million in refundable advances for a 1.8 GW Wyoming data center project, a 99-MW Lange II generation facility expected online by year-end 2026, and a 3 GW large-load demand pipeline in Wyoming. Corporate and Other operating losses widened due to merger-related costs, while Electric and Gas Utilities operating income grew driven by new rates and rider recoveries; the board approved a quarterly dividend of $0.703 per share.

24. Aug 5, 2026, 4:25 PM ET·AWR·Utilities

    American States Water Company — Second Quarter 2026 Earnings Summary

    AMERICAN STATES WATER CO

    Consolidated diluted EPS rose 25.3% to $1.09 for Q2 2026 (vs. $0.87 in 2025), driven by CPUC-approved rate increases and higher water consumption; total operating revenues increased 11.2% to $181.29 million. Full-year 2026 guidance remains intact with regulated utilities targeting $185–$220 million in capital investments and contracted services expected to contribute $0.63–$0.67 per share. AWR completed its $200 million ATM offering in June 2026, raising $200 million in gross proceeds, and announced an 8.2% dividend increase to $0.5455 per share for Q3. Future water utility earnings face volatility risks due to consumption fluctuations and supply mix changes under the modified revenue decoupling mechanism effective January 1, 2025. The company affirmed its long-term dividend growth policy, targeting a CAGR of more than 7%, having increased dividends for 72 consecutive years with a 5-year CAGR of 8.4%.

25. Aug 5, 2026, 4:08 PM ET·FLNC·Utilities

    Fluence Energy, Inc. — Third Fiscal Quarter 2026 Earnings Summary

    FLUENCE ENERGY INC

    Revenue rose 7.9% year-over-year to $649.8 million, while GAAP gross margin contracted to 5.1% from 14.8% and net loss widened to $44.3 million from a $6.9 million profit in the prior year period. Fiscal 2026 guidance was lowered to $2.9–$3.1 billion in revenue and $(30.0) million to $10.0 million in Adjusted EBITDA, reflecting approximately $400 million in project delivery delays into fiscal 2027 due to manufacturing and construction issues. Order intake surged to over $1.44 billion (nearly triple prior year) and backlog reached a record $6.4 billion, driven by $850 million in secured data center business and strong demand across utilities and hyperscalers. Liquidity remains robust at $863 million, including $365 million in cash, while deferred revenue grew to $956.5 million; management expects targeted production levels to be achieved early in fiscal 2027.