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Analyst
Carly Davenport
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters).
- Questions
- 175on tracked calls
- Challenge rate
- 1%1 of 175 questions
- Companies
- 17questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 175 of 175 questions from 17 companies
ESEversource Energy14 questions · 7 reporting periods · 0 of 14 challenging
Calendar 2026 Q2
what are the next milestones that we should watch there to derisk that potential investment
Show response
Joe pointed to a final ISO recommendation in September and the Q3 call for updates; John added roughly half the ~$700M CapEx would fall in the current forecast window.
on the incremental revolution charge this quarter, can you just expand a bit on the kind of drivers that, I guess, were unknown relative to last quarter
Show response
Joe attributed the charge to two stop-work orders forcing a vessel remobilization, said the project is nearly complete with an in-service date of 2026, and downplayed remaining risk.
Calendar 2026 Q1
Could you provide your latest thoughts on the potential for further appeals to be filed in that process and your temperature on this progressing to close?
Show response
Nolan expressed confidence in PURA's clear decision and noted that while they remain watchful, the company is not under pressure to close.
on the 205 filing, you mentioned potential to reach settlement there. Could you talk about what that timing could look like
Show response
Moreira provided clear timeline: FERC has 60 days to respond, then settlement judge appointed. Expects new rate implemented by end of year.
Calendar 2025 Q4
could you just dive in a little bit more on what could potentially make sense from a minority interest sale standpoint
Show response
Moreira described looking at traditional equity and pseudo-equity interest. Nolan clarified it is more a minority interest capital structure deal than a true minority equity sale in a business line. Not looking to execute immediately, described as a tool in the toolkit.
you are still highlighting a billion dollars of upside to the new capital plan tied to Connecticut AMI
Show response
Nolan said meeting with PURA on AMI next week seeking prudence standard waiver. Will not invest without comfortable recovery mechanism. Over 100,000 meters installed in Massachusetts. Moreira noted the $1B figure is a stale placeholder and team is updating cost estimate.
Calendar 2025 Q3
I know you guys have talked previously about kind of timing to file another rate case at CL&P
Show response
Nolan said no rate case planned before 2026. A filing would require test year preparation and would not happen until at least Q2 or Q3 2026 if they proceed.
are there any updates you can share from conversations with credit agencies in terms of their views, just given the focus on the regulatory environment
Show response
Moreira said credit agencies are in wait-and-see mode wanting to see constructive PURA outcomes. Believes new commission focused on working collaboratively with utilities.
Calendar 2025 Q2
can you walk us through kind of the confidence levels in hitting that 14% level by the end of the year and some of those drivers in addition to the asset sales
Show response
Moreira expressed high confidence in reaching 13% handle with Aquarion closing contributing approximately 100 basis points. Already recovered $900M from July 2024 rates. Additional storm cost and regulatory asset recoveries in other jurisdictions ongoing.
could you talk a little bit about how that potentially could impact the longer-term FFO to debt levels? And then just from a logistics perspective, how should we think about the timing
Show response
Moreira noted $1.2B equity need unchanged for now but securitization could impact financing in February refresh. Filed additional $171M storm costs bringing PURA total to ~$1B. Prudency review schedule extends through March 2026. Securitization cash now expected 2027, pushed from prior 2026 target.
Calendar 2025 Q1
conversations, in particular with Moody's, in terms of what they need to see to sort of shift from the negative watch
Show response
Moreira noted regulatory cost recoveries alone should generate 300 basis points of FFO-to-debt improvement. Meeting with all three agencies next month.
could you provide your latest thoughts just around some of the noise on the forward composition of PURA just in terms of filling those other two seats
Show response
Nolan remained indifferent on three vs five commissioners. Cannot predict timeline but eager for stable regulatory climate.
Calendar 2024 Q4
would you expect that to be put a new ATM program in place as you kind of work through the initial $1.3 billion
Show response
Moreira strongly endorsed the ATM approach, indicating they will continue using it for future equity needs.
how should we think about the potential timing of some of those buckets coming into play here
Show response
Moreira noted Connecticut AMI is the largest component, awaiting PURA reconsideration. Remainder expected to have transparency in 12-18 months.
FEFirstEnergy14 questions · 7 reporting periods · 0 of 14 challenging
Calendar 2026 Q2
any visibility or sort of guardrails you could put around the magnitude of proposals that you might put forth
Show response
Declined to size the current submission, pointing instead to the $5 billion won in prior open windows as a track record.
how do you sort of characterize your confidence there on getting those approvals across the finish line
Show response
Direct answer addressing the coal opposition and expressing confidence in a positive near-term CPCN order.
Calendar 2026 Q1
I know you guys have been considering kind of the right timing to potentially file another rate case there
Show response
Tierney committed to no-surprises approach with Governor, BPU and stakeholders. Will come in at right time balancing investment needs with affordability.
any impacts that you're looking out for from the Omnibus bill that was recently passed in Maryland
Show response
Taylor acknowledged legislation is new and still being evaluated; historically used historical test year in Maryland but working through other components.
Calendar 2025 Q4
what portion of the near-term spend, so say 2026 to 2028, is is tied to projects with right of way or siting and permitting that are in advanced stages
Show response
Taylor emphasized very high confidence in near-term plan; resilient portfolio allows project substitution if individual projects are delayed.
Is there anything specific that you can provide on a sort of percent bill inflation target
Show response
Taylor committed to keeping bill increases below inflation, maintaining modest share of wallet across customer segments.
Calendar 2025 Q3
can you talk a little bit about kind of what's giving you the confidence to do that? And ultimately, if we should be thinking about that as a floor
Show response
Tierney broke down 30% into 60% reliability/aging infrastructure and 40% regulatory required; expects number to be very close to 30%.
are you able to share how much of what is contracted is under an ESA versus another type of contractual agreement
Show response
Tierney explained ESAs come last but contracted customers have facility construction commitments and credit support in place.
Calendar 2025 Q2
Just curious if you can flesh out what is driving that upside versus the plan? And then curious if you'd revisit the guidance range as we get through 3Q
Show response
Taylor attributed upside to O&M discipline, said they'll look at adjusting guidance range at Q3 if warranted.
Could you just talk a little bit about what's embedded in that 20% opportunity that you've highlighted? Is that just the PJM open window
Show response
Tierney identified three components: open window awards, data center interconnection CapEx, and additional organic needs.
Calendar 2025 Q1
is there anything that you're seeing or hearing from your industrial customers in particular that you think could pose potential risk
Show response
Tierney acknowledged steel slowdown but noted industrial is small margin portion; no significant near-term income impact expected.
Can you just talk a little bit about what's driving that to give you confidence this point in the year to sort of target the top end of the range
Show response
Taylor cited O&M discipline as the primary lever, with teams actively driving below-plan costs for flexibility.
Calendar 2024 Q4
You highlighted the actual '24 FFO to debt at 12.5%. I recognize there's some more onetime items in there. Can you just talk about the path to getting that back towards the 14% target
Show response
Taylor explained stripping out one-time payments gets close to 14%, and PA rate case cash flow brings plan slightly above 14% sustainably.
For the projects that were selected by PJM yesterday as part of the JV or you're part of with Dominion and AEP, are there any assumptions on those projects that are reflected in the current plan
Show response
Tierney quantified FE's share at $675M; Taylor clarified the JV portion is off-balance sheet while FE-owned CapEx is in plan.
SOSouthern Company14 questions · 7 reporting periods · 0 of 14 challenging
Calendar 2026 Q2
Did those filings already contemplate some of the progression in the load pipeline that you have seen
Show response
Poroch confirmed the RFPs are baked in and stated plainly that none of the open Alabama or Georgia RFPs sit in the capital forecast.
you have talked in the past about the potential for upside on the capital plan related to FERC pipeline investments.
Show response
Poroch and Womack affirmed expanded pipeline opportunity qualitatively but gave no timing, size or capital figure.
Calendar 2026 Q1
Could you provide your latest thoughts on the setup in terms of the focus areas of the candidates you have heard thus far
Show response
CEO acknowledged campaign debate around data centers and rates but expressed confidence in maintaining constructive regulatory environment regardless of election outcomes, citing 100+ year history.
Any sense you could give us on timing in evaluating that opportunity? Is that the extent of the upgrade opportunity you see on the gas fleet at Southern Power?
Show response
CFO said the 400MW + 300MW covers full fleet upgrade potential, with evaluation over next year or so. CEO noted construction begins this year in 2026.
Calendar 2025 Q4
could you just provide your views on how much [ do ] you think some of those pieces of legislation have and if it's kind of coming up in any of your conversations with prospective customers
Show response
Womack said momentum continues with projects advancing and pipeline growing. Emphasized the need to tell the story of customer benefits from large load pricing and community investment by data center partners.
Could you talk just a little bit about demand for those types of solutions that you're seeing in your conversations and maybe what you think the duration of that opportunity set could be
Show response
Womack said bridge solutions serve both near-term temporary power needs and longer-term resiliency, with continued opportunities in the market from both conversations and broader sector demand.
Calendar 2025 Q3
How are you thinking about potential impacts from the PSC election and those processes as you think about the longer-term plan
Show response
Womack emphasized long history of constructive engagement with all PSC commissioners regardless of who holds the seats. Elections set for next Tuesday. December 19 ruling expected on generation certification.
can you talk a little bit about the reception from customers to the new structure and also how you approach the minimum bill components
Show response
Poroch said customers understand the framework. Rules helped bring more credit-quality counterparties forward. Minimum bills cover all costs whether or not the meter spins.
Calendar 2025 Q2
Just any shift potentially in the time line as we think about the rebasing in '27 or the views on the long-term growth rate there
Show response
Poroch confirmed normal Q4 annual update cadence. Increasingly encouraged by momentum but sticking to sustainability assessment before rebasing within 5-7%.
Can you just refresh us on your procurement status in terms of turbines and also gas supply for those units to come into service
Show response
Womack confirmed they have turbine reservations paid, strong OEM and EPC relationships, and feel well-positioned to execute on new generation resources.
Calendar 2025 Q1
Just any update you can provide in terms of size of the pipeline, what's contracted, what's broken ground similar to the disclosures
Show response
Tucker disclosed Georgia pipeline at 52GW, 4GW contracted, 8GW committed. Near-term 2028-2029 pipeline interest is shifting forward. Womack confirmed no change in tone from hyperscaler customers.
the $0.85 represents fairly sizable downside relative to what you guys said last 2Q and 2024. Could you just talk a little bit about the puts and takes
Show response
Tucker cited two factors: year-over-year weather differential and timing of Georgia transmission asset transfer transactions that occurred in Q2 2024 but are not expected in Q2 2025.
Calendar 2024 Q4
Could you just flesh out your comments a bit more there just in terms of where you could trend in that 5% to 7% range
Show response
Dan Tucker confirmed they are solidly within range and potentially sustainably near the top, with possible rebase of 5-7% growth from a higher starting point as early as 2027.
Could you talk a little bit about how we should think about the split between sort of what's at Georgia Power
Show response
Tucker clarified the bulk is Georgia Power with some pipeline investment. Up to $14B disclosed in 10-K for Georgia Power, with 13GW of outstanding RFPs requiring new builds given tighter excess capacity.
XELXcel Energy14 questions · 7 reporting periods · 0 of 14 challenging
Calendar 2026 Q2
Just curious as you think about the path to final approval, how you'd characterize your confidence level there
Show response
Van Abel expressed hope rather than confidence, describing the give and take of settlement negotiation without characterizing specific intervention risk in any jurisdiction.
Just any read-through to where you'd expect to fall within the guidance range this year based on those changes?
Show response
Van Abel walked through each assumption change, identified the depreciation revision as earnings neutral and rider revenue as offset by AFUDC, then pointed to the usual Q3 tightening.
Calendar 2026 Q1
as we move more sort of into the core of wildfire season in Colorado over the next couple of months here, maybe can you just talk a little bit about sort of expectations
Show response
CEO acknowledged low snowpack and drier conditions but expressed confidence in operational, situational awareness, and community engagement improvements.
I think the PUC Sunset Bill came out of committee last week. Just maybe your latest views there on some of the provisions around securitization
Show response
CEO provided thorough overview of securitization as a tool, noting prior uses (Comanche 3, wildfire investment) and engagement in the legislation.
Calendar 2025 Q4
Could you talk a little bit more about the roles that each of you will play in developing these data center projects
Show response
MOU stage with terms largely agreed; combining sales/development/analytical teams for speed; not exclusive but expected to drive significant volume; not fuel-type limited.
there are a number of elections across your states this year. Any early views in particular on Minnesota and Colorado
Show response
Colorado governor race crowded but energy policy central; Minnesota rate case decision expected mid-2026 with potential settlement; affordability proposal in Colorado targeting 2.5% energy burden.
Calendar 2025 Q3
a couple of the other opcos shifting a bit lower from the prior plan. So could you just talk a little bit about what's driving those
Show response
SPS at 8% growth from oil/gas; other opcos at ~4-5%. Timing shifts on data centers across states but overall 5% CAGR with diversified sources.
can you just talk about sort of comfort level there with the cushion versus downgrade threshold levels
Show response
Long-term 17% FFO/debt target unchanged; elevated CapEx creates near-term pressure but equity plan designed to recover by end of forecast.
Calendar 2025 Q2
how should we be thinking about the potential conversion of that upside into the base capital plan next quarter
Show response
Management noted SPS RFP early in process; conservative regulatory approach; comprehensive Q3 update planned.
could you remind us on your turbine procurement position just as we think about executing on the gas generation
Show response
19 gas turbine reservations secured; SPS needs 9 of 19. Well positioned on both OEM and EPC side.
Calendar 2025 Q1
could you just talk a little bit about the process or the timeline over which you'd expect to have those discussions with vendors
Show response
Vendor discussions already in progress; signed agreement with nine suppliers for power transformers (five domestic, four global).
just curious if there's anything else that you see at this point that could pose risk to that number continuing to move higher
Show response
Settled 151 of 225 claims and 5 of 25 lawsuits; liability at $290M remains well below $500M insurance coverage.
Calendar 2024 Q4
How are you guys thinking about the prospects to reach a settlement in those proceedings
Show response
Management hopeful for Texas settlement following peer precedent; Colorado settlement deadline in mid-April.
is that something where we should expect to see any sort of announcements around those transactions
Show response
Management indicated announcements will depend on counterparty preferences and local economic development teams.
AEEAmeren13 questions · 7 reporting periods · 0 of 13 challenging
Calendar 2026 Q2
you highlighted, in the materials, the potential to update the EPS growth guidance on the third quarter call.
Show response
Marty declined to front-run the Q3 update but said sales and CapEx trends lean positive; the September IRP will drive the revised five- and ten-year outlook.
Calendar 2026 Q1
Can you talk a little bit about the key considerations that you are evaluating on whether or not you will put forth a bid on the remaining two competitive projects
Show response
Management highlighted strengths in planning, design, project management and construction, noting transmission investment has upside from large-load interconnections beyond the base plan.
what are your thoughts on the adjustments proposed related to the infrastructure investments? Do you see any scope for some movement on that side
Show response
Andrew Kirk clarified the reconciliation adjustments are routine truing up of rate base and related items, nothing unusual about the process.
Calendar 2025 Q4
Any sense how much of the equity you could look to satisfy with the hybrids?
Show response
Moehn declined to specify hybrid amounts, confirmed ATM remains the primary method, and noted 2026 equity needs are already fulfilled via forward sales.
I think there have been some bills introduced, around data centers and other. So just curious if you have any early thoughts
Show response
Moehn cited solar setback and local taxing authority bills as key topics. Emphasized SB4 implementation as the main focus, including future test year rulemaking for gas and water.
Calendar 2025 Q3
is there anything you can share on that delta just in terms of how many customers that change is attributed to?
Show response
Lyons disclosed ramp now starts 2027 not late 2026. Delta is approximately one additional site. Pipeline includes 36 GW across both states, 80-90% data centers.
with the Omnibus Energy bill passing over the last couple of weeks here. Just kind of curious your early views on any sort of implications
Show response
Lyons highlighted three items: first IRP since 1997, energy storage procurement authority, and doubled energy efficiency investment to ~$250M/yr with incentive-based ROE structure.
Calendar 2025 Q2
any just shifts in your conversations with customers or incremental potential customers in terms of what they're looking for
Show response
Lyons confirmed priorities unchanged: good sites with transmission access, affordable power, and strong state support for economic development.
is there any potential to pull forward incremental projects or accelerate plans to be able to take advantage of those credits for customers?
Show response
Moehn confirmed teams are actively acquiring transformers and evaluating pull-forward opportunities beyond the 5-year plan to capture credits.
Calendar 2025 Q1
is there anything that you’re seeing or hearing from your customers, particularly on the commercial or industrial side giving any early indications of any potential pockets of slowdown
Show response
Moehn flatly denied any slowdown signs, citing 3% trailing 12-month growth across all classes and continued hyperscaler interest.
Is there any quantification you can provide on the exposure of the overall capital plan to tariffs?
Show response
Moehn broke down: 65% labor (no tariff), 35% materials (85% domestic), net ~2% tariff impact primarily from battery projects. Very manageable.
Calendar 2024 Q4
how you envision that new capacity? Is that more focused on opportunities around SMRs or something more like an AP1000?
Show response
Lyons said no technology decision has been made yet, with 3-5 years of study planned. No material financial commitment expected near-term.
Can you just help us put that 5.5% CAGR into the context of sort of the total pipeline that you're seeing in Missouri
Show response
Lyons quantified the scale of opportunity and explained how construction agreements were prioritized by order of interconnection request.
DDominion Energy12 questions · 6 reporting periods · 0 of 12 challenging
Calendar 2026 Q2
the proposed Mount Storm combined cycle plant. Just to confirm, that would be incremental? To the base capital plan.
Show response
Ridge clarified the Mount Storm gas plant is not incremental, reflecting a previously outlined back-end acceleration of natural gas investment.
where you see the most opportunity for efficiency in the timeline, just with the reduction in the days per turbine
Show response
Blue cited faster Portsmouth reload turnarounds and quicker vessel jacking at challenging locations as the main efficiency opportunities.
Calendar 2026 Q1
Should we think about that two days per turbine as the target, or are there identifiable items that could get you toward maybe that day to day-and-a-half range
Show response
Blue expressed intent to continue improving but did not commit to a specific faster target. Emphasized the improvement trajectory rather than a final number.
Are you seeing any shifts in terms of the cadence of load development or progression through your pipeline due to some of the broader uncertainty
Show response
Blue gave a clear and definitive no, no detectable change in data center demand or pipeline cadence despite PJM uncertainty.
Calendar 2025 Q4
curious if you if you do see any incremental litigation risk or headline risk on the project from sort of external involvement
Show response
Blue framed CVOW as essential for AI race and defense customers. Slowing the project adds costs as demonstrated by prior stop work order. Adding costs and delays in data center capital of the world does not make sense.
any color you can provide on how to think about the cadence of the remainder of the common equity issuance
Show response
McFarland provided 1/3 in 2026-2028 and 2/3 in 2029-2030 cadence for equity. Hybrid market strong at ~50% equity credit. Well below prescribed maximums at both Moody's and S&P. Plan viewed as balanced, achievable, appropriate for credit metrics.
Calendar 2025 Q3
Are you still assuming that Stonepeak will continue to contribute incremental capital there
Show response
Ridge confirmed Stonepeak contributes 1/3 of costs between $11.3B-$11.8B with incentive structure in place. Actual overrun through 2026 expected to be less than $400M.
any color that you're able to share on the sort of timing to in-service for the 9.8 gigawatts of load that's now under ESA
Show response
Blue detailed 370 delivery point requests since 2020 totaling 58+ GW, 17 GW in 2025 alone. Energization dates stretch through 2031, typical 4-7 year timeline from request to connection.
Calendar 2025 Q2
any color on the reason for the PJM delay in terms of the cost update for network upgrades
Show response
Blue attributed delay to PJM workload, not Dominion-specific issue. No regulatory deadline for PJM. Reiterated expectation of no change near the magnitude of the February update.
any views on staff recommendation and any indication of what the issues will -- which as you will be in focus for Dominion
Show response
Blue explained $200M of headline difference is profit-neutral capacity adjustment. Remaining issues are standard: ROE level, O&M appropriateness, capital certainty. Nothing exotic. Hearing next month.
Calendar 2025 Q1
Are you seeing any change in tone or concern just around the broader economic uncertainty
Show response
Blue gave a definitive no, no pause or concern from data center customers despite broader economic uncertainty.
Can you just talk a little bit about that structure and just sort of based on your conversations with data center customers
Show response
Blue detailed new rate class covering ~131 data centers with 25 MW minimum demand, 80%/60% minimum demand charges, 14-year term with 4-year ramp. Conversations with data centers constructive.
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DUKDuke Energy12 questions · 6 reporting periods · 0 of 12 challenging
Calendar 2026 Q2
Have you provided any geographic breakdown in that high confidence load pipeline
Show response
Management said the majority of the late-stage pipeline is in Florida and Indiana but declined to break it out specifically.
Are you also in progress on securing the gas supply for any incremental gas plants as part of that next phase?
Show response
Management said gas is secured through early 2030 with a dedicated advanced-planning team working on supply beyond that as projects progress.
Calendar 2026 Q1
is that sort of a structure something that you might consider participating in?
Show response
Sideris laid out 3 prerequisites for new nuclear: first-of-a-kind technology risk, supply chain/workforce readiness, and financial risk protection. Said DUK will not move until all 3 are answered.
any details you can provide in terms of counterparty or terms there?
Show response
Savoy confirmed multiyear forward contract with undisclosed counterparty, avoiding annual auction churn. Said discounts are as good or better than any market tested. Cannot disclose counterparty.
Calendar 2025 Q4
are there any outstanding items or constraints to signing firm EPC contracts for the execution of the gas generation
Show response
Harry said supply chain is secured including transformers, circuit breakers, turbines. Using programmatic approach with single EPC vendor for efficiencies across sequential projects.
Could you talk a little bit about the timing of sort of the cadence of the gas, nuclear, and hydro upgrade opportunity
Show response
Harry detailed ~1GW of upgrades: gas fleet advanced materials, ~300MW nuclear upgrades, and hydro upgrades. Cheaper than new generation and add efficiency that reduces fuel costs.
Calendar 2025 Q3
just curious how you might envision Duke playing a role in this build-out, particularly as an operator?
Show response
Harry listed three prerequisites: supply chain resolution, cost overrun protection, and balance sheet protection. The IRP now includes both SMRs and AP1000 options. No commitment until prerequisites met.
would you expect that to move higher to the extent that there's expanded natural gas pipeline capacity into the Southeast?
Show response
Harry confirmed more gas and pipelines will be needed as economic development grows. Gas supply secured through early 2030. Dispatchable power considered critical for new loads.
Calendar 2025 Q2
Can you just provide any color on how we should think about the timing of those investments and the impact it could have on your CapEx
Show response
Harry said AWS load ramps starting 2027-2028 through early next decade, with potential expansion toward mid-2030s. Will be built into capital plan updates.
I think you had mentioned that there's an option for them to fund the total investment sooner. Is that something that's just up to their discretion?
Show response
Harry confirmed Brookfield has discretion to accelerate but must proceed quarterly with notification. Duke's plans assume the announced tranche schedule.
Calendar 2025 Q1
is there anything that you're seeing or hearing from, in particular, your industrial customer base in terms of activity levels
Show response
Brian said no changes to production schedules but a cautionary stance from industrial customers. Harry noted some customers like steel producers could benefit from tariffs.
Can you just provide your latest views on the outlook both for transferability and the future of the tax credits
Show response
Harry emphasized nuclear production credits as most important, noting broad bipartisan support. 26 representatives signed a letter supporting nuclear tax credits and transferability.
EIXEdison International12 questions · 7 reporting periods · 0 of 12 challenging
Calendar 2026 Q2
potential options on the table in the event that reform does not move forward this session?
Show response
Pizarro acknowledged a cost-of-equity hit would influence future investments outside safety and reliability obligations, but explicitly declined to give the specifics asked for.
Just curious if you have any view on timing to sort of cross that $1 billion threshold
Show response
Pizarro confirmed the threshold is being crossed now and described a prefunding mechanism worked out with the CEA so SCE does not come out of pocket.
Calendar 2026 Q1
how you're positioning some of the rate decreases that you've seen this year and Edison's overall strategy on affordability with policymakers in response to some of the noise on affordability relat...
Show response
CEO noted SCE rate increases at or below inflation historically except 2019-2024 period, and commitment to return to at-or-below inflation through 2030. Typical non-CARE residential customer pays about $188/month vs $180 two years ago.
could you just provide some thoughts on kind of the course of action in the event that legislation has not passed this session or maybe isn't as comprehensive as you might have hoped?
Show response
CEO warned without 2026 action, credit rating impacts likely across utilities, insurance, other sectors, and state financing authority. Would need to reassess cost of capital and capital allocation if legislation fails. CFO emphasized no equity needs, 5-6% dividend increase, and strong visibility into plan.
Calendar 2025 Q4
On the AMI 2.0 application, just once you file that what do you anticipate to be the timing on clarity of approvals? And then just how does that interplay with the timing of the capital dollars tha...
Show response
CFO noted filing in next few months with 18-month decision timeline. $1.5B embedded through 2030, another $1.5B post-2030 through 2033.
Any updates that you'd call out in terms of thematics that are coming out of the updates we've gotten so far?
Show response
CEO noted robust stakeholder participation and constructive themes: economy-wide approach, insurance market solutions, equitable socialization of catastrophic risk. Highlighted CPUC report acknowledging utilities cannot be insurers of last resort. CFO emphasized need for predictable framework supporting well-priced capital access.
Calendar 2025 Q3
Just curious your latest temperature on the outcome there relative to what you have baked into the financial plan
Show response
CEO noted SCE requested 10.75-11.75% ROE vs current 10.33%. CFO confirmed PD expected in November and wide range of ROE scenarios tested in 5-7% growth forecast.
It looks like the FERC piece come down a little bit on the margin. Just curious what's driving that?
Show response
CFO attributed slight decline to timing, nothing to read into. SVP Powell highlighted CAISO 20-year plan pointing to $45-55B of statewide transmission investment opportunity.
Calendar 2025 Q2
your thoughts on perhaps other alternatives that you think could still support affordability in a more constructive way?
Show response
CEO gave extensive answer covering operational excellence, public purpose program reform, NEM reform, and detailed comparison showing SCE comparable costs are competitive with LADWP despite lower customer density.
Calendar 2025 Q1
Can you just talk a bit about your wildfire mitigation plans related to any other idled or abandoned lines that could potentially pose risk going forward?
Show response
CEO explained idle lines are maintained because of future use potential. Team added specificity to transmission operations manual on grounding procedures as part of continuous improvement.
if you've done any work quantifying exposure to tariff risk and how you might be working to mitigate that?
Show response
CFO quantified tariff exposure at ~5% of purchases (~$125M annualized). Customer impact mitigated by capital entering rates over long useful asset lives.
Calendar 2024 Q4
any color that you can share in terms of what's embedded in your plan or just how you're thinking about a potential improvement or not in the CPUC ROE
Show response
CFO noted sensitivities cover multiple ROE outcomes. Filing will include wildfire adder discussion as in 2019 but emphasized structural AB 1054 changes are more impactful than CoC alone.
SRESempra12 questions · 7 reporting periods · 0 of 12 challenging
Calendar 2026 Q2
is there anything that you could see changing about your GRC filing or any other parts of your investment strategy
Show response
Jeff said the California capital plan is dialed in at ~5% rate-base growth and declined to speculate on hypotheticals without bill text; direct.
Calendar 2026 Q1
Could you talk a little more about the labor side, specifically beyond 2028, and how you think about labor availability
Show response
Nye said large backlog of work is attractive to labor seeking multi-year stability. Contract labor has nearly tripled. Tight market but strong response from partners.
Calendar 2025 Q4
Does the current plan contemplate not going back in for a rate case until 2030
Show response
Jeff confirmed no new base rate review filing expected until approximately April-May 2030, with the settlement's 2024 test year closing the inflation gap from 2021-2024.
is there anything you could see from that process or even from large load forecast revisions that could pose downside risk to the ERCOT-mandated transmission spend
Show response
Allen confirmed batch zero outcomes only affect the incremental CapEx category, not the base plan, and that 70% of Oncor's base capital is transmission with existing regulatory approvals or Permian plan projects.
Calendar 2025 Q3
curious as sort of the Phase 2 process kicks off, how you sort of envision Sempra's involvement there
Show response
Caroline Winn outlined four focus areas: shared risk cost-sharing models, new insurance/funding structures, improved claims processes for wildfire victims, and maintaining affordability/accountability, with white papers due December 12 and CEA report due April.
One of your peers came out this morning with plans to expand manufacturing for transformers and breakers. Just kind of curious what you're seeing from an equipment and supply chain standpoint
Show response
Allen described 8-year supply chain modernization including the Midlothian Amazon-like hub-and-spoke supply center, expanded vendor base, and advance procurement of 765 kV equipment from Asia and Europe before state approval.
Calendar 2025 Q2
as you think about that 50 to 100 basis points of improved ROE, could you just talk a little bit about the timing of those filings and how you'd expect the cadence of that improvement
Show response
Jeff explained UTM benefit starts at the low end (50 bps) in 2025 given first filing not until H1 2026, with improvement rising toward 100+ bps as capital deployment increases. Don Clevenger confirmed annual UTM filings after rate case resolution.
just wanted to get a pulse check on your views on the feasibility to reach FID on that project by the end of this year
Show response
Jeff cited three progress points, all major permits received, JERA offtake agreement, and advancing financing plan, and confirmed FID remains targeted for 2025.
Calendar 2025 Q1
could you just help us frame out the potential earnings exposure on a Sempra-consolidated basis
Show response
Jeff outlined minimal exposure: utility equipment 97-98% domestic, ECA LNG procurement complete, Port Arthur 90% U.S. suppliers with 1% remaining tariff exposure.
Could you just help us frame that potential impact? Is that more just a potential kind of slippage
Show response
Justin confirmed FID target remains 2025 while emphasizing discipline on cost risk management and shareholder returns.
Calendar 2024 Q4
any color on what you think that could look like relative to the four-year requirement
Show response
Jeff explained Oncor's growth makes more frequent rate cases necessary to update cost structures and reduce earned ROE lag.
can you talk a little bit about what you expect to put forth there
Show response
Jeff indicated planning assumptions are similar to current levels but sees opportunity to improve returns given the market environment.
PCGPG&E Corporation10 questions · 6 reporting periods · 0 of 10 challenging
Calendar 2026 Q2
how do you think about the potential of this cluster study load to move through the pipeline versus prior studies?
Show response
Poppe stressed projects must be rate-reducing and reaffirmed about 1.8 gigawatts of data center load expected online by 2030.
Calendar 2025 Q4
any color on the movement in the overall pipeline? Is that a high grading
Show response
CEO highlighted broader opportunity beyond data centers including manufacturing, robotics, chip equipment, EV buses. Hired Chief Commercial Officer to capture broader load growth.
is it your expectation that this will be sort of in this legislative session
Show response
CEO expressed strong hope for resolution in current two-year session. CEA process working as planned. Professional organization following through on commitments.
Calendar 2025 Q3
just help us frame out what it would take for you to have the confidence to potentially raise that target
Show response
CFO confirmed on track to exceed 2% target for fourth consecutive year. Significant progress on capital-expense ratio. Not raising target yet but continues to be key affordability driver.
Just curious if anything you can share on conversations with the other agencies
Show response
CFO said both Moody's and S&P confirmed financial metrics meet IG criteria. Phase 2 progress is key trigger. Moody's on typical first-quarter action cycle.
Calendar 2025 Q2
any specific opportunities that you'd highlight driving that potential upside
Show response
CEO highlighted AI deployment in inspections, new vegetation management technology, self-insurance savings, and hundreds of waste elimination projects across the enterprise.
any thoughts on how we should think about your expectations on the conversion rate from early stage to final engineering to construction
Show response
CEO estimated roughly 50% attrition from application to construction based on Cluster 1 and 2 experience. Could improve as execution improves.
Calendar 2025 Q1
Is there any quantification on those impacts on the capital plan that that you can provide
Show response
CFO detailed tariff exposure as manageable: main exposure is transformers from South Korea at 12% tariff on $100M of total spend. Lean operating system is primary offset tool.
Calendar 2024 Q4
how are you thinking about the cadence of disbursements and any potential impacts from some of the aims sort of pause
Show response
CEO confirmed DOE loan not in base plans. 2025 expected to be slow with pickup in 2026-2030. No advances requested or received yet.
how would you just think about cadence of potentially revisiting that assumption? Is that is that catalyst to GRC filing
Show response
CEO confirmed GRC filing as catalyst for plan updates, shared anecdote of frontline cost-saving ideas and 28,000 coworkers contributing innovations.
WECWEC Energy Group10 questions · 6 reporting periods · 0 of 10 challenging
Calendar 2026 Q1
Just any color you could provide on how execution is kind of tracking there relative to the time line
Show response
Lauber said no slippage seen, meetings every other week with site. Transmission line approval expected fall 2026. VLC tariff provides cost protection on transmission.
Calendar 2025 Q4
how you're thinking about potential election rhetoric around affordability just in the face of filing a rate case in Wisconsin in the next couple of months
Show response
Acknowledged open governor's race with affordability as a topic. Highlighted initiatives to keep costs low including ~$55M positive fuel recovery being returned to customers.
are there any near-term milestones we should be watching there to gauge progress and also gauge the support from the commission for those investments?
Show response
Retiring approximately 35 miles in first year, ramping to run rate by 2028. Safety monitor now on staff. Forward-looking test year filing will be key early indicator.
Calendar 2025 Q3
do you see incremental capacity and potential on the system for more load to be added in the course of the current plan?
Show response
Sees potential for growth both within current 5-year plan and beyond 2030 depending on customer development plans.
Calendar 2025 Q2
get the latest pulse check on the Microsoft ramp-up of activity at the data center site
Show response
Lauber described extensive Microsoft land holdings: 1,360 acres active plus 700+ acres additional. Confident in current forecast.
Do you think that, that end of 2027 time frame for their power needs is achievable?
Show response
Confirmed ability to deliver but deferred specifics to 5-year plan update. Working with Vantage for quite a while.
Calendar 2025 Q1
Could you talk a little bit about conversations with other large load customers outside of the data center industry?
Show response
Characterized broad customer base as cautiously optimistic. 10 of 16 tracked sectors positive in Q1. Eli Lilly, housing still progressing.
anything that you fly from the most recent series of workshops there that you think could impact the final outcome early next year?
Show response
No directional change observed from workshops. Final decision pushed to next year. Pipe replacement approval viewed as positive signal.
Calendar 2024 Q4
do you see any implications from new policy priorities post inauguration that could potentially impact the cadence of your capital investment in renewables?
Show response
Lauber expressed confidence PTCs will continue, cited jobs and customer value. No anticipated issues on the horizon.
Any color that you can provide, on how we should think about the year-over-year impacts for O&M looking to 2025?
Show response
Liu explained O&M could grow 8-10% YoY driven by restoring run rate, new assets, and vegetation management spending.
AEPAmerican Electric Power9 questions · 5 reporting periods · 0 of 9 challenging
Calendar 2025 Q4
are there any historical data points or rules of thumb you can share just
Show response
Mihalik said quality of counterparties matters more than historical conversion rates. Stargate in Abilene is in AEP territory. 100GW total in Texas including queue. Also 5.1GW of industrial LNG load near Port of Corpus Christi.
Could you talk a little bit about what you think contributed to that and then just how you would expect those trends to evolve in 2026
Show response
Sturgess explained Q4 G&M driven by strong retail margins and wholesale contract optimization. Expect similar performance level to continue into 2026 per the EEI guidance release.
Calendar 2025 Q3
curious what that assumes on the PJM open window opportunities. Is the most recent window sort of baked in there? Or is that a source as you think about potential upside opportunities
Show response
Mihalik confirmed PJM transmission opportunities are built into the 5-year capital plan. Additional upside exists from incremental infrastructure rebuilding beyond new transmission lines.
Are there LOAs outside of Texas that are in the plan? And then is there a defined term or gating factor for the LOAs that are included in the 28 gigawatts versus those that are not?
Show response
Mihalik confirmed LOAs exist outside Texas. PJM: 100% under LOA, ~80% under ESA. SPP: 100% under LOA with partial ESA coverage. All LOAs have financial commitments. ERCOT: 100% LOA (no ESAs).
Calendar 2025 Q2
Should we think about that as just a timing impact in terms of the ramp of some of these larger facilities?
Show response
Mihalik emphasized peak-demand-based billing and contractual minimums provide revenue stability. Rising peak demand unlocks capital investment. C&I load ramp will continue with confidence.
just curious if there's any potential to pull any projects forward to secure the tax credits for customers?
Show response
Mihalik confirmed 100% of $10B renewables qualify under current law. Worst case, a couple of billion in back-end projects may need reallocation to other generation if Treasury guidance changes.
Calendar 2025 Q1
Can you just talk a little bit about the RESI dynamics driving that to track negative over the last several quarters here?
Show response
Mihalik attributed residential declines to efficiency gains and cost-conscious usage during cold winter. Meter counts growing but throughput declining. C&I growth more than offsets.
any color on how we could think about sizing what that CapEx could look like or the timing to deploy it?
Show response
Fehrman sized the first Texas 765kV project at $1-2B, with construction beginning soon. AEP built the first 765kV in 1960 and is the only US company with the capability.
Calendar 2024 Q4
Can you just talk about the status of procurement of key equipment like turbines to execute on those plans?
Show response
Fehrman expressed confidence in procurement strategy for turbines, transformers, and equipment. Multiple RFPs and IRP filings in progress across states.
NEENextEra Energy9 questions · 6 reporting periods · 1 of 9 challenging
Calendar 2026 Q2
any shifts to the earlier start potential of that particular project?
Show response
Energy Resources CEO said in-service timing is unchanged and development continues in parallel with government negotiations.
Just curious what appetite you've seen from local communities in Florida to hosting data centers.
Show response
FPL CEO addressed the pushback risk directly using Project Tango as an example and reaffirmed the 8 gigawatt expectation.
Calendar 2025 Q4
some degree of pushback in Pennsylvania on that project given the cost and some of the shifts on the PJM load forecast
Show response
Mike said project important for reliability and lowest-cost solution. PJM management continues to recommend. Listening to all stakeholders including OCA. Board meeting decision expected next month.
if we look at the year-over-year guidance for both gas pipes and gas infrastructure, that looks down year over year
Show response
John explained decline from Explorer pipeline divestiture reducing proportionate ownership EBITDA. Gas infrastructure decline small at ~$50M. Pipelines remain critical growth piece for 2026 and beyond. Gas infrastructure has a place but not key growth driver.
Calendar 2025 Q3
A lot of the additions this quarter coming beyond the 2027 time frame
Show response
John focused on 2028-2030 as biggest pull-forward opportunity. 2026-2027 plans in good shape. FEOC and safe harbor positions provide unique competitive advantages. Pipeline at ~30 GW shaping up well by year. More details in December.
Calendar 2025 Q2
you highlighted 1 gigawatt of backlog adds tied to the hyperscalers. Are you able to share any detail on those particular additions
Show response
Brian said hyperscaler needs vary by customer and region with mix of near-term and end-of-decade focus. NextEra's broad pipeline allows meeting diverse flavors. On pull-forward limitations, John said sites, interconnects, supply chain, and balance sheet are competitive advantages, not constraints.
Calendar 2025 Q1
Do you see any risk around project slippage beyond the current plan into 2028 plus just given the more uncertain macro environment
Show response
John distinguished from circumvention which caused some shifting. Current environment different due to overwhelming demand. Gas combined cycle build times extended from 4.5 to 6+ years. Near-term renewables demand expected to remain strong. Some '24-'25 low-end impact from circumvention already captured.
Calendar 2024 Q4
Can you just refresh us on the broader interest rate hedge program?
Show response
John detailed $32B interest rate swaps at 3.9% avg coupon. EPS sensitivity of $0.01-$0.03 in 2025-2026 and $0.03-$0.05 in 2027 for 50bp yield curve shift. Less than 1% of adjusted EPS. Current rate environment factored into financial expectations.
Is there anything you can share on how this is or is not impacting the conversations that you're having with customers
Show response
John and Rebecca both emphasized no negative impact. Customers need projects built because they've already shut down generation or invested in manufacturing. Rebecca said customers focused on time and money, no time for alternatives and renewables are lowest cost.
PEGPublic Service Enterprise Group9 questions · 6 reporting periods · 0 of 9 challenging
Calendar 2026 Q2
could you provide any updates in terms of hedging activity beyond 2026, so where you are in '27 or '28 at this point?
Show response
Dan declined to provide any incremental hedging disclosure beyond what is already in the materials.
Calendar 2026 Q1
Anything that you are expecting out of that meeting in terms of focus areas or what you think is on the table to address as we think about the utility business model in New Jersey?
Show response
LaRossa welcomed performance-based metrics discussion, cited strength in reliability, customer hookups, and satisfaction. Expressed confidence in favorable outcome.
Can you talk a bit about how you envision Public Service Enterprise Group Incorporated participating on the nuclear front in the state
Show response
LaRossa highlighted Salem site advantages including early site permit, completed port, skilled labor, and operational expertise. Leaning in to advocate for state.
Calendar 2025 Q3
can you just share sort of the latest there in discussions about refreshing that program
Show response
LaRossa confirmed GSMP II extension discussions are ongoing with the BPU but declined to provide details to avoid front-running the negotiations.
Calendar 2025 Q2
Is that sort of 10% to 20% conversion rate still hold in your view on that 9,400 megawatts
Show response
LaRossa confirmed the conversion rate holds, with over 90% of inquiries being data center related. Most are edge computing rather than hyperscale, typical for New Jersey market.
I just would love your thoughts on how you feel about execution within the full year guidance range
Show response
LaRossa confirmed confidence in the range. Cregg reminded that Hope Creek refueling outage in the fall will be a drag, and as a 100% owned unit, it has an outsized quarter-to-quarter impact.
Calendar 2025 Q1
Any indications you can share on the breakdown of that 6,400 megawatts in terms of what are more geared towards initial applications versus those that are more mature
Show response
Cregg explained that the 10-20% conversion rate continues to hold, with planning based on a subset of total inquiries. Conversion tracking improves as prospects advance through the process.
any color you can provide in terms of where you see potential exposure on the tariff front
Show response
LaRossa expressed high comfort given focus on last-mile replacement activities with no major transmission projects or large project risk. Maryland project showing no supply chain concerns.
Calendar 2024 Q4
Do you still expect to revisit that this quarter? And then would that be upside to the plan in 2025
Show response
LaRossa confirmed GSMP III conversations have started and the program is included in the capital plan, a straightforward continuation of core business activities.
NRGNRG Energy7 questions · 6 reporting periods · 0 of 7 challenging
Calendar 2026 Q2
are you able to share how much of the 2 gigawatts is kind of economic at the $555 per megawatt day cap
Show response
Rob estimated less than half of the 2,000 MW clears the central auction at the cap, with bilateral talks ongoing across all 2,000 MW.
Calendar 2026 Q1
can you just provide some detail on what is left there to get the asset online?
Show response
TH Wharton final steps are initial grade sync and ERCOT approval, on track and on schedule. Other two TEF projects at various stages of construction targeting end of 2028 COD, progressing as expected.
as you're integrating those assets, kind of what the key learnings have been so far? Any opportunities for synergies
Show response
Gaudette said assets performing as expected with potential uprates reaching up to 2 gigawatts depending on market structure. Limited personnel synergies but portfolio optimization opportunities being explored.
Calendar 2025 Q4
You highlighted in the slides several hundred megawatts of bridge power available beginning in 2028
Show response
Rob Gaudette noted bridge power uses reciprocating engines to give hyperscalers earlier capacity ramp while CCGTs are built. Demand varies by customer.
Calendar 2025 Q3
any updates on how that's tracking in terms of uptake? And is that something that we should expect to see sort of regular updates on
Show response
Brad Bentley confirmed VPP on track for targets, installing more customers than anticipated with 2x expected equipment upgrade rates.
Calendar 2025 Q2
any more you can expand on the drivers of that strength? And if you see any sort of read-throughs to the potential longer-term glide path?
Show response
Management noted it's early to change long-term numbers after only 3 months in market, but seeing tremendous uptake plus additional Smart Home product adoption.
Calendar 2025 Q1
how that's tracking post launch in terms of the uptake and how you feel about the ultimate margin opportunity there relative to what you've laid out on prior calls?
Show response
VPP target raised from 20MW to 150MW for 2025 exit. Nearly 50% of VPP customers upgrading to additional recurring revenue services.
EXCExelon2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2025 Q2
Is there any color you can provide in terms of the potential timelines for projects to progress through the different phases that you've outlined in that pipeline?
Show response
Jeanne provided load ramp timeline consistent with prior disclosure. Noted high confidence in pipeline progression with few expected barriers.
Could you just talk a little bit about the bill impact with these auction results in place, especially with the BGE clear being lower relative to the last auctions?
Show response
Calvin noted $1.5 to $4 bill increases across jurisdictions from capacity auction results. Jeanne emphasized broader understanding that this is supply-cost driven.
VSTVistra Corp.2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2026 Q2
Could you just talk a little bit about the hedge updates that you provided, and particularly on 2028?
Show response
Burke declined to detail hedging strategy but pointed to portfolio offsets between strengthening PJM and weakening ERCOT, attributing ERCOT weakness to recency bias and battery additions; commercial head Stuckey illustrated how a tight July 22 window cleared at $57 but could easily have been $400-$500.
can you talk about your kind of general willingness to lean in on the buyback if the market gives you opportunities
Show response
Moldovan reiterated $1.2 billion of authorization remaining to be exhausted no later than end of 2027 and said if repurchases are added in 2026 the company would ask the Board for additional authorization to keep at least $1 billion available for 2027.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| ES Eversource Energy | 14 | 0%none of 14 questions |
| FE FirstEnergy | 14 | 0%none of 14 questions |
| SO Southern Company | 14 | 0%none of 14 questions |
| XEL Xcel Energy | 14 | 0%none of 14 questions |
| AEE Ameren | 13 | 0%none of 13 questions |
| D Dominion Energy | 12 | 0%none of 12 questions |
| DUK Duke Energy | 12 | 0%none of 12 questions |
| EIX Edison International | 12 | 0%none of 12 questions |
| SRE Sempra | 12 | 0%none of 12 questions |
| PCG PG&E Corporation | 10 | 0%none of 10 questions |
- ESEversource Energy · 14 questions0%none of 14 questions
- FEFirstEnergy · 14 questions0%none of 14 questions
- SOSouthern Company · 14 questions0%none of 14 questions
- XELXcel Energy · 14 questions0%none of 14 questions
- AEEAmeren · 13 questions0%none of 13 questions
- DDominion Energy · 12 questions0%none of 12 questions
- DUKDuke Energy · 12 questions0%none of 12 questions
- EIXEdison International · 12 questions0%none of 12 questions
- SRESempra · 12 questions0%none of 12 questions
- PCGPG&E Corporation · 10 questions0%none of 10 questions
Show all 17 companies
| Company | Questions | Challenge rate |
|---|---|---|
| WEC WEC Energy Group | 10 | 0%none of 10 questions |
| AEP American Electric Power | 9 | 0%none of 9 questions |
| NEE NextEra Energy | 9 | 11%1 of 9 questions |
| PEG Public Service Enterprise Group | 9 | 0%none of 9 questions |
| NRG NRG Energy | 7 | 0%none of 7 questions |
| EXC Exelon | 2 | —Rate withheld: fewer than 3 questions |
| VST Vistra Corp. | 2 | —Rate withheld: fewer than 3 questions |
- WECWEC Energy Group · 10 questions0%none of 10 questions
- AEPAmerican Electric Power · 9 questions0%none of 9 questions
- NEENextEra Energy · 9 questions11%1 of 9 questions
- PEGPublic Service Enterprise Group · 9 questions0%none of 9 questions
- NRGNRG Energy · 7 questions0%none of 7 questions
- EXCExelon · 2 questions—rate withheld: under 3 questions
- VSTVistra Corp. · 2 questions—rate withheld: under 3 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 21 | 0%none of 21 questions | 12 |
| 2025 Q1 | 27 | 0%none of 27 questions | 15 |
| 2025 Q2 | 29 | 0%none of 29 questions | 16 |
| 2025 Q3 | 26 | 0%none of 26 questions | 15 |
| 2025 Q4 | 27 | 4%1 of 27 questions | 14 |
| 2026 Q1 | 22 | 0%none of 22 questions | 12 |
| 2026 Q2 | 23 | 0%none of 23 questions | 14 |
- 2024 Q421 questions · challenge rate 0% (none of 21 questions) · 12 companies
- 2025 Q127 questions · challenge rate 0% (none of 27 questions) · 15 companies
- 2025 Q229 questions · challenge rate 0% (none of 29 questions) · 16 companies
- 2025 Q326 questions · challenge rate 0% (none of 26 questions) · 15 companies
- 2025 Q427 questions · challenge rate 4% (1 of 27 questions) · 14 companies
- 2026 Q122 questions · challenge rate 0% (none of 22 questions) · 12 companies
- 2026 Q223 questions · challenge rate 0% (none of 23 questions) · 14 companies
Topics
Topics tagged on this analyst’s questions.
- Capex Investment66
- Regulation Policy64
- Demand38
- Capital Allocation18
- Cost Pressure13
- Cloud & AI13
- Supply Chain11
- Innovation & R&D11
- Margin11
- Guidance Reliability10
Show all 20 topics
- Revenue Growth8
- Competitive Dynamics8
- Trade Tariffs8
- Credit7
- Macroeconomic6
- Subscriber Growth6
- Geographic Expansion5
- Pricing4
- M&A2
- Product Launch1