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    Julian Dumoulin-Smith

    Managing Director and Senior Equity Research Analyst at Jefferies

    Julien Dumoulin-Smith is a Managing Director and Senior Equity Research Analyst at Jefferies, specializing in the Utilities sector with coverage extending to major companies such as Vistra Energy, NextEra Energy, and NRG. He has established a strong performance track record, with a recent one-year success rate ranging between 54% and 59% and average returns on recommendations from 4.4% to 7.1%, earning him a high analyst ranking by platforms like TipRanks and StockAnalysis. Dumoulin-Smith began his equity research career over a decade ago, serving at several large financial institutions including BofA Securities and UBS, before joining Jefferies where he now leads Utilities coverage and provides widely cited price targets. He is a FINRA-registered representative, holding relevant securities licenses in line with industry standards for senior research analysts.

    Julian Dumoulin-Smith's questions to EVERSOURCE ENERGY (ES) leadership

    Julian Dumoulin-Smith's questions to EVERSOURCE ENERGY (ES) leadership • Q2 2025

    Question

    Represented by Paul, Julian Dumoulin-Smith sought clarification on the 2025 equity issuance plan and asked about the expected earnings cadence for the second half of the year, particularly concerning the corporate segment.

    Answer

    John Moreira, CFO, clarified that while a large equity issuance is not expected in 2026 post-Aquarion sale, some issuance in 2025 remains possible depending on debt balances and deal timing. For the second half, he noted interest cost headwinds at the parent level would be less significant than in H1, and utility earnings would be steady with known gas rate adjustments effective November 1.

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    Julian Dumoulin-Smith's questions to Primoris Services (PRIM) leadership

    Julian Dumoulin-Smith's questions to Primoris Services (PRIM) leadership • Q4 2024

    Question

    On behalf of Julian Dumoulin-Smith, Brian Russo asked about Primoris's competitive position in the Texas gas-fired generation market, which end markets could drive performance beyond 2026 targets, and if shifting resources to solar is margin-accretive.

    Answer

    CEO Tom McCormick expressed high confidence in their Texas position due to deep internal expertise and a strong local craft labor presence, ensuring they will win a 'fair share' of the work. CFO Ken Dodgen identified Communications and Power Delivery as the segments with the most potential upside to exceed 2026 goals. CEO McCormick clarified that resources are shifted for specific, high-margin substation and interconnect scopes on solar projects, which is accretive.

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