Total Revenue

**-33% " " " " **

Lower generation revenues and reduced mark-to-market (MTM) gains carried over from prior quarters, combined with softer wholesale market prices, drove a steep decline in top-line results. This shift reflects continued commodity price volatility and company-specific reductions in unregulated earnings. " " " "

Operating Income (EBIT)

**-67% " " **

Significantly reduced MTM gains, higher O&M expenses, and regulatory lag stemming from pending rate approvals contributed to a sharp drop in profitability. Elevated interest rates and inflationary pressures further weighed on margins, indicating potential challenges in the near term. " "

Net Income

**-63% " " " **

Lower realized margins from generation, diminished MTM benefits, and higher financing costs drove net earnings down from prior-year levels. Despite some cost-control efforts, the company’s transition away from certain unregulated activities curtailed revenue streams, impacting bottom-line growth. " " "

Cost of Goods Sold

**-8% " " " **

A decline in commodity prices for gas and power, partly offset by increased load obligations, caused a moderate reduction in overall supply costs. This reflects continued normalization following higher cost structures in previous periods and may support margin stability if wholesale prices remain subdued. " " "

SG&A

**-42% " " " **

Tighter cost-management initiatives, including workforce realignments and consolidated corporate functions, significantly lowered overhead expenses. Looking ahead, digital investments and efficiency programs may further optimize SG&A, although regulatory requirements may limit immediate additional reductions. " " "