Total Revenue

+3% YoY (Q4 2024: $2,284.2M vs Q4 2023: $2,217.5M)

Moderate revenue growth is driven by improved performance across segments—with Illinois revenue up 10%—and reflects a recovery in pricing and volume adjustments relative to previous periods that had been impacted by rate design changes and cost shifts. " "

Non-Utility Energy Infrastructure Revenue

+680% YoY (Q4 2024: $417.5M vs Q4 2023: $53.5M)

A dramatic surge primarily stems from key acquisitions and expansion in renewable energy assets (notably wind generation facilities) that built on momentum from prior period investments, markedly boosting production and output. " "

Illinois Revenue

+10% YoY (Q4 2024: $486M vs Q4 2023: $441.3M)

The increase reflects a recovery from previous rate design pressures and adjustments; while earlier periods were impacted by ICC rate order changes and cost disallowances, current operations benefited from improved margin recovery and cost adjustments compared to past Q4 results. " "

Operating Income (EBIT)

+73% YoY (Q4 2024: $590.9M vs Q4 2023: $341.4M)

The significant EBIT improvement is driven by enhanced revenue performance across segments, stronger cost management, and margin improvements that reverse some previously observed adverse effects (such as higher depreciation and operating expenses). " "

Net Income

+107% YoY (Q4 2024: $453.5M vs Q4 2023: $218.5M)

Net income more than doubled as operational efficiencies and improved margins (particularly in key segments) offset prior period challenges; the gains reflect not only higher operating income but also benefits from lower expense pressures compared with previous Q4 performance. " "

EPS (Basic & Diluted)

+107% YoY (Q4 2024: $1.43 vs Q4 2023: $0.69)

The strong increase in EPS mirrors the net income surge, driven by better operating outcomes and improved margin profiles relative to the prior period, which utilized earlier adjustments and investments to bolster shareholder earnings. " "

Cash Flow

Heavy capital expenditures with a net cash decline of -$318.8M (Q4 2024 characterized by -$4,715.8M capex)

The substantial cash outflows reflect aggressive capital investments in renewable and infrastructure projects, continuing the investment momentum from previous periods and indicative of a strategic shift toward long-term asset growth despite short-term reductions in cash balances. "