call. morning Thank us our joining you, and thank this of to for first all Dave, you quarter you for
my our financial into he assumes get to to as quarter the results what join I Before wearing final want for for his role. welcoming him Foster hat, in CFO I time Dave new Chris refers the as
for with his to to number no forward to industry. you in of one doubt be sure start years continue look we known have to he official long-term what Chris an Chris an already tangible partnering am excellent I know, the a that most CenterPoint. plans at have and of As I is management I date on believe strong addition will the execute many of I growth and team here
results on five. we $X.XX financial shown EPS a GAAP quarter XXXX. first slide the the for to of On turning reported quarter first Now basis,
trailing small excludes earnings of impacts divestitures. EPS non-GAAP Our previous
for we the first $X.XX of On the to a XXXX. XXXX, $X.XX of quarter quarter in basis, compared first non-GAAP reported
mentioned, a at third guidance over midpoint. year our for accounts the Dave full of this As
tracker Growth Houston at in rate last recovery year, electric our capital DCRF by filed mechanism the transmission mechanism contributed and our distribution $X.XX, electric largely TCOS driven the Electric. tracker,
observed In the over Houston the addition, decades have of three growth growth. we last in organic continue trend to see X% annual long-term we average area, the strong continuing
remaining focused to X% goal per XXXX quarter Additionally, first meeting ways continue customer’s of more X% our efficiently was we the favorable O&M operate $X.XX average, to when as on year while O&M to find to meet our compared to reducing needs. on in
and rate quarter of nonregulated favorable a such and revenue to in first rates benefits items rising miscellaneous balances. as average were favorable when by $X.XX partially $X.XX other other another interest debt items expense from Lastly, drivers tax in of the compared increase or quarter offset due in businesses, interest XXXX. first These the XXXX higher floating
However, a of since rate the debt considerably we XXXX. in as end exposure reduced minute, I will discuss have floating our
primarily more XXXX trend to to as quarter a weather for weather XXXX, colder was Electric in milder Texas unfavorable driven in Houston compared by in during $X.XX of and Territories. addition, quarter the a usage our Electric been common XXXX, and our same has In winter Service industry compared the quarter, when the first Gas, Indiana as
Houston the compared approximately degree XXX normal normal when in Service days the and Gas degree degree and quarter fewer days Indiana Territory at Electric in our XXX our there heating XXXX. quarter, during days approximately first Texas Service Territories Looking Electric of below were heating heating to fewer below
have weather. normalization the are the either impact weather a of helps mitigate decoupled other jurisdictions, fully our in milder Fortunately, or comparable mechanism that they
to Dave the non-GAAP XXXX $X.XX over full straight growth. of of of growth reaffirming As full on of XXXX two heels non-GAAP year we of X% which $X.XX are midpoint. using comes X% This, years when the guidance $X.XX reflects mentioned, EPS our range course, year of EPS,
target through X% in grow high-end XXXX. we expect annually of XXXX, continue the to Beyond X% to XXXX thereafter to EPS mid-to non-GAAP X% and
continues focus to be and strong every Our each year. growth delivering industry-leading
our billion. investments benefit our various invested to service customers This $X.X across over of annual this we $X quarter a target slide on the of capital Turning billion six. quarter, of during To represents XXXX territories. our
investing make long-term of throughout and continue to progress goal customers resilient capital safe, provide We XXXX towards through service billion of our to territories. all to reliable energy $XX our
right. formally We when still previously to in to it’s as plan it, up deploy front it. recover capital we execute opportunities when operationally decision when to we efficiently The it efficiently believe that include can mentioned of of and is to will we have us finance capital $X it billion we incorporate identified this we additional and feel
before, commit said have this we believe deliver. we management we not team something As can will unless to
to year, requested a seven. of regulatory revenue which Texas update our with in of Gas, of regulatory an Electric the start number Texas grips million. we annual requirement Starting Houston we our Moving have primarily Gas we broader jurisdictions. and a slide on Since increased $XX filed the in filings, had
capital in and is around which This to recover in support June. this filing safety in updated to rates primarily system to customer growing sometime seeks and the Houston. investments investment It were XXXX, that we territories our ever anticipated related will made be reflect on service
in revenue in for $XX was approximately both referred incorporated its our this is approved, and be Electric a it and will transmission anticipated The filed requirement often If investments distribution rates in filing Additionally, transmission trackers customer early requested TCOS, million. filing into made March capital as Houston of in to filed May. XXXX.
With Facilities requirement distribution revenue requesting and our filing, remaining Energy April, for respect as we million. our tracker, Emergency DCRF known of And capital million. a increase under revenue addition TEEEF requirement our TCOS, the referred filed in of to generation DCRF with temporary Temporary to recovery mobile week mechanism $XXX of as the a units $XX approximately a first annual filed of we the to in leased Electric
They until Houston and which are TEEEF latter rates that $X.X September represent billion XXXX Electric of nearly the not territory. deployed year. Xst, our As incremental into the part go will earnings capital service a DCRF of in skews filings towards in the reminder,
customers our continue of of impacts. bill remaining We to the cognizant invest for benefit while
keeping the rate have time. increases to We charge inflation able that while of last over been years, XX below the average during invest customer
being XXXX, able since increased off less rolling average, our Houston, or have a inflation. securitization growth long-term below of be customer Electric charges anticipate and historic on fact, we able O&M charges increasing annually X% the execute customer’s leveraging at charges continued organic this In with the of level plan to Again, we our than will Houston and discipline achieve to through bills. capital
positive our the we mentioned recovery quarter, PUCT to extreme echo an regarding mobile to customers. his to related first our temporary Using the adversely a overwhelmingly years, subject weather area think application that I for sentiment During service Dave last to emergency approved want couple as our generation is can customers. our is example, impact earlier. as units, the the an for outcome of Houston what events
use not for only to the need for energy decision those their pragmatic resiliency their understanding help weather designed during tools impacts allowing reflects living commissioner’s deep available its to these events, of the area. utilities also increased extreme service The to power approach mitigate Houston but on in
related some cover Lastly, I’d like topics. credit to
to to in We debt fully ended continue reported trend in end expect the down the first of throughout over and $X.X to area of first we Moody’s XXXX. quarter, well FFO at As end aligning this annual our XX%, debt be of as floating of was with to methodology, range quarter rate XXXX. target XX% billion the XX% our XX% outstanding the from
actions few have led this A significant to reduction.
quarter, securitization some down related we notes. received Storm of the proceeds floating to we to Dave Uri, rate mentioned, during pay as which First, Winter used the
left of We our have the extraordinary Storm $XXX Winter Uri billion approximately approximately incurred XX% to during Minnesota now collected million gas business. costs in Gas with collected be of $X.X
$X.X first Electric. at company billion in bond rate nearly operating our at the issued green fixed we Second, Houston of quarter, debt including issuance first our ever level
incremental refinance in fourth of floating amount of outstanding to a for XXXX. the that that year from Some certain issuances used end debt undertaken rate were investments of were was these made quarter
sector. balance team’s growth execute. the We management our this successfully banking this in investor’s to were long-term this reflects issue our believe sheet, able of despite to disruption debt in the We confidence the ability and strength
during last an more on quarter, purchased higher of December we forecasted. prices the amount at gas had touched debt, rate elevated which with by some cold XXXX which I weather driven As of exited floating was we than we
reduced will With majority anticipate we we been gas the milder as due costs customers, to the collect that to floating rate being the collecting down end said, We second this from the has of recover of by somewhat quarter debt we slower as costs. continue balance these winter. albeit pay and these
the for quarter. are These my updates
obligation your and commitment seriously As good to stewards value. we to to express, our stakeholder optimize continue we be very take of investment realize our
back over to will Dave. I the now call turn
