Before to the started thank me results, you. Jason, ground sought as get hit of congratulations I for you financial your I Dave, support to running. the on And
cover X focus. Today, of I'll areas
XXXX the First, EPS XXXX our to our positive initiation results, revision including of EPS non-GAAP guidance guidance. QX and non-GAAP
sheet. financing a at third, look positively plan. balance stand respect today revised and And plan with where we our corresponding our capital to Second,
let's start financial X. Slide Now on the with results
per represent and an upward mentioned non-GAAP to range to This guidance X in actual As growth $X.XX guidance the This Dave share, to consecutive year midpoint. range $X.XX full quarters from we $X.XX of share. over confidence X% behind his of headlines, full visibility have us, to year with per revision increased to growth. EPS would projected $X.XX using XXXX provide the third EPS reflects our now year X% XXXX of when non-GAAP XXXX $X.XX our
On a quarter we reported EPS the XXXX. for basis, of $X.XX third GAAP
Energy Our business, quarter of our now-divested non-GAAP for nonregulated results Systems results removed third the EPS Group. the
year, driven $X.XX contributed On a rate quarter non-GAAP by for quarter $X.XX, which $X.XX to basis, reported XXXX, the the third in we XXXX. updated the also for third recovery at of recovery in the of compared Growth as TCOS were the Electric transmission interim tracker which of rates various ongoing mechanisms and Houston was or customer Texas earlier the in such Grips.
Also separate quarter, contributing, and noted during the of TEEEF. and as Jason Houston we began at recovery mechanisms DCRF earlier, X Electric,
In the area, organic to growth X% both investors. growth, which X% trend strong addition, customers the and see in to customer extending to of continues annual continue long-term Houston we benefit average
the partially and in cooler primarily unfavorable $X.XX year. weather were and QX of our heat the we usage Weather QX quarter driven of to Houston the QX of offset $X.XX warmer in this service when experienced impact summer This historic impact territory. favorable compared XXXX, same Electric by weather
the remain the for quarters XXXX. average, per meet first customers' core third year-to-date when plan $X.XX X% And on while by to work our our reducing of X to laser-focused flat year executing quarter X% O&M was to favorable O&M we on needs. and comparing
items O&M the our due on impact from able increase to the to customers. QX for fact, certain spending In of benefit weather, we favorable were the
management, customers. recent and O&M projects for should which us and included improve see help activities we reliability given targeted the vegetation prudent, These conditions, other drought accelerated heightened our that as safety
O&M Our clear. is on consistent progress
customers. increase couple been summers Over to the hotter the last of for have on our benefit spend we O&M our able of to years, use
our XXXX. are reducing trajectory, at However, spend, O&M anticipating XX% over we O&M even this looking increased with controllable when by current since
These and excellent alike. are investors results for customers
year. We on continue and each execute for look to additional opportunities
Closing rate continued compared driver were rising expense. quarter, an the and The out $X.XX weather rate interest short-term earnings the year. was quarter primary offset third favorability of for unfavorability the recovery for interest borrowings drivers to last partially on this the from in increase when expense by
rate reducing moment. exposure. floating in continue I'll detail just this debt discuss in to short-term greater a we be in However, opportunistic
focus a X. XXXX Slide plan, here which bit me on see Let our on capital now can you
The we plan. of $X.X yet XXXX sound customers quarter or quarter and communities. of capital execution the billion third of over represents our year-to-date XX% $X.X capital deployment of as various another across for brings our to benefit invested investments This territories, billion year-to-date total service XXXX our
we XXXX, headlines, able $X.X our $X his full in to from plan billion. mentioned Dave additional in year million investments now to as increases billion $XXX customer-focused XXXX incorporate of are which Additionally, capital an
a little a factors saw benefited year couple second the of provide me this us. Let that This update. beyond law around context operational DCRF
did that frontline temporary First, there aid events mutual not our were as need. not to requests crews major great of we experience weather the loss activated that
With work, those work well our some to our of business modernization growth advanced opposed Electric next continued to more of over waiting as execute in at until customer year. to as our Texas Gas crews at the business able we support Texas X% ready were as our pipeline
our I'm continue to the safety, reliability proud invest resiliency customers. as way for and in we of team's in nimble be this to ability
turning Now non-GAAP guidance. our XXXX earnings to
final confidence you looking year be prior with to traditional quarter EPS for would strong deliver in in forward, year intend to third to the subsequent And of enter year. going XXXX, already quarter our to rhythm ability the our results, non-GAAP full we next As we -- for the we year. guidance provide are of
earnings XXXX growth initiating midpoint. result, represent a EPS $X.XX over are This per $X.XX of our range our X% we to XXXX earnings' as expected non-GAAP now-higher guidance today, an And would share.
through to to of we to mid- continue XXXX. growth non-GAAP X% EPS high the end X% Beyond XXXX, target
and with growing last highest of represents noticed, our the quarter you some in this dividends which increase earnings, as the increases from months, we line step We over also to increase XX to took a XX% the $X.XX of may $X.XX, sector. have one in the dividend target
capital this is growth now-revised our plan. Supporting XXXX
to customer-driven targeting we system safety XXXX, $X.X of are our capital support our For for billion resiliency to deploy customers. and growth, the of
top $XXX XXXX incremental add $XX.X XX-year million million through amount deployed the we approximately to This to new to and be capital $XX.X billion existing to capital added incremental plan capital our plan, billion. XXXX. of XXXX the anticipated in XXXX. This of $XXX the On total $XXX brings million is will
minute of a back advantage feel and here me It's and factors. we said to like move to more Allow on step recover need be our to much our take able thinking capital a as give before. revision. This about to for represents capital all a you efficiently customers. our think costs this fund for we've of upward execute, additional We including few
that First, come it where execution the Texas provide to in we passed can long a the soon. the has have recent And some of on in pull legislation way recent the better to start opportunity work play that years. resiliency legislature, by capital team we into
that in beginning to $X perspective billion when XXXX. since capital we the billion have our take plan in moment XXXX, how $XX.X just then-market capital billion in Analyst more Day. with and And put The over a Analyst of revised XXXX since nearly capital the $XX.X we than want deployed in capitalization. Day target, is I hosted our than over plan we far XX% $XX plan through new higher XXXX our billion-plus will we've last capital our outlined progressed
now a stands represents billion target plus in XXXX, in over Additionally, which increase at capital back of the billion, XX% X-year $XX over communicated $XX capital.
plan was still $XX.X quarter. any transaction $XX we the we last that lift equity the revision in Analyst to equity And we did not capital to that need recent fund in that $XX.X increases to ESG the we previous financing did most when the noncore billion, prior part case referenced our we announced nor to Day, announced At billion-plus also the due to from fund our billion. need same
to equity have plan said, incremental required. And or and for as capital equity-like beyond funding we simple. $XX.X is spend be as our the began However, reason billion would the plan, as we this previously grows capital
equally are While and preserving resiliency, strong to to a we investments committed we safety, making balance reliability are committed customer-focused sheet. for
line additions and that we our capital fund to with As incremental of consolidated capital plan, our assume acceleration forward structure. go evaluate we should you growth will in
in today million. program capital $XXX fund efficiently incremental it order million XXXX ago, we the that So to approximately ATM a see of opportunities moment $XXX initiating anticipate of I this capital we modest Ultimately, follows discussed capital formally a as continue will ATM, we've we And highlighted plans. our for plan. that fold evaluate along introducing the incremental said for flexibility to the additional with today, efficient we into before, funding in future future we
growth to XXXX. incremental any equity proceeds earnings' reduce this clear, will, no issued way, in targets be program investments. To dedicated ATM enhance program The our through are growth under and capital
continue thereafter intently to high we and With X% still reaffirm are X% to delivering discussed, As on to our of revised next target the capital affordably. we year plan, X% work our focused through end mid- XXXX.
to our to historic to Electric delivery continue equal of charges rate target at less Houston X%. or We be inflation than customer
and O&M per Houston's X% year charges on have achieve our ability reduce later to We to in next securitization year through tremendous the X% plan average. rolling off organic our growth, this confidence bill to
in even $XXX temporary keep great with have system included recovery less emergency make QX. customer to ability increased our customer more the resilient being found A of average we generation Even million at charges X%. customer as annual of our in our can be rates, investments more than now in example manageable than in an of charges
Dave earlier, and average ago, Like was affordability of have today. for years a charge $XX, our focus mentioned our XX it's averaging on track smoothing We strong $XX record bringing to rates and customers.
and our credit-related topics X. on some cover of will I Finally, Slide financing
as into quarter, the half XX.X%. from the debt accelerates of third FFO year. the end investments recovery our of was of of the calculated our the QX to going increase This represents back As expected an
acceleration we our have to will this on of as recovery through investments that on We we continue a X. quarter of full TEEEF DCRF September began QX indicated year, this and anticipate
through target XX%. We XX%, XX% downgrade our XXXX, to least of cushion points to importantly, at runs and provides continue FFO threshold which XXX of to basis of debt to
reminder, equity Houston approximately fund our debt and to of at Gas, a higher of which we capitalization carrying we layer believe million at these is are proper Electric the issued As Texas $XXX parent, which businesses. was the
Another continued the area in $X.X rate the to beginning of debt. third we've our floating the of which represents is seen improvement reduction we reduced from floating quarter, Through approximately XX% billion, exposure reduction which rate a debt XXXX. to
be opportunistic and continue this issuance We of example on a during is the reducing this further to balance opportunities. capitalizing in convertible bond great quarter
allowed redeem year floating us Our $X on Series preferred A quarter issuance at set X%. nearly convertible during shares go X the September to billion million that our the were of $XXX to
paper So the good contributing to were of convertible floating down to achieved opportunistic remaining of exposure. savings reduction some rate proceeds there. commercial allowed pay net us approximately bond The debt $XXX million
$XXX we close, million placement quarter SIGECO. of after private Lastly, issued notes at
in we've stand-alone quarters, an As than prior parent. was relying rather borrowings on from opportunity fund entity the this a basis, on to noted the intercompany
a X%. a the versus parent. a Vectren cost the final relative lower a this result, of debt as step reduced this by parent-level basis, to translate as another total our This financing is of integration. to On borrowing borrowing should milestone And go-forward
environment. sheet, appears be a balance in We especially what rate remain intensely to interest maintaining strong on a higher-for-longer focused
continued in long-term And to execute, We plan good to today shows of investors. even additional conservatism another progressing what build allow focus that continue face we is our step our plan. in to will hard an planning believe for have the us on customers and shared of This headwinds. worked
back now call With turn over the to Dave. I'll that,
