Thanks and everyone. I'll good start Linn on morning nine. slide
full As Linn of the driving noted, performance, guidance upper EPS XXXX we our delivered our half year strong to quarter fourth financial range.
$X.XX a X.X% in EPS, in reflecting XXXX, year X.X% income adjusted adjusted X% EPS income, as share adjusted, QX net $X.XX net share was quarter in by in Fourth dilution. compared partially a a Full XX% to was by compared to increase increase offset offset dilution. XXXX, adjusted $X.XX reflecting XXXX $X.XX as
and weather impacts business by consolidated consolidated to segment operational earnings compared favorably impacted address Weather discuss both XXXX. here. but driver in normal results few earnings I'll XXXX we'll slides, a in
was EPS $X.XX by fourth less weather the favorably compared estimate which XXXX. favorable quarter impacted in fourth XXXX, of the $X.XX normal, In to we than quarter
to year full estimate For favorably $X.XX compared impacted we by EPS XXXX, favorable was weather less $X.XX which normal, than XXXX.
represent do measure. reconcile to XXXX earnings as quarters earnings. XXXX last We we and this to seasonality ongoing the non-GAAP our slide adjusted, a five earnings XX, believe December This and XX demonstrates slide items months of better and displays and of communicate we our trailing performance. earnings GAAP as isolate special On the XXst, that
In related $X.XX quarter $XX impairment recorded privately of release. noncash a an to after our that a quarter in the XXXX, third held in per company. investment covered or pretax tax earnings share of We third million we
our XXXX, all related. were tax items ongoing income Special reflective in of performance not
and reflected item Tax the impact the first Act during The of XXXX. Cuts Jobs
ongoing XXXX. legal and on as-adjusted impairment restructurings we completed in in and are second items and The basis. our related tax reflect in them XXXX larger benefits of an to performance tax-related XXXX not indicative The item accordingly, of
margin the chart our to Slide I'll our chart QX but QX add gross detail more amounts drivers segment primary to year. Electric on QX solid XX, XX level, at had last income a of improvements Power XXXX XXXX. this earnings segments is by results Utilities, Slide Utilities, and from All illustrating Generation on compared are taxes. waterfall net Gas high a of
cost Total in than service as O&M capital increased less investment X%, during result program. our customer-focused from quarter. management by reflecting plant of increased increased solid a Depreciation the
development costs projects longer approximately construct. to was related compared Interest higher last expense million than year to to XXXX. QX we expense Other due flat to $X.X no intend was of
the experienced when year income special previous in in tax prior excluding effective the to rate discussed the favorability slide. items, on We our I XXXX QX compared
effective last Our quarter was the X.X% again, compared for XX.X% rate year, to the tax special items. excluding
by carryback development effective assets, higher benefit from tax QX federal repair generation driven credits. increased XXXX in and claim, new from was credits a tax reduced The and tax rate loss the production our wind
full all a are Slide our year of chart the income page, taxes. XXXX, on net QX chart consistent waterfall is comparing XXXX here waterfall XX to amounts with previous
nonregulated year, improvements Our strong Utilities our gross Utilities and margin Gas margins relatively Electric last both year-over-year. were had compared flat to while
expense reflecting X%, over prudent slide. expenditure mentioned development increased the higher Depreciation our year as service of capital expense due was full customer-focused by cost expense XXXX. slightly to Other from increased O&M management than Total the a Interest in plant increased last cost year. result on I than last higher was program.
to reduced wind when rate on state XXXX effective tax primarily and discussed tax investment in a was tax claim. tax was federal items tax benefit rate XXXX tax and from Our the excluding driven credit earlier. XXXX loss by our XX.X% credits in federal the I from production the The carryback special compared in XX% effective farms income
a operating segment earnings details XX, increased and here, compared I'll in income $X.X can to in for margin you QX year-over-year to compared operating operating slide comments additional quarter QX for year. million prior are find Utilities, XXXX. the few At income our and changes by gross QX our release. expenses make XXXX On results the Electric on fourth
million to driven expenses by Gross industrial depreciation expense. million, $X.X by over costs and recovery. primarily capacity rider costs QX and year power Operating increased higher last lower margins due higher employee purchase $X.X increased demand,
our Utilities, benefiting and million million, QX our At partially Gross increased year. income by XXXX. transport margins by compared increased by to territories, in compared QX rates. were last transmission operating new for higher margins benefits These $X.X from unfavorable weather and offset to growth customer $X.X Gas XXXX service
employee costs, X% Heating but $X.X QX normal outside for million, quarter, degree offset Operating XXXX. lower and lower higher partially days the above by from were decreased than expenses by services primarily depreciation. X%
On and to in QX compared contract at the wind bottom segment, XX year. Revenue Power of we income XXXX our Generation to slide increased higher $X.X assets prices QX due received million operating half this increased increased for from generation added generation our new XXXX XXXX.
new higher the those we benefit received the projects to Operating federal reduced primary our from production was and expenses from these expense prior Mining through wind tax taxes increased to our projects. in assets. comes comparable The Operating credits due depreciation wind due property to new earnings income segment year. income from tax
and I'll XXXX for the additional operating operating to increased segment year-over-year year. are details Again, a $X.X XX, in on changes earnings compared slide million On XXXX. by our few operating Electric XXXX margin find and comments release. here, for compared income expenses you'll prior year full our in Utilities, results At to gross make
depreciation year, million, rider recovery. Electric, Gross Operating lower margins by a million primarily Wyoming power regulatory over costs, capacity increased year, higher costs, driven in by settlement higher and primarily service higher expenses expenses to due and $XX employee increased prior outside the purchase $XX last expense.
operating Gas million, higher rates, compared XXXX. by for margins margins. customer service million and and increased $X.X income increased transport from Gross At benefiting $XX growth by XXXX Utilities, our transmission new territories our to in
on unrealized mark-to-market gross to to year weather gain and and million benefits unfavorable losses changes were these had commodity of by we gains a partially contracts. in last year, Last offset on These margin $X.X compared contracts.
second XXXX precipitation we had X% Heating for margins negatively quarters million Nebraska of service to was territory benefit year, a in normal the offset loads were this agricultural by And in degree $X.X our loss. to excessive normal gross Gas third XXXX. above that impacted in days above compared XXXX. irrigation customers X% during This and
expenses million the by In services, taxes we normal. from increased $X.X by Gas prior year, total, by and margins when higher $X.X adversely at favorable was cost, weather depreciation. estimate for compared million year, $XX but to outside to Utilities impacted Operating compared the employee property the million
increased slide income but on prices XX to when from offset bottom year generation, higher for current half wind Power the XXXX. by operating was higher compared higher in depreciation Generation Revenue segment, due assets. million and the XXXX to expenses the joint at our increased of On and contract increased received property taxes partially $X.X operating
As mentioned federal to earnings primary income tax the these wind production on the our reduced credits I previously, projects to from due comes benefit we new tax projects. received
Operating of income the impacted primarily at prior million mine. Mining unplanned the $X.X The outages year. decrease sales the segment by by which and negatively to our planned Wyodak compared from driven at year plant, decreased was the prior
lens credit Slide XX of and financial flexibility. financial position capital the structure, ratings shows our through
stable Fitch all both outlook a and credit Our at with and at S&P ratings at Moody's, agencies. at BaaX three BBB+ remain
our to investment-grade credit committed strong ratings. remain maintaining We
favorable of pay maturity upcoming new $XXX public in we Given we to interest off had And from rates low perspective. debt million XXXX. and and shape liquidity October maturities are in issued we XXXX market a and debt in long-term good early conditions,
XX.X%, than we our program December fund end higher At-the-Market where through We of debt-to-capitalization slightly capital XXXX due of investment ratio million in equity of million. to our XXXX program our the mainly at XXXX, help $XXX $XXX to offering equity At issued our CapEx. XXst, net was were
guidance. million million from $XXX end to We At-the-Market each XXXX, prior million expect the of increase an equity to through range in our program issue our of $XXX of $XX on
increased for equity our million as in helps by capital and total additional XXXX fund disclosures through $XXX and CapEx previous XXXX we by XXXX from our investment $XX combined XXXX. for increased The million
in remain the XXXX, likely While to XX% total debt target over $XXX our CapEx XXXX, in to debt in term. cap range to the shortly. to program plan will our to through a mid-XXs continue to Linn CapEx capitalization the we ratio in million XX% total speak longer invest will given
record. Slide XX track dividend illustrates our
grown As to dividends Linn maintain on confidence XXXX track in we've years XX% deliver increased dividend dividend to our a with in XX annual increases future XX% of at the and we earnings in $X.XX target We years in mentioned, our XXXX, are of of demonstrating And growth rate our consecutive payout strong ratio recent XXXX. EPS. potential.
now for back strategic his it turn Linn overview. I'll to
