John, and Thanks, good morning, everyone.
it on and start, congratulate I on years. over John like his succession a retirement, being work her upcoming the Susan to comments to Before CEO on role. with Susan, John's pleasure also I'd into the I you echo
all us here. You'll certainly be missed by of
turning Now XX. Slide to
to a results as on compared few Let XXXX. me details provide XXXX more
to find fourth reported quarter XXXX. XXXX, $X.XX $X.XX appendix. the per details by per also share will share of You in higher results were in earnings Consolidated compared
an As per share XXXX. earnings $X.XX per benefited of revenue from weather across share favorable John experienced in noted, to our from compared as result of $X.XX XXXX drier-than-normal a states weather in as estimated
rate of cases due Excluding weather, investment our increases the and were share, primarily states. recover surcharges rate general infrastructure per from across $X.XX impacts by to to higher authorized revenues
and closed customer wastewater water in as customer purchased is by which a item these Revenues per on revenues generally share note costs to higher basis. water are netted were that changes growth cost, from increase were additional higher from One $X.XX also and against year-over-year, recovered been an demand. organic acquisitions, have dollar-for-dollar
that And looking costs, and fuel, driven related at the compared to power XXXX. operating business in higher slightly also per Production chemicals higher growth priorly $X.XX support employee-related costs by share as were expected. by increases we other to and O&M costs was
to receipts tied by higher and with by primarily general property gross driven and higher receipts share, taxes, taxes were in New of investment level were Next, property the higher gross which Jersey. $X.XX per in of capital increase comprised taxes, revenue, tax the
financing share. long-term expected as growth. $X.XX per our in per investment of $X.XX And costs share, increased Depreciation increased support both
finally, $X.XX per February And the interest from income Services. amendment related to additional of the of sale share note XXXX had the of we Homeowner
this out additional continue income. investors so without our can will of the growth ongoing this quarterly strategy American from We to break interest regulated core track Water
consistent In Illinois additional effective an to $XXX and the in well XX. and includes received approved both equity we in order which completed an case revenues the return fourth successfully X.XX% January In on in in we of layer of Slide Commission X million cases prior XX%, final which the quarter, Illinois. were Illinois on an XXXX. last updated we as Turning annualized Kentucky. December, XXXX, equity allowed X, order summarize rate calls. We This of in as rate of our with covered X an orders California
and reliable Water We of environment American to safe our the Illinois for continue continue is customers. a of service is for that American to supportive provide constructive and Illinois Water needed investment the believe to benefit
to December, the commission's approval rate-making XXXX. a included partial that water million updates $XX allows an settlement January a incremental there for commission Switching X, retroactive X and with rates also annual adjustment of adopted sales beginning partial providing agreement revenues over to years, mechanism important over sales and forecast The on approved of decoupling decision of annualized California, in mechanism purposes.
to commission didn't promoting that decoupling. achieve conservation, filed avenues we in an the recognize and can ensure the the are customers importance affordable rehearing exploring with and of mechanism full benefits application rates for December While other with associated decoupling decision the and a
X, additional extension XXXX. of the cost the capital for Also in the commission X, capital granted X-year May set cost January request of of filing California, an beginning will to XXXX, which the authorized
in December XX, Our remain will authorized California XX.X% XXXX. ROE at through
providing which is revenues, a water about increases the Kentucky, finally, for the million in $XX million Public Commission XXXX. initial higher And May in from approved final Service order of in by of annualized order $X
filed we on their this revenues motion May, case. in received in [indiscernible] a for reminder, of a annualized As authorized amount clarification
New the rates were provided order in final November X. effective
XX. Slide to Turning
You year month, we X are of case end settlement prominent rate can most capital of us $X.X begin of in at in March. underway, Missouri, seeking have this jurisdictions. general Hearings where ahead the is of and see we recovery end the investments. of cases rate are briefs billion for The at this discussions progress and due
of We middle Overall, have similar the in expect our as they rates new this filed case in which key X was to case positions go prior years the parties ago, effect did in into settled. XXXX.
The May the commission through in XXXX. and Missouri parties gas of and related continuing adjustments session capture a to XX, propose have bills ends legislative we As for alongside the utilities informal have to Missouri on are to year separate proposed all case, to X current a an legislative XXXX, specific this Separately, of in reminder, future supported we session water test coalition December in on effort. path introduction May investments beyond a work the XX. that allows and
commission settlement to of Finally, are which we and approval, review Virginia, stipulation filed awaiting. in the remains subject
of by note a at We the the quick most cases state. recent we provide rate One of the our dates now slide. bottom general list filed
safe, investments wastewater to the we every and years past, services supported rate file to by cases provide and our As for we've benefit reliable water clean continue of expect the ongoing as about in long-term said our to customers. X
to Slide Turning XX.
position liquidity the review XXXX. and we strength balance metrics began Let's of our credit sheet, as
be less long of of total the ratio was XX%, the focused at can Investors hand, our million debt-to-cap within term. target company year, was of to on net target which expect this $XX to Our end of our XX%. well cash than on continue the over
ratings' regulatory Both We and stable across of expected just operational scale, note outlook. remain analysis. regulatory A-rated BaaX XX with outcomes their outlook. agencies at affirmed S&P FFO-to-debt and the current rating steady states, low-risk business our well Moody's financial credit-supportive performance last stable investment-grade trend credit And within and our sustained ratios a also and in our diversity our They note strong thresholds. solid month,
financial We higher are FFO-to-debt, our to investment-grade confident our ratings. profile, support will credit business and either current continue including or
From Slide strength, guidance financing our to let's XX for review this sheet plan. of turn position of balance and a X-year
As John can continues be annual we that deliver allowed capital The It's affirmed so which plan target. customers our serve prudently to our guidance, to growth. affordability on costs mentioned, our customer again EPS the invest on earning we we that of simple. X% managing represents returns XXXX backbone our operating while really
income which ago, interest that from interest on range from our reminder, the the business. we are note a As with of terms note XXXX of the incremental regulated guidance top replacing income of the HOS from the year $X.XX per amendment original a is share includes earnings
we've long-term as component repayment funding our source of past, of a of plan the growth. for is financing in the note As said a our
We XXXX. are also plan confirming XXXX last shared our fall, to now financing covering
said issuances level with strong external XXXX. timing equity simply equity we equity our no billion tied for previously, need and our an of fund very position. plan estimated is of to the includes and to total external financial As growth maintain $X.X The planned
alike. market and our already timing well projected is on CapEx equity issue our customers conditions cash of and are dividend we we to market conditions and with the plans Based and flows. at our respond $X have the for debt-to-cap ratios, we equity billion subject projections and cash alignment our billion XXXX. flexibility capital the in investors as XXXX some in in Since The $X.X to around underlying spending adjust future currently benefit they of targets if change point payout assumptions and as flows, to and to when of expect current for of these
equity determined balance to financing sheet strong Overall, appropriate case investors credit investment expect our routinely rate program, should by our as as to cycle and and occur maintain metrics.
up $X Finally, $X.X that debt financing. for by our of includes XXXX calendar I'll long-term billion financing wrap billion year noting plan to
more turn about activity I'll to at that, With it recent over key Cheryl? program, capital talk acquisition Cheryl drivers. our a and look our our to growth