to Thank also all new afternoon, like experienced everyone recognition and to with we the of and reiterate Jeff's you, record for first because teammates. growth team It's you welcome Jeff. from organization. And great work tremendous today. good I'd be XXXX, Diversified everyone. energy the our certainly of In our across begin
earnings year. on see achieved XX.X% you'll growth As for slide we XX, the
Jeff As consecutive growth, are the of proud mentioned, all year this something earnings truly of. marked XXth we
each Shore's infrastructure overall on it in regulated as and businesses, programs, all including in increased XXXX, to of growth advantageous programs Escambia contributions Gas, the the Eastern and increased programs, Maryland, our expansion our of half pre Florida pipeline projects the and and Diversified the the margin the with Meter within organic Utilities key our pipeline performance year propane [Indiscernible] system, business Elkton electric with executed first Gas, returned, gas To with as well along more from weather for simply, included subsidiaries, Some from increased performance year, Cost the Energy acquisitions from Marlin put -pandemic our fronts utility. surcharge consumption Capital performance in natural the in along Energy, higher Station, adding drivers of Natural conditions distribution Company's conditions units our as of Aspire Chesapeake growth. Western
gross million and increased Turning will and $X.X Net XX, quarter fourth respectively. fourth you the for million. the was see for adjusted what $XX.X million $XX.X income our margin Slide that is to quarter full-year
achieve XXXX income issuance as net quarter to in increased full-year, latter large for EPS reflect compared range. the the our the by net and million. to half over income of rate $XX.X XX.X%, our For structure The capitalization of the the rebalanced to growth growth both capital rates stock year-to-date XXXX, we target
doubled the time. XXXX. income more As Remarkable short has growth company's over a period Jeff highlighted, net than since of
quarter. factors to the we for some periods. additional contributors key and color full-year earnings earnings highlighted quarter the growth driving provide for the Slide On the me growth Let fourth XX, the on
additional some Let provide me detail.
Meter the in are an quarter. early reduced headwind. Escambia and regulatory the Cumulative items of first the Station, $X.XX and deferral expenses [Indiscernible] with bonds. The of energy, for of mortgage absence interest in expense COVID-XX natural $X.XX related gas the for two to generated addition acquisitions first to Contributions diversified incremental non-typical extinguishment a from earnings FPU represented
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XXXX $X.XX. share The for added in Reduced the related XXXX acquisitions mortgage year. Act, expenses $X.XX net early sales deferral was in we to year impact of the again, expense, assets the COVID-XX items, that the The unusual XXXX interest of of booked per $X.XX of First, CARES the combined were gains in consummated for headwind. including the generated bonds and FPU and $X.XX. earnings from extinguishment a
businesses generated And Our new in amortization, incremental by an property growth taxes and associated offset investments with core the EPS. depreciation, capital $X.XX $X.XX.
the operating core in year-to-date again, our in for the excuse impact $X.XX $X.XX, other tied acquisitions An businesses items expenses increase a shares finally, in for other due headwind. and Additional $X.XX And other impact. to resulted to were $X.XX outstanding period. expenses were another -- me, growth income,
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business our about third transformation better addition, bit and earlier the a -- In row. scale our us margin reduce enable a you adjusted efforts as that a in Jeff talk organization -- our cost operating heard of gross for to percent continue little to year
an Again, Next, ourselves propane a and impressive pipeline growth. performance improved our increased both earlier, for mentioned line, strong Natural XX% and impact Aspire. bottom position segments. Marlin business while to results we us driven was in across energy another that and these is generating virtual our was transformation. our income to higher Gas changes services, better energy positive Western on just our XX.X% organizational also segment XX, had solid overall year. are while gross for demand in Slide I announced Like continued and regulated performance enabling of steps December efforts. in Diversified business. acquisitions future by temperatures, also Recent the colder segment, up of Again, pivotal primarily our Adjusted Focus our unregulated year-over-year, Energy, margin for up operating our
expenditures the million we under deployed Slide during to Moving $XXX year. XX, capital on just
filing As $XXX of investment guidance our million restoration of supported this nicely $XX billion on to expenditures for of from highest long-term through range level when this capital we deployed system of level [Indiscernible], $X mentioned, million our Michael, XXXX was XXXX. capital outside investments Jeff XXXX
priced XX, to the $XXX we touch sufficient highlights. or that capital On are upon balance sheet our excited strengthened million, queue. expanded competitively Slide support to and projects For In guidance expenditure will capital balance introduce our I annual XXXX, a we to XXXX, few sheet with on are already our $XXX capacity growth. of million underway in future based
total which short-term stockholders of fixed of Our of at long-term million, rate debt X.XX% an $XXX at $XXX was billion and revolver X%. now million $X.X capitalization XX.X% debt approximately in million rate year-end, average average under comprised equity, is our just interest $XX.X under of
range to equity propane our target end of We the target because In assets back total Energy's year, Company you of that migrate largely range. acquisition the capitalization within of are at the shy expect should of capitalization to XXXX, in Diversified December. the
to multiple million placed on The a short-term During replaced million, to and to order debt under extension financing $XXX agreement, day entered both million, $XX agreement long-term senior the a capital regards revolving in tranche, with tranche XXth, short-term year uncollateralized for tranches our company facilitate to participating new In and a of our meeting facility XXX executed with note strategies the three we capital $XXX $XXX options. a senior capital of August into revolving million, day the of one-year a continue company facility a continue three with purchase December syndicated which X.XX% at XX-year have on long-term notes of which XXX of the on we our multi-tranche these $XXX two note credit consists credit needs. rate short-term five-year million lenders term. both debt XXth line the notes syndicated needs, lenders. issue In multiple
entered on on will debt at Additionally into given These notes new million an a be asset coupon propane recently rate $XX long-term this X.XX%. diversified for the years year. issued commitment projects or March also XXth, a completed additional XXth December acquisitions of before of we for and of XX
providers excited in of secured Services our to This Gas country's facility which sustainability million was used of financing. that new also Marlin $X.X support investments leading to quarter one is we services. During announce XXXX, the third of were the business, we virtual of continued pipeline
of achieve is gas. transport renewable its with This through customers the highly through lending natural CNG Bank sustainability poised sustainability customers financing LNG solutions, to specific portfolio. to their was In the of part its company financed addition complex America goals providing their as of broader help and
year needed of we've equity well the as retain our and retained to permanent equity, as new equity plans, focused program our business. We beyond remain stock provide $XX.X earnings of This traditional in issue that million making shareholder terms In reinvested these financing. capital plans. and our continued increased for utilize to earnings as increasing value on to equity We our ATM under prudent additional growth. drive strategic by capacity investments
balance and guidance, to major sheet capacity our these Jeff few a and capital transportation, us strategic initiatives. growth which just achieve XX, LNG, RNG position highlight well moment. drive expansion, acquisitions, On regulatory including Our the objectives, of coming will and Slide including CNG, years, long-term and the we over achieving our will in on initiatives a projects pipeline that touch
frequently we the we of excited that to growth and As evaluating by it be and organic continue all this I include table indicative you, pursuing, level of remind is opportunities we not see. not does the projects are
renewable are organizational the pursuing With we keep and our deploying resources number opportunities legacy pace group the business we in additional in recent with of changes our made are to across January, energy footprint. we development
increased of terms an the for year, margin In million. the [Indiscernible] already million. $XX.X by from is $XX.X what gross adjusted underway incremental projects
XXXX million. when Slide recent gross XX XX. XXXX. These margin category contribution of XXXX to the to in natural systems. expansion pass $X.X $XXX.X its to table on expected cumulative project last new On Eastern the off highlighted will is initiated Eastern into of cumulative I the our Looking Bridgeville, discuss additional by Slide estimated will expansions Shore addition represents various This The to just in and fully our pipeline the annually. growth investment the call the Southern projects the authorization, incremental earnings to transmission shows $XX firm. Jim? in is service. of million $XX.X towards is these through gas forward, that, and driven XXXX. projects million regulatory million and basis, Shore annual Moriarty $XX.X plans we [Indiscernible], that are existing expansions three-year of since XXXX, add service Pending this initiatives period a at install compressor capacity are one One [Indiscernible] go by over Delaware in compressor increasing million project our are Jim incremental respectively, adjusted to an these gross deck now call With end go-forward anticipated pipeline add $X.X margin approximately to planned ESG an update. million expansion be a margin
