good you morning Patti and Thank everyone.
get details, Mark into Tuesday Travis like their child, Uphaus I'd wife to Marilyn the share news Uphaus I welcomed IR and seventh that Christine the our morning. wonderful his team from on Before
in Michigan. Uphaus best So wishing our our very headquarters Jackson, we me are from family
we're highlighted report As $X.XX $XXX or up to X% XXXX year-over-year. of our income adjusted per share Patti pleased net million
and at were scheduled legacy a in recognition co-workers potential just select settlement adjusted of estimated as EPS well severance to an expense from of as Our legal costs excludes retired XXXX non-recurring current facilities our coal retention be the to our including matters. items, related
which results three quarters largely the gas were case heavy of and September, utility rate offset partially driven we the year. particularly our of XXXX were the by outcomes in electric by XXXX activity, constructive first storm settlement in rate received order January in the in
performance Our raised CMS to due in Energy $X.XX segment's [ph] largely guidance low at financings cost solid by aggregate, EnerBank. from and non-utility
XXXX generated for $X.X our review addition grew EPS customer X% financial to growth, you'll we on that XX, adjusted of approximately of targets full in note flow. achieving dividend our suite slide portability commensurately cash and operating annual and we billion As
steady and financing in balance is which equity sheet, continue XX.X% flow years year-end as XXXX. to Our fortify and the required our cash debt our strategy ratio, generation FFO evidenced no over approximately strong to by conservative at issuances
for all level while in utilities. bills targets below of Lastly, electric by billion record our or gas affordability the businesses, inflation at accordance $X.X with at keeping investing met both capital effectively self-funding we our model, approximately the of customer and a
X% from vast from adjusted $X.XX are segments. steady annual X% drive contribution per our to Moving growth we Patti of XXXX to noted, the performance financial business which raising earnings of on with $X.XX our we to actuals. majority share, non-utility to XXXX, utility implies expect as Unsurprisingly, the consolidated XXXX usual guidance off our
enterprises we from XXXX. second to gain of growth consolidated the absence continue to on guidance sale midpoint given of EPS All at a that quarter note item assets XXXX down the is our EPS the in target collect of range results One the in is will yearend. slightly their
this given the normal year-over-year XX, note XXXX chart the normal weather, negative of to guidance elaborate estimated in waterfall plan To the slide than in an to as colder business. EPS range, gas achieve experienced we weather the $X.XX, for which our case our on on amounts variance in a benefit on path glide you'll XXXX
storm XXXX. We largely of fully lower CE the reduction initiatives, offset other such level the will in as anticipate year, storm absence of Way expected expenses by and year-over-year last activity driven weather of favorability, the an favorable after sources unprecedented restoration cost
to opportunity plan we pension It an fully that this non-operating additional fund on EPS capitalized risk is worth provides savings earlier and benefit defined also month, cost our which mitigation. noting,
we rate to relief, anticipate approximately EPS pickup in of on $X.XX XXXX. Moving
QX in energy rate the has we approved the first our and and approval this order during mentioned gas As Commission, of about our renewable pickup received by XXXX. two-thirds plan, of the the call of already September quarter in been
rate expected in in relief driven final year, case makes October pending our a the order of expect effectively gas in this which will our contribution up EPS We XXXX. balance of
While year start we QX to of this file electric the an year, in case case XXXX. will in plan that test for
variables. sales, Lastly, we apply other conservative our around financings usual assumptions and
throughout As year, investors. and objectives meeting will conditions to the our mitigate new risk to of of the always, adapt the and benefit likelihood we and customers circumstances and operational increase financial to
work on XX. XXXX components toward our of we entire opportunities, billion core the we reduction our on slide As delivering structure, which within focused cost target, EPS cost remain $X.X illustrated are
For long-term managed customer a to our headroom utility. have achieve to substantial to risk create in we and investments support and bills well electric our cost mitigate interior and planned gas the unplanned over decade, at savings
fleet, price our of lean operating gas structure. are numerous As the enabled we believe savings high capital but These our and cost Way. there coal PPAs, system and limited maturation and continued our to continue the as are throughout XXXX at systems, exploration looked beyond, electric our include the of modernize opportunities cost to retirement we distribution the of not reduction opportunities we CE
These on the sustainable low opportunities of customers' relative customer right risk the will as basis, an household keep provide for sources well hand mitigation, our investment Michigan depicted which as and plan, absolute as of chart side strategy to funding other will page. interior long-term in a in staples the bills on
normalized sales. to, on weather Moving
slide Grand territory, which statistics discussed past, economic the particularly in XX. our as anchored positive, by electric on in by of Rapids, growing the Michigan fastest is cities we've the one service in left hand of the upper As evidenced conditions remained country, in corner the
when Michigan's we it not to passive comes are economy, And participants.
nearly we in state In to load efforts key collaborate industrial drive billions in of of to throughout new our attracted territory development dollars XXX investing with our the economic efforts. the through service across activity annually, addition fact, state megawatts These have XXXX. since stakeholders directly electric
supported of the investment And model. will efforts, by in more support prosperous our XXXX offers and we XXXX $X.X alone, benefits to billion A contracts bring economic than multiple Michigan, our Michigan. in jobs, over signed business to development
it bills reducing support term, our headroom our drives volumetric the customer rates. and longer-term which sales, in creates financial objectives it In near by
spillover our also As commercial favorable we residential of overtime to form mentioned effect the steady higher industrial in past, positive and growth margin, and in Fed load count a continue of see segments the activity on customer trends.
chart and and respectively, you'll residential the electric five X.X% As of we've hand and weather for X% energy seen the on normalized the note past businesses efficiency in side average when of years gas over load growth the slide, the for programs. right our
inflation. XXXX discretionary solid financial another and to flow operating at cash contribution, pension solid EPS and the X% our exclusive summarize X% expect for beyond, year To customer and or we affordability below growth, customer targets of prices aforementioned growth, adjusted of
metrics. to equity the previously XXXX our in you'll equity perspective, From noted of means we issuance $XXX And credit deferral are a to balance needs as million approximately grade target in solid our investment note, due sheet XXXX. continue
roughly our expect in to needs million equity XXXX. We year be per $XXX
which completed be beyond, year. equity And through program, during of can along which with shelf half likely our will first this issuance the file ATM our
received stakeholders has benefit well as leading financial and prices electric past gas on and and served our clean performance. model reliable affordable the investors industry safe, Our our in consistent from customers
for XX, have key your sensitivity on variables refreshed assumptions. On we slide analysis our modeling
planning As probability variances reasonable you'll our and of note minimized. risk with are mitigation, plan the from large assumptions robust
we fuel view be always mandate or cost, as mitigate in warning sources for risk And it the to year due will they volatility the otherwise. our be every this There you accordingly. and outcomes regulatory of weather, business,
to q&a. And it back hand with remarks that, concluding her I'll Patti for before
