Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
|---|
| We delivered another solid quarter of growth, and we remain on track for a strong 2023 |
| We have fuel upside |
| So good growth, just good executable capital also at American Transmission Company and we're 60% of that |
| We're good |
| Additionally, timing of fuel expense improved our earnings by $0.13 and lower day-to-day O&M resulted in a $0.02 improvement |
| We're good |
| And it's a very positive thing overall for our cash sources |
| Over the next five years, we'll continue to make great progress in transforming our power generation fleet and reducing carbon dioxide emissions |
| I mean, we have just tremendous opportunity in front of us |
| So about $400 million of that really just goes to support, really strong credit metrics at all of our utilities |
| We feel good about the -- hitting the target credit metrics |
| So the future is bright, the investment opportunity is long, strong, and highly executable |
| And as we look inside the numbers, we see an encouraging upward trend in Wisconsin's labor force participation of this year |
| We've been projecting all year a very strong fourth quarter, and in our minds, that's still very much intact |
| These developments highlight the strength and the potential of the Wisconsin economy and underscore the need for the investments we're outlining in our five-year plan |
| Residential usage was up 1.3% and is ahead of our forecast through the first nine months of the year |
| We are very excited about the investment opportunities ahead of us |
| We have a very large O&M upside in the fourth quarter, so we feel very good about the fourth quarter projections |
| And then secondly, we think, and we'll let Xia and Scott give you their view, but we think the fact that we're going to be issuing equity to support this growth plan, will be viewed quite favorably |
| In closing, as shown on the last page of the earnings package, through our capital allocations, we expect the percent of assets invested in our regulated electric businesses to grow faster |
| And as we fund this growth with an appropriate financing package, we project our earnings per share will continue to rise at a compound annual rate of 6.5% to 7% a year |
| Excellent |
| Having the LNG tank that we had at our South Oak Creek plant actually really helped the system that particular day |
| Excellent |
| Overall, we're on track and the company continues to perform at a very high level |
| How are you? Gale Klappa We're good |
| Our focus on executing the fundamentals of our business is creating real value for our customers and our stockholders |
| It's just -- we have a tremendous opportunity here now to reallocate capital to our regulated enterprise |
| It's all good |
| This is the largest capital plan in our history, an increase of $3.3 billion above our previous five-year plan, that's more than a 16% increase |
| Statement |
|---|
| This was driven by lower sales volumes to large commercial and industrial customers |
| First, weather had an estimated one penny negative impact quarter-over-quarter |
| The LNG and gas storage, the LNG is really making sure we have the capacity and putting those units in the state of Wisconsin, just like over Christmas day weekend there was gas supply challenges |
| If we hadn't had LNG storage right here that we could direct eject into our gas distribution networks, we would've had some real issues |
| First of all, just to clarify, the parent is on negative outlook |
| Retail electric deliveries in Wisconsin, excluding the iron ore mine, were down eight tenths of a percent quarter-over-quarter |
| Finally, you'll see that earnings at our Corporate and Other segments decreased $0.08 largely due to higher interest expense |
| Regarding our investment in American Transmission Company, earnings decreased $0.05 compared to the third quarter of 2022 |
| So again, I would look at -- I mean, I think the O&M numbers were a bit distorted because of things that happened that deliberately, the actions that we took in the fourth quarter last year |
| And I'm sure you're not looking to front run your meeting with the rating agencies, but if I could focus on, I think S&P right now has you on negative outlook |
| Earnings at our Energy Infrastructure segment decreased one penny in the third quarter of 2023 compared to the third quarter of 2022 |
| Higher depreciation and amortization expense and interest expense added another $0.09 of negative variance |
| And then just there's been some confusion around in the market |
| I mean, as you know, there was a very significant cold snap |
| This was mostly driven by lower wind production, partially offset by tax credits on projects that we placed into service |
| The unemployment rate in Wisconsin stands at 3.1%, continuing a long running trend below the national average |
| And many parts of the country had rolling blackouts |
| And when you think about the EPA rules going forward, if it was on coal, you'd have to put in carbon capture or do something with hydrogen, and carbon capture would be extremely expensive |
| So this simply kind of puts us back in a position where I think everybody else in the industry already is |
| At the same time, the percent of assets in gas distribution and in contracted renewables is expected to decline |
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