2026 Earnings Guidance

For 2026, management guided diluted EPS of $5.22–$5.62 (midpoint $5.42) with a projected 12 % ROE at the midpoint. The company expects a 14 % electric earnings growth from rate‑base recovery and a 36 % decline in plastics earnings as PVC prices are projected to be 20 % below 2025 levels. A five‑year capex plan of $1.9 billion includes renewables and a 75 MW/4‑hour battery (~$120 million). The company will retire $80 million of parent‑level debt maturing in 2026, leaving no outstanding parent‑level debt, and will not require external equity until at least 2030.