Thu, May 1, 8:58 PM (22 days ago)
**DPL LLC (DPL) and The Dayton Power and Light Company (AES Ohio) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** DPL reported $254.3 million in revenue, up 12.3% from $226.4 million in Q1 2024. AES Ohio reported $252.1 million in revenue, up 12.4% from $224.3 million in Q1 2024. - **Net Income:** DPL's net income was $2.7 million, a slight increase from $2.6 million in Q1 2024. AES Ohio's net income was $10.7 million, up 13.8% from $9.4 million in Q1 2024. - **Operating Income:** DPL's operating income was $28.2 million, up 24.2% from $22.7 million in Q1 2024. AES Ohio's operating income was $28.4 million, up 30.9% from $21.7 million in Q1 2024. - **Profit Margins:** DPL's operating margin was approximately 11.1%, while AES Ohio's was approximately 11.3%. - **Cash Flow:** DPL generated $34.9 million in cash from operations, up from $9.5 million in Q1 2024. AES Ohio generated $43.2 million in cash from operations, up from $16.9 million in Q1 2024. **Earnings Changes:** - **DPL:** Income before tax decreased by $0.5 million (11.9%) due to higher taxes, depreciation, and interest expenses, partially offset by higher transmission revenue and retail margin. - **AES Ohio:** Income before tax increased by $0.7 million (6.0%) due to higher transmission revenue and retail margin, partially offset by higher taxes, depreciation, and interest expenses. **Quarterly Performance Discussion:** - **Revenue Growth:** Both DPL and AES Ohio saw revenue growth driven by higher transmission investments and increased retail demand due to weather conditions. - **Operating Costs:** Operating costs increased due to higher depreciation, property taxes, and interest expenses, driven by capital expenditures and increased borrowings. - **Cash Flow:** Significant improvement in cash flow from operations, driven by higher net income and changes in working capital. **Trends and Uncertainties:** - **Regulatory Matters:** Ongoing regulatory proceedings and appeals could impact future financial results. - **Capital Expenditures:** Significant capital expenditure program planned for 2025-2027, totaling approximately $1.3 billion. - **Interest Rates:** Rising interest rates could increase financing costs for future debt. - **Environmental Matters:** Pending environmental matters could have material adverse effects if not resolved favorably. **Future Operations Impact:** - **Smart Grid Phase 2:** Pending approval for a comprehensive grid modernization project. - **Distribution Rate Case:** Pending rate case application to enhance safety, reliability, and resilience of the distribution system. - **Legislative Changes:** Potential impacts from new energy legislation (HB 15) pending governor's signature. **Ticker:** DPL **Company Name:** The Dayton Power and Light Company