Wed, May 7, 10:16 AM (16 days ago)
**ITC Holdings Corp. (ITC) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $440 million (up 8% YoY), driven by higher rate base and recoverable operating expenses. - **Net Income:** $127 million (up 3% YoY). - **Operating Income:** $242 million (up 7% YoY). - **Cash Flow from Operations:** $146 million (up 3% YoY). **Profit Margins:** - **Operating Margin:** 55% (up from 55% in Q1 2024). - **Net Margin:** 29% (down from 30% in Q1 2024). **Cash Flow:** - **Capital Expenditures:** $354 million (up from $264 million in Q1 2024). - **Net Cash Used in Investing Activities:** $349 million (up from $263 million in Q1 2024). - **Net Cash Provided by Financing Activities:** $187 million (up from $13 million in Q1 2024). **Earnings Changes:** - **Earnings per Share (EPS):** Not explicitly stated, but net income increased by 3%. **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by higher rate base and recoverable operating expenses. - **Expense Management:** General and administrative expenses increased by 21% due to higher share-based compensation. - **Capital Investment:** Significant investments in property, plant, and equipment to improve reliability and increase system capacity. **Trends and Uncertainties:** - **Regulatory Matters:** Ongoing legal proceedings and regulatory challenges, including the October 2024 Order and potential changes to transmission incentives policy. - **Economic Factors:** Inflation, supply chain disruptions, and global trade policy changes may impact future capital expenditures and operational costs. - **Environmental and Climate Risks:** Natural disasters and climate change may affect operations and financial performance. **Future Operations Impact:** - **Capital Expenditures:** Expected to continue at a high level to support long-term growth and reliability. - **Debt Management:** Utilization of revolving credit agreements and commercial paper programs to fund capital requirements. - **Regulatory Compliance:** Continued focus on meeting reliability standards and addressing new regulatory requirements. **Ticker:** ITC **Full Name:** ITC Holdings Corp. **Note:** Amounts are in thousands of USD unless otherwise specified.