Financial PerformanceLeverage still high, but declining, with net debt to EBITDA leverage standing at 3.9x, down from 4.2x last quarter and on track for ~3.5x at year-end.
LeadershipA CEO announcement establishes permanent leadership and cost/capex savings are supporting margins and improving FCF conversion.
Market GrowthElectric demand is growing on the margin, and non-union electric revenue saw year-over-year growth aided by storm revenue.