Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 211

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 211
---
 increased sales volume was primarily driven by higher sales to residential and small commercial and industrial customers as well as increases within the data processing, hosting, and related services sector.  Partially offsetting the increased sales volume was an 8.2 percent decrease in cooling degree days compared to the same period of the prior year. 

Financial Results

The following table compares operating results for the three and nine months ended June 30, 2025 and 2024:

Summary Consolidated Statements of Operations(in millions) Three Months Ended June 30Nine Months Ended June 30 20252024ChangePercent Change20252024ChangePercent ChangeOperating revenues$3,306 $2,879 $427 14.8 %$9,758 $8,798 $960 10.9 %Operating expenses2,789 2,420 369 15.2 %8,112 7,369 743 10.1 %Operating income517 459 58 12.6 %1,646 1,429 217 15.2 %Other income, net29 14 15 107.1 %58 55 3 5.5 %Other net periodic benefit cost27 25 2 8.0 %79 74 5 6.8 %Interest expense307 267 40 15.0 %880 795 85 10.7 %Net income$212 $181 $31 17.1 %$745 $615 $130 21.1 %

44

Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

Operating Revenues.  Operating revenues for the three months ended June 30, 2025 and 2024, were $3.3 billion and $2.9 billion, respectively.  Operating revenues for the nine months ended June 30, 2025 and 2024, were $9.8 billion and $8.8 billion, respectively.  The following table compares TVA's operating revenues for the periods indicated: 

Operating Revenues by Customer Type(in millions)Three Months Ended June 30Nine Months Ended June 3020252024ChangePercent Change20252024ChangePercent ChangeOperating revenuesLocal power company customers$2,967 $2,596 $371 14.3 %