Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 334

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 2
Chunk 334
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2,952 (9.3)%2.4 %Cooling Degree DaysThree Months Ended March 3112 1020.0 %9 10 (10.0)%33.3 %Six Months Ended March 31101 7142.3 %78 71 9.9 %29.5 %

Sales of electricity increased five percent for the three months ended March 31, 2025, as compared to the same period of the prior year.  The increased sales volume was primarily driven by increases within the data processing, hosting, and related services sector.  In addition, there was an 11 percent increase in heating degree days as compared to the same period of the prior year.  

Sales of electricity increased four percent for the six months ended March 31, 2025, as compared to the same period of the prior year.  The increased sales volume was primarily driven by increases within the data processing, hosting, and related services sector.  In addition, there was a 2 percent increase in heating degree days as compared to the same period of the prior year. 

Financial Results

The following table compares operating results for the three and six months ended March 31, 2025 and 2024:

Summary Consolidated Statements of Operations(in millions) Three Months Ended March 31Six Months Ended March 31 20252024ChangePercent Change20252024ChangePercent ChangeOperating revenues$3,532 $3,154 $378 12.0 %$6,452 $5,919 $533 9.0 %Operating expenses2,816 2,573 243 9.4 %5,323 4,949 374 7.6 %Operating income716 581 135 23.2 %1,129 970 159 16.4 %Other income, net12 18 (6)(33.3)%29 41 (12)(29.3)%Other net periodic benefit cost27 26 1 3.8 %52 49 3 6.1 %Interest expense293 266 27 10.2 %573 528 45 8.5 %Net income$408 $307 $101 32.9 %$533 $434 $99 22.8 %

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