Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 413

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 5
Chunk 413
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 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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Operating Revenues.  Operating revenues for the three months ended March 31, 2025 and 2024, were $3.5 billion and $3.2 billion, respectively.  Operating revenues for the six months ended March 31, 2025 and 2024, were $6.5 billion and $5.9 billion, respectively.  The following table compares TVA's operating revenues for the periods indicated: 

Operating Revenues by Customer Type(in millions)Three Months Ended March 31Six Months Ended March 3120252024ChangePercent Change20252024ChangePercent ChangeOperating revenuesLocal power company customers$3,199 $2,842 $357 12.6 %$5,815 $5,329 $486 9.1 %Industries directly served245 221 24 10.9 %475 438 37 8.4 %Federal agencies and other34 30 4