“allowing us to remain on track for full year operating earnings of $2.64 to $2.74 per share with the goal to be at the midpoint or better.”

In context

“to year-over-year revenue shaping and O&M timing including higher storm and IT project related spend in the first quarter of 2024. We expect the revenue shaping and O&M timing to reverse in the balance of the year. These results are slightly ahead of our indications on the fourth quarter call primarily due to this timing of O&Ms as well as timing of tax repairs. As we look ahead, our second quarter earnings are expected to be approximately 14% of the midpoint of our projected full year earnings guidance range, which contemplates partial reversal of the ComEd timing along with normal weather and storm activity. In combination with Q1 results, this would result in recognizing 48% of projected full year earnings in the first half of the year, consistent with seasonal shaping in prior years, allowing us to remain on track for full year operating earnings of $2.64 to $2.74 per share with the goal to be at the midpoint or better. Finally, we are reaffirming our annualized earnings growth rate of 5% to 7% through 2028 with the expectation to be at the midpoint or better of that range. Turning to Slide 6, we currently have two base rate cases open at Pepco Holdings. The Delmarva Power gas distribution rate case filed last September remains on track with interim rates, which went into effect on April 20 subject to refund. The rate case seeks to recover continued reliability investments such as aging piping upgrades and upgrades to its LNG plant, which helps protect customers from supply price volatility during peak periods. It will be open for intervener and rebuttal testimony in July and September before evidentiary hearings are convened in November. An order is expected in the first quarter of 2026. Our second open”