Tennessee Valley Authority reported third-quarter 2026 results with revenue essentially flat year over year and a modest decline in net income. For the three months ended March 31, 2026, operating revenue was $3.546B and net income was $392M, compared with $3.532B and $408M a year earlier.
Financial Highlights
- Revenue was $3.546B for Q3 2026 (three months ended Mar 31, 2026), essentially flat versus $3.532B in the year‑ago quarter (0.4%).
- Net income was $392M for Q3 2026, down from $408M in the year‑ago quarter ( (3.9%) ).
- Diluted earnings per share: Not provided in Part I Items 1–2; metric omitted.
Business Highlights
- Six-month operating revenues rose 2.2% year over year, driven by higher sales volume and fuel cost recovery mechanisms.
- Volume gains were concentrated in data processing, hosting and related services, increasing sales across direct and LPC channels.
- Fuel and purchased power costs increased due to higher natural gas prices, partially offset by lower operating and maintenance expenses from IRA credits.
- TVA increased its own generation (notably nuclear) which reduced reliance on purchased power; new combustion turbine and battery projects are in development.
- Regulatory and project milestones during the period included Browns Ferry license renewal, Cumberland combined-cycle pre-commercial start, EPA CCR rule impacts and finalization of an SMR environmental impact statement.
Original SEC Filing:
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