Business Model New Fortress Energy generates revenue through the operation of natural gas and liquefied natural gas (LNG) infrastructure, an integrated fleet of ships, and logistics assets. Key activities include delivering turnkey energy solutions to global markets, supplying gas to power plants, and vessel chartering. Revenue Sources * Operating revenue (e.
Business Model Sunnova generates revenue through customer agreements and incentives, solar energy system and product sales, loan revenue, and service revenue. Revenue Sources * Customer agreements and incentives (lease, PPA, SREC, incentives) * Solar energy system and product sales (cash sales, direct sales, inventory sales) * Loan revenue * Service revenue Income Statement Analysis
Business Model NuScale generates revenue primarily through engineering, design, and licensing activities related to its SMR technology, particularly through contracts like the FEED Phase 2 study with RoPower. Revenue Sources * Payments for activities in support of RoPower's development of their power plants. * Licensing of technology (as part of
Business Model California Resources Corporation (CRC) generates revenue from the sale of oil, natural gas, NGLs, electricity, and from marketing purchased commodities. They are also developing a carbon management business. Revenue Sources * Oil, natural gas, and NGL sales (primarily from San Joaquin Basin, Los Angeles Basin, and Sacramento Basin). * Marketing
Business Model Vistra generates revenue through retail electricity sales and power generation, leveraging a diversified portfolio of natural gas, nuclear, coal, solar, and battery energy storage facilities. Revenue Sources * Retail electricity sales to approximately 5 million residential, commercial, and industrial customers. * Power generation and sales into wholesale markets. Income Statement
Business Model Edison International generates revenue primarily through its subsidiary, Southern California Edison (SCE), by providing electricity to over 5 million customer accounts in a 50,000 square-mile service area. Revenue is also generated through integrated energy management and sustainability solutions provided by Trio to large commercial, industrial, and institutional
Business Model Evergy generates revenue through the regulated sale of electricity, transmission services, and wholesale power transactions to its 1.7 million customers in Kansas and Missouri. Revenue sources are categorized by customer class such as Residential, Commercial, Industrial, and Wholesale. Revenue Sources * Residential customers (37% of total revenues) * Commercial
Business Model Mosaic generates revenue primarily through the sale of concentrated phosphate and potash crop nutrients and feed ingredients. They operate through three segments: Potash, Phosphates, and Mosaic Fertilizantes. Revenue Sources * Potash: Sales of potash-based fertilizers. * Phosphates: Sales of phosphate-based fertilizers and feed ingredients. * Mosaic Fertilizantes: Sales of fertilizers in
Business Model AES generates revenue through non-regulated and regulated electricity sales. The non-regulated revenue comes from the Renewables SBU, Energy Infrastructure SBU and New Energy Technologies SBU. The regulated revenue is generated from US utilities businesses such as AES Indiana and AES Ohio. Revenue Sources * Non-Regulated Revenue: Generated from electricity
Business Model FirstEnergy generates revenue primarily through the distribution, transmission, and generation of electricity. The company operates regulated utilities in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Revenue is derived from residential, commercial, and industrial customers. Revenue Sources * Electric sales to residential customers. * Electric sales to commercial
Business Model APA Corporation generates revenue primarily through the exploration and production of oil, natural gas, and natural gas liquids in the United States, Egypt, and the United Kingdom, with exploration activities in Suriname and elsewhere. Revenue is also generated through purchased oil and gas sales and third-party gas trading
Business Model Veren generates revenue through the production and sale of crude oil, condensate, NGLs (natural gas liquids), shale gas and natural gas. Revenue Sources * Crude oil and condensate sales * NGLs sales * Natural gas sales Income Statement Analysis * Oil and gas sales increased by 9% from Q4 2023 to Q4
Business Model Bloom Energy generates revenue from four primary sources: product sales, installation, service agreements, and electricity generation. Revenue Sources * Product revenue: Sales of Bloom Energy Servers. * Installation revenue: Revenue from installing the energy servers at customer sites. * Service revenue: Recurring revenue from long-term service agreements. * Electricity revenue: Revenue from
Business Model Sunrun generates revenue primarily through customer agreements and incentives, and solar energy systems and product sales. Revenue Sources * Customer agreements and incentives: Revenue from long-term agreements, amortization of prepaid systems, and incentive revenue (including Investment Tax Credits when monetized). * Solar energy systems and product sales: Revenue from direct
Business Model NRG Energy generates revenue primarily through the sale of electricity and natural gas to residential, commercial, industrial and wholesale customers, as well as the sale of smart home products and services. Revenue Sources * Retail revenue (sale of electricity and natural gas to end-use customers) * Energy revenue (wholesale power
Business Model MARA generates revenue primarily through mining Bitcoin and, to a lesser extent, providing hosting services. They are transitioning to a vertically integrated model. Revenue Sources * Bitcoin mining: Primarily through block rewards and transaction fees. * Hosting services: Revenue generated from providing hosting services to other entities (result of site
Business Model ONEOK, Inc. generates revenue primarily through fee-based services in gathering, processing, storing, transporting, and marketing of natural gas, natural gas liquids (NGLs), refined products, and crude oil. The company operates through four main segments: Natural Gas Liquids, Refined Products and Crude, Natural Gas Gathering and Processing, and Natural
Business Model Diamondback Energy, Inc. (FANG) generates revenue primarily through the sale of oil, natural gas, and natural gas liquids (NGLs) from its operations in the Permian Basin. Revenue Sources * Oil sales constitute a significant portion of the revenue. * Natural gas sales contribute to the revenue stream. * NGL sales add
Business Model Coterra Energy generates revenue primarily through the sale of oil, natural gas, and natural gas liquids (NGLs) from its operations in the Permian Basin, Marcellus Shale, and Anadarko Basin. Revenue Sources * Oil sales: accounted for $713 million in Q4 2024 and $2,953 million for the full year
Business Model PSEG operates primarily through its regulated utility, PSE&G, which generates revenue by providing electric and gas services to approximately 2.4 million electric and 1.9 million natural gas customers in New Jersey. PSEG Power generates revenue through the sale of power from its nuclear generation
Business Model First Solar generates revenue primarily through the sale of photovoltaic (PV) solar modules. Revenue Sources * Net sales for the fourth quarter were $1.5 billion, an increase of $0.6 billion from the prior quarter, primarily due to increased module sales. * Net sales for the full year 2024
Business Model Pinnacle West Capital Corp. (PNW) generates revenue primarily through its subsidiary, Arizona Public Service (APS), by providing retail electricity service to approximately 1.4 million Arizona homes and businesses. Revenue Sources * Retail Residential: Revenue from electricity sales to residential customers. * Retail Business: Revenue from electricity sales to commercial
Business Model Sempra generates revenue through its three main business segments: Sempra California (natural gas and electric utilities), Sempra Texas Utilities (electric transmission and distribution), and Sempra Infrastructure (energy-related businesses, including LNG). Revenue comes from regulated utilities in California and Texas, and contracted assets in infrastructure. Revenue Sources * Natural gas
Business Model Kosmos Energy generates revenue primarily through the sale of oil and gas from its assets in Ghana, Equatorial Guinea, Mauritania, Senegal, and the Gulf of America. Revenue Sources * Oil sales contribute the largest portion of revenue. * Gas sales are a growing revenue stream, particularly with the commencement of
Business Model Clearway Energy generates revenue primarily through the sale of electricity and capacity from its portfolio of renewable and conventional generation assets. Revenue is derived from power purchase agreements (PPAs), resource adequacy (RA) agreements, and energy sales in the wholesale market. Revenue Sources * Power Purchase Agreements (PPAs): Long-term contracts
Business Model Riot Platforms generates revenue primarily through Bitcoin mining and engineering services. They are also exploring opportunities in the AI/HPC sector to maximize the value of their power assets. Revenue Sources * Bitcoin Mining: Revenue from mining Bitcoin. * Engineering: Revenue from engineering services and manufacturing. Income Statement Analysis * Total
Business Model BWXT generates revenue through two main segments: Government Operations and Commercial Operations. Revenue Sources * Government Operations: Primarily through naval nuclear component production, microreactors volume, special materials revenue, and long-term technical services contracts. * Commercial Operations: Primarily through nuclear components, fuel and fuel handling, medical sales, and field services activity.
Business Model TXNM Energy delivers energy to homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. Revenue Sources * Electric Operating Revenues from PNM (New Mexico) * Electric Operating Revenues from TNMP (Texas) Income Statement Analysis * Electric Operating Revenues increased by 1.65% year-over-year, indicating growth
Business Model Southern Company generates revenue primarily through electricity sales by its traditional electric operating companies, wholesale electricity sales by Southern Power, and natural gas distribution by Southern Company Gas. Revenue Sources * Retail electricity sales by Alabama Power, Georgia Power, and Mississippi Power. * Wholesale electricity sales by Southern Power. * Natural
Business Model Targa Resources Corp. generates revenue through sales of commodities and fees from midstream services. The Gathering and Processing segment derives revenue from gathering, processing, and sale of natural gas, crude oil, condensate, and NGLs. The Logistics and Transportation segment generates revenue from transporting, storing, fractionating, terminaling, and marketing
Business Model CenterPoint Energy generates revenue primarily through regulated electric transmission and distribution, power generation, and natural gas distribution operations. Revenue Sources * Electric Transmission and Distribution: Revenue from REPs based on electricity delivered and from municipalities, electric cooperatives, and other distribution companies. * Natural Gas Distribution: Revenue from regulated intrastate natural
Business Model Alliant Energy generates revenue primarily through regulated electricity and natural gas service to customers in the Midwest. Revenue Sources * Electric utility revenues from residential, commercial, and industrial customers, as well as sales for resale (wholesale, bulk power). * Gas utility revenues from residential, commercial, and industrial customers, and transportation/
Business Model Quanta Services provides specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline, and energy industries. Services include designing, installing, repairing, and maintaining energy, technology and communications infrastructure. Revenue Sources * Electric Power Infrastructure Solutions * Renewable Energy Infrastructure Solutions * Underground Utility and Infrastructure Solutions Income Statement Analysis * Revenue
Business Model Occidental Petroleum Corporation (OXY) generates revenue primarily through the exploration, development, and production of oil and natural gas. Additional revenue is derived from its Chemical segment (OxyChem), which produces basic chemicals, and from its Midstream and Marketing segment, which provides flow assurance and optimizes the value of Oxy&
Business Model Franklin Electric generates revenue through three primary segments: Water Systems, Energy Systems, and Distribution. The company sells products such as submersible motors, pumps, electronic controls, and related parts and equipment for use in a variety of applications including groundwater, fueling systems, and distribution. Revenue Sources * Water Systems: Sales
Business Model Ternium generates revenue primarily through the production and sale of steel and mining products to various industries in the Americas, including automotive, construction, manufacturing, and the energy sector. Revenue Sources * Sales of steel products to customers in Mexico, Brazil, the Southern Region, and other markets. * Sales of mining
Business Model Entergy Corporation generates revenue primarily through the sale of electricity to residential, commercial, industrial, and governmental customers in Arkansas, Louisiana, Mississippi, and Texas. Revenue Sources * Sales of electricity to residential customers * Sales of electricity to commercial customers * Sales of electricity to industrial customers * Sales of electricity to governmental
Business Model Duke Energy generates revenue primarily through its regulated electric and gas utilities operations, serving approximately 8.6 million electric customers and 1.7 million gas customers across six states in the U.S. Revenue Sources * Regulated electric utilities serving residential, commercial, industrial, and wholesale customers. * Regulated natural gas
Business Model AEP generates revenue primarily through the generation, transmission, and distribution of electricity to retail and wholesale customers. Revenue is also generated through retail energy supply business, wholesale energy trading and marketing business. Revenue Sources * Retail Revenues: Sales to residential, commercial, and industrial customers within AEP's service
Business Model DTE Energy is a diversified energy company involved in the development and management of energy-related businesses and services nationwide. It generates revenue through its electric and gas utilities, custom energy solutions, renewable energy generation, and energy marketing and trading. Revenue Sources * Electric utility serving 2.3 million customers
Business Model Ameren Corporation generates revenue primarily through the sale of electric and natural gas services to residential, commercial, and industrial customers in Missouri and Illinois through its rate-regulated utility subsidiaries, Ameren Missouri and Ameren Illinois. Revenue Sources * Electric utility services, including generation, transmission, and distribution. * Natural gas utility services,
Business Model PPL Corporation generates revenue primarily through regulated electricity and natural gas delivery services in Pennsylvania, Kentucky, and Rhode Island. Revenue Sources * Regulated electricity transmission and distribution services. * Regulated natural gas distribution services. Income Statement Analysis * Operating revenues increased by 8.85% compared to Q4 2023 due to higher
Business Model Generac generates revenue primarily through sales of power generation equipment, energy storage systems, energy management devices and solutions, and other power products serving the residential, light commercial, and industrial markets. Revenue Sources * Sales of residential products including home standby generators, portable generators, energy storage systems, and smart thermostats.
Business Model Fluence Energy generates revenue primarily through intelligent energy storage and optimization software for renewables and storage. They derive revenue from energy storage products and solutions contracts, service contracts, and digital software contracts. Revenue Sources * Energy storage products and solutions contracts * Service contracts (maintenance, monitoring, etc.) * Digital software contracts
Business Model Unitil generates revenue primarily through the distribution of electricity and natural gas to residential, commercial, and industrial customers in New Hampshire, Massachusetts, and Maine. A significant portion of revenue is derived from regulated electric and natural gas distribution utility operations. Revenue Sources * Electric distribution: Revenue from Unitil'
Business Model RGC Resources generates revenue primarily through the sale and distribution of natural gas to residential, commercial, and industrial customers through its subsidiary Roanoke Gas. Revenue Sources * Natural Gas Sales (Residential, Commercial, Transportation, and Interruptible) * Alternative Revenue Programs (Weather Normalization Adjustment, SAVE Plan, RNG) * Non-Utility Activities Income Statement Analysis
Business Model BP generates revenue primarily through sales of oil and gas, refining products, and services through its gas & low carbon energy, oil production & operations, and customers & products segments. Revenue Sources * Sales of crude oil and refined products * Sales of natural gas, LNG, and NGLs * Revenue from
Business Model Energy Transfer LP generates revenue through a diversified portfolio of energy assets, including natural gas midstream, intrastate and interstate transportation and storage assets, crude oil, natural gas liquids (NGL), and refined product transportation and terminalling assets; and NGL fractionation. Revenue Sources * Natural Gas Transportation and Storage (Interstate and
Business Model USA Compression Partners generates revenue primarily through contract operations, parts and service, and related party transactions. The majority of revenue comes from providing midstream natural gas compression services to infrastructure applications. Revenue Sources * Contract operations: Largest portion of revenue, derived from compression services provided under contract. * Parts and
Business Model ORIX Corporation generates revenue through a diversified portfolio of businesses, including finance, operations, and investments across various segments such as corporate financial services, real estate, PE investment, environment & energy, insurance, banking & credit, aircraft & ships, and operations in the USA, Europe, Asia, and Australia. Revenue Sources
Business Model NGL Energy Partners LP operates through three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. Revenue Sources * Water Solutions: Transportation, treatment, recycling, and disposal of produced and flowback water. * Crude Oil Logistics: Purchase and transport crude oil to refineries and trade hubs, provides storage and terminaling. * Liquids
Business Model Plains All American Pipeline, L.P. (PAA) generates revenue through owning and operating midstream energy infrastructure and providing logistics services for crude oil and natural gas liquids (NGL). They have an extensive network of pipeline gathering and transportation systems, terminalling, storage, processing, fractionation, and other infrastructure assets. Revenue
Business Model Graham Corporation generates revenue through the design and manufacture of fluid, power, heat transfer, and vacuum technologies for various industries, including defense, space, energy, and process industries. Revenue Sources * Sales to the defense market (11% increase in Q3 FY25) * Higher chemical/petrochemical sales due to increased sales of
Business Model GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. Revenue Sources * Net sales for the fourth quarter of 2024 were $134 million * Net sales for the year ended December 31,
Business Model Equinor generates revenue through the development, production, and marketing of various forms of energy, including crude oil, natural gas, refined products, power, and renewable energy sources. Revenue Sources * Crude Oil Sales * Natural Gas Sales (European piped gas and North American Gas) * Refined Products Sales * Natural Gas Liquids (NGL)
Business Model Suncor Energy is an integrated energy company with operations spanning oil sands development, production, and upgrading; offshore oil production; petroleum refining; and retail and wholesale distribution networks. Revenue Sources * Revenues are generated from the sale of upgraded synthetic crude oil, non-upgraded bitumen, refined petroleum products, and byproducts. Revenue
Business Model CMS Energy generates revenue primarily through its electric and gas utility operations, serving residential, commercial, and industrial customers in Michigan. It also owns and operates independent power generation businesses. Revenue Sources * Electric Utility: Revenue from the sale of electricity to customers. * Gas Utility: Revenue from the sale of
