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Operating Revenue by Segment
Splits total operating revenue across business lines so you can see which segments—distribution, transmission, storage, or others—are expanding or contracting and how company strategy and regulation shape top-line growth.Distribution revenue shows sustained multi‑year growth with pronounced seasonality, driven by customer additions, heavy safety/reliability capex and implemented rate increases—supporting management’s raised FY26 guidance. Pipeline & Storage is a steadier, accelerating revenue stream that benefits from APT throughput gains and wider spreads (management noted +$16M YTD and higher spreads captured), but remains exposed to Permian/Waha basis volatility. The growing negative “Elimination” line reflects larger intercompany/reclassification and Rule 7.7102 deferrals that can shift reported segment results and create timing noise—monitor rate‑case implementation and deferral realization.
Date | Distribution | Pipeline and Storage | Elimination |
|---|---|---|---|
Jun 30, 2026 | $774.66M | $333.05M | -$228.65M |
Mar 31, 2026 | $1.88B | $289.29M | -$204.57M |
Dec 31, 2025 | $1.26B | $286.63M | -$202.87M |
Sep 30, 2025 | $666.40M | $278.52M | -$207.44M |
Jun 30, 2025 | $767.13M | $272.39M | -$200.75M |
Mar 31, 2025 | $1.88B | $259.00M | -$191.03M |
Dec 31, 2024 | $1.11B | $255.39M | -$188.73M |
Sep 30, 2024 | $587.41M | $252.69M | -$182.16M |
Jun 30, 2024 | $633.21M | $250.68M | -$182.34M |
Mar 31, 2024 | $1.59B | $223.49M | -$165.44M |