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Adjusted Funds from Operations by Segment
Reflects cash generated by each segment after accounting for operating expenses and capital expenditures, indicating the company's ability to fund dividends and growth initiatives.Data is the clearest growth engine—sustained double‑digit percentage gains reflect acquisitions and >200 MW of data centers coming into earnings—while Midstream and Utilities show modest, steady uplifts tied to commodity strength and rate‑base additions. Transport is the most volatile, weakened by recent asset sales. The massive Dec‑2025 spike is a one‑off from capital‑recycling/transaction timing (partnership closes and disposals) and shouldn’t be treated as run‑rate; management’s 10%+ FFO guidance hinges on organic commissioning and timely JV ramps (Intel timing is a key risk).
Date | Utilities | Transport | Midstream | Data Infrastructure | Corporate |
|---|---|---|---|---|---|
Jun 30, 2026 | $171.00M | $243.00M | $154.00M | $141.00M | -$142.00M |
Mar 31, 2026 | $181.00M | $220.00M | $170.00M | $139.00M | -$114.00M |
Dec 31, 2025 | $191.00M | $144.00M | $147.00M | $132.00M | -$129.00M |
Sep 30, 2025 | $171.00M | $165.00M | $112.00M | $128.00M | -$116.00M |
Jun 30, 2025 | $166.00M | $214.00M | $126.00M | $99.00M | -$123.00M |
Mar 31, 2025 | $172.00M | $254.00M | $122.00M | $94.00M | -$105.00M |
Dec 31, 2024 | $174.00M | $212.00M | $120.00M | $90.00M | -$118.00M |
Sep 30, 2024 | $168.00M | $209.00M | $107.00M | $77.00M | -$129.00M |
Jun 30, 2024 | $162.00M | $220.00M | $99.00M | $71.00M | -$112.00M |
Mar 31, 2024 | $172.00M | $255.00M | $137.00M | $63.00M | -$115.00M |