Utilities Earnings Q4 2025 Roundup
Utilities Earnings Q4 2025 Roundup: 4 Companies Analyzed
Sector Overview
The Utilities sector saw 4 companies report earnings this quarter. Average revenue growth across the sector was +30.7%, signaling continued strength in the industry. On average, stocks moved -1.0% on earnings day, with 2 out of 4 companies seeing positive reactions.
Combined sector revenue totaled $18.7B for the quarter.
Company-by-Company Results
| Company | Ticker | Revenue | YoY Change | Earnings Day Move |
|---|---|---|---|---|
| American Electric Power | AEP | $5.0B | +7.3% | +3.4% |
| Clearwater Analytics | CWAN | $205M | +77.1% | -6.5% |
| General Electric Company | GE | $12.7B | +17.6% | -7.4% |
| Monolithic Power Systems | MPWR | $751M | +20.8% | +6.4% |
Top Performers
Clearwater Analytics (CWAN) led the sector with revenue growth of +77.1%. Strong growth in core ARR, successful cross-selling, and GenAI adoption position CWAN as a leader in investment management technology.
Monolithic Power Systems (MPWR) led the sector with revenue growth of +20.8%. Broad-based AI data center, automotive, and interconnect content gains, supported by expanding capacity and a shift to higher-value system and module solutions, drive sustained above-industry growth with improving margins and operating leverage.
General Electric Company (GE) led the sector with revenue growth of +17.6%. Robust and lengthening aftermarket demand across CFM56, LEAP, and widebody fleets, combined with improving LEAP OE economics and structurally strong free cash flow, supports sustained double-digit EPS and cash growth through 2028 and potentially above prior targets.
Underperformers
American Electric Power (AEP) reported revenue growth of +7.3%. Bears worry that the sheer scale and timing of the 56 GW load, dependence on RTO generation build and evolving ERCOT/PJM rules, and the need for sustained regulatory and financing support could lead to execution bottlenecks, delayed earnings realization, or higher risk to customers and balance sheet than current guidance reflects.
General Electric Company (GE) reported revenue growth of +17.6%. Mix headwinds from GE9X and growing OE, persistent supply-chain and execution risks, and high ongoing R&D and capex needs could cap CES margin expansion and expose earnings and free cash flow to downside if aftermarket or legacy-engine durability trends weaken.
Monolithic Power Systems (MPWR) reported revenue growth of +20.8%. AI and auto upcycles trigger aggressive customer ordering and capacity expansion just as macro, memory, and EV headwinds emerge, leading to potential double ordering, margin stagnation at the low end of the model, and a later digestion period that caps earnings power.
Key Themes Across the Sector
Across 4 earnings calls, several common themes emerged:
- Durability and Risk of the 56 GW Contracted Load (ESAs/LOAs, Especially in ERCOT)
- Capital Plan, Incremental $5–8B Upside, and Implications for EPS CAGR
- Sustainability and Growth of Core ARR in 2026
- Pricing and Commercial Model Alignment for Enfusion
- Sustainability and Upside of Commercial Aftermarket / Services Growth in 2026
Individual Earnings Reports
- American Electric Power (AEP) Q4 2025 Earnings
- Clearwater Analytics (CWAN) Q3 2025 Earnings
- General Electric Company (GE) Q4 2025 Earnings
- Monolithic Power Systems (MPWR) Q4 2025 Earnings
Frequently Asked Questions
How did the utilities sector perform in Q4 2025?
The utilities sector saw average revenue growth of +30.7% across 4 companies that reported earnings. The top performer was Clearwater Analytics (CWAN) with revenue growth of +77.1%.
Which utilities stock performed best after earnings?
Monolithic Power Systems (MPWR) had the strongest earnings-day reaction, with the stock moving +6.4% on the report.
What are the key trends in utilities for 2025?
Key themes discussed across utilities earnings calls include: capital plan, incremental $5–8b upside, and implications for eps cagr, pricing and commercial model alignment for enfusion, sustainability and upside of commercial aftermarket / services growth in 2026. These topics were debated across multiple companies in the sector.
This roundup was generated by Calypso, an AI-powered equity research platform. For real-time earnings analysis, interactive debates, and coverage of 400+ stocks, try Calypso free.