| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 4, 2026 | 7/12 | 1 high, 6 medium, 1 low flags | 2 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Balance sheet leverage tightness is a 26/27 issue before 'historic earnings growth' resets leverage capacity in 2028 Management repeated the same framing this quarter almost verbatim, not yet due or falsifiable until 2028 results are in |
| Q2'26 | Pending | NEO project targeted for in-service in the second half of 2028 Long-dated commitment not due yet; not specifically re-addressed on this call |
| Q2'26 | Pending | Guiding to the upper half of original FY26 adjusted EBITDA guidance Full fiscal year has not ended; actual FY26 result not yet determinable from this call |
| Q2'26 | Delivered | Expect to firm up financing plans over the next couple of months Financing plan materialized as the Power Innovation JV with Blackstone, Apollo and KKR, announced this quarter |
| Q2'26 | Delivered | 2026 will see seasonally lower EBITDA in 2Q before resuming sequential growth in 2H, including partial Socrates startup beginning in Q3 Q2 EBITDA of $1.92B came in below Q1's $2.25B as predicted, and Socrates phase 1 achieved in-service per the call, consistent with a Q3 partial startup |
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