1) Financial Performance Overview
- Reported non-GAAP EPS of $0.40 for Q2 2026, up from $0.37 in Q2 2025, reflecting a growth of 8%. - Reiterated full-year 2026 non-GAAP EPS guidance of $1.89 to $1.91, indicating continued confidence in achieving growth targets. - The company expects long-term non-GAAP EPS growth of 7% to 9% annually through 2035.

2) Capital Investment and Growth Strategy
- Announced a $1.2 billion increase in the capital investment plan, now totaling $66.7 billion over the next 10 years. - The increase is driven by system upgrades for 14 gigawatts of large load projects and the Downtown Houston revitalization project. - Expected to deploy this capital without additional equity financing, maintaining a conservative balance sheet.

3) Operational Updates and Customer Demand
- Significant progress in ERCOT's batch zero process, with 17 gigawatts of large load projects submitted, of which 14 gigawatts are expected to qualify. - Anticipated $5 billion in savings for residential and commercial customers over the next decade due to the absorption of costs by large load customers. - Continued growth in localized demand, with an additional 2 gigawatts expected from advanced manufacturing and population growth in Houston.

4) Regulatory and Financing Developments
- Ongoing regulatory progress with filings for capital recovery, including a $73 million increase in revenue requirement for distribution investments. - Anticipated $6 million per gigawatt per month in new demand charges from large load customers over the next five years. - Improved credit metrics, with an adjusted FFO to debt ratio of 13.4%, reflecting nearly a 100-basis-point improvement from Q1.

5) Challenges and Future Outlook
- Some projects may face delays due to ERCOT's approval processes, particularly for the 3 gigawatts of projects that did not qualify for batch zero. - The company is actively advocating for these projects and exploring options to ensure their progression. - The transcript lacks specific details on the anticipated timelines for project approvals and construction start dates.

Bottom line: CenterPoint Energy is positioned for robust growth with a solid capital investment plan and strong customer demand, while maintaining financial discipline. The focus on large load projects and regulatory progress supports a positive outlook for shareholders, despite some potential challenges in project approvals.