Tennessee Valley Authority PARRS A 2029
NYSE-listed retail power bond payable from TVA’s net power proceeds.
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Profile
Provides a retail-denomination claim on Tennessee Valley Authority’s net power proceeds under its Power Bond Resolution. The federally owned public-power agency earns most revenue from wholesale electricity sales across the Tennessee Valley.
Provides a retail-denomination claim on Tennessee Valley Authority’s Net Power Proceeds under the Power Bond Resolution, rather than ownership in the federally owned agency. The PARRS structure permits a prescribed downward coupon reset and a limited reset-related put right; principal and interest are not guaranteed by the U.S. government.
Generates, transmits, and sells wholesale electricity across most of Tennessee and nearby parts of the Southeast, serving local power companies and large directly served customers. Its integrated system combines nuclear, gas, coal, hydro, pumped storage, solar, purchased power, and transmission with navigation, flood control, environmental stewardship, and economic-development mandates. Operations and bond payments depend on power-sale revenue, Net Power Proceeds, the statutory service territory, long-term customer contracts, regulatory compliance, and debt capacity.
Company facts
Key statistics
Year to date −3.3% · Average volume (30d) 9.8K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023Q4 FY23 | — | $241.90 | — | — | $2.77B | — | −1.40% |
| Mar 31, 2023Q1 FY23 | — | $34.29 | — | — | $2.96B | — | +1.37% |
| Dec 31, 2022Q4 FY22 | — | −$306.67 | — | — | $3.02B | — | −0.18% |
| Sep 30, 2022Q3 FY22 | — | $226.67 | — | — | $6.69B | — | 0.00% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.53B | $3.31B | $3.91B | $3.05B | $3.55B | $3.44B | |
| Gross profit | $1.44B | $1.25B | $1.69B | $1.28B | $1.39B | $1.23B | |
| Operating income | $716.0M | $517.0M | $923.0M | $552.0M | $714.0M | $611.0M | |
| Net income | $408.0M | $212.0M | −$745.0M | $266.0M | $392.0M | $307.0M | |
| Diluted EPS | $777.14 | $403.81 | −$1,419.05 | $0.00 | $746.67 | $584.76 | |
| Gross margin | 40.7% | 37.7% | 43.2% | 41.8% | 39.3% | 35.7% | |
| Operating margin | 20.3% | 15.6% | 23.6% | 18.1% | 20.1% | 17.8% |
Fiscal years (4-quarter sums)FY21 $15.38B · FY22 $12.54B · FY23 $12.05B · FY24 $12.31B · FY25 $13.67B
Revenue by product · Q3 FY26
Revenue by geography · Q3 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.42B · Total debt $25.19B · Total assets $61.64B · Shareholders' equity $19.48B
Dividends
Last raised to $0.1385 from $0.009 in Apr 2025.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 31, 2026 | Jul 31 | Aug 3 | $0.1385 | |
| Apr 30, 2026 | Apr 30 | May 1 | $0.1385 | |
| Jan 30, 2026 | Jan 30 | Feb 2 | $0.1385 | |
| Oct 31, 2025 | Oct 31 | Nov 3 | $0.1385 | |
| Jul 31, 2025 | Jul 31 | Aug 1 | $0.1385 | |
| Apr 30, 2025 | Apr 30 | May 1 | $0.1385 | raised from $0.009 |
| Mar 31, 2025 | Apr 15 | $0.009 | raised from $0.0088 | |
| Feb 28, 2025 | Mar 14 | $0.0088 | cut from $0.1385 |
Ownership
Shares outstanding 525.0K · Float —
This issuer lists more than one class and the share count spans them all, so a stake here reads as a share of the whole company, not of this class.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % of company | Form | Filed |
|---|---|---|---|---|
| Iat Reinsurance Co Ltd. | 260.0K | 49.52% | 13F | May 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Southern Company
Southeastern wholesale, generation, grid, and large-load rival.
- Duke Energy
Adjacent-state utility peer for grid, generation, and large-load growth.
- Entergy
Deep South utility peer with Mississippi and nuclear-fleet overlap.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tennessee Valley Authority PARRS A 2029 | $23.51 | −0.23% | $12.3M | — | — | 0.0 | — |
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| Entergy | $105.75 | +0.03% | $49.35B | 27.1 | 22.6 | 3.7 | +5.9% |
| Median | 21.3 | 18.9 | 3.4 | +1.1% |