---
schema_version: "secwatch.filing_event.v1"
accession: "0000784977-23-000070"
form_type: "8-K"
ticker: "POR"
cik: "0000784977"
company_name: "PORTLAND GENERAL ELECTRIC CO /OR/"
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T07:07:15.696859+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PGE Q1 GAAP EPS $0.80; CFO Ajello to retire June 30; BESS & $300M ATM

## Summary
- GAAP net income $74M ($0.80/diluted); reaffirms FY2023 adjusted EPS guidance $2.60-$2.75.
- Quarterly dividend raised 5.0% to $0.475/share, payable July 17 to holders of record June 26.
- CFO Jim Ajello to retire effective June 30; senior advisor through Aug 31; successor search begun.
- Agreed to construct 200 MW owned BESS ($360M) and 20-year capacity agreement for 200 MW BESS.
- Filed $300M at-the-market equity offering; proceeds for general corporate and clean energy investments.

## SEC filing metadata
- accession: 0000784977-23-000070
- form_type: 8-K
- ticker: POR
- cik: 0000784977
- company_name: PORTLAND GENERAL ELECTRIC CO /OR/
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/784977/000078497723000070/0000784977-23-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/784977/000078497723000070/por-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000784977-23-000070
- JSON: https://secwatch.observer/filing/0000784977-23-000070.json
- Plain text: https://secwatch.observer/filing/0000784977-23-000070.txt

## Key facts
- Earnings Releases
  PORTLAND GENERAL ELECTRIC CO /OR/ reported the three months ended March 31, 2023 results: net income $74 million, EPS $0.80 per diluted share. Guidance reaffirmed.
  - Period: the three months ended March 31, 2023
  - Net income: $74 million
  - EPS: $0.80 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Portland General Electric Company (NYSE: POR) today reported net income based on generally accepted accounting principles (GAAP) of $74 million, or $0.80 per diluted share, for the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497723000070/0000784977-23-000070-index.htm
- Executive change
  James A. Ajello departed as Chief Financial Officer at PORTLAND GENERAL ELECTRIC CO /OR/.
  - Action: retiring
  - Role: Chief Financial Officer
  source text: On April 25, 2023, James A. Ajello, Senior Vice President Finance, Chief Financial Officer, Treasurer and Corporate Compliance Officer, informed the Company that he is retiring from his positions effective June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497723000070/0000784977-23-000070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.