PGE Q2 GAAP EPS $0.39 vs $0.72 YoY; adjusted $0.44; reaffirms FY23 guidance $2.60-$2.75

PORTLAND GENERAL ELECTRIC CO /OR/

2023-Q2 EPS reported $1.19 revenue$1,396,000,000

Q2 2023 GAAP net income $39M ($0.39/diluted share) vs $64M ($0.72) a year ago; non-GAAP adj. net income $44M ($0.44).
Revenue rose on higher demand from digital and semiconductor customers; power costs increased due to unfavorable hydro conditions.
Reaffirmed FY2023 adjusted EPS guidance $2.60-$2.75; assumptions include 2.5%-3% energy delivery growth, O&M $695M-$715M.
Board declared $0.475/share quarterly dividend, payable Oct 16, 2023 to holders of record Sep 25, 2023.
Progress on 2024 GRC partial stipulations; procured 75 MW Evergreen battery storage; remaining resource need ~2,700-3,700 MW by 2030.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PORTLAND GENERAL ELECTRIC CO /OR/ reported second quarter of 2023 results: net income $39 million, EPS $0.39 per diluted share. Guidance reaffirmed.

Period: second quarter of 2023
Net income: $39 million
EPS: $0.39 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Portland General Electric Company (NYSE: POR) today reported net income based on generally accepted accounting principles (GAAP) of $39 million, or $0.39 per diluted share, for the second quarter of 2023.

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PORTLAND GENERAL ELECTRIC CO /OR/ filing history →

Source: SEC EDGAR

accession 0000784977-23-000114

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