---
schema_version: "secwatch.filing_event.v1"
accession: "0000784977-23-000114"
form_type: "8-K"
ticker: "POR"
cik: "0000784977"
company_name: "PORTLAND GENERAL ELECTRIC CO /OR/"
filed_at: "2023-07-28T23:59:59+00:00"
generated_at: "2026-06-12T23:25:50.441163+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000784977-23-000114
- form_type: 8-K
- ticker: POR
- cik: 0000784977
- company_name: PORTLAND GENERAL ELECTRIC CO /OR/
- filed_at: 2023-07-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/784977/000078497723000114/0000784977-23-000114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/784977/000078497723000114/por-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000784977-23-000114
- JSON: https://secwatch.observer/filing/0000784977-23-000114.json
- Plain text: https://secwatch.observer/filing/0000784977-23-000114.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/784977/000078497723000114/0000784977-23-000114-index.htm

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