PGE Q1 adj EPS $1.21 vs $0.80 YoY; reaffirms FY 2024 guidance $2.98-$3.18

PORTLAND GENERAL ELECTRIC CO /OR/

2024-Q1 EPS reported $1.08 revenue$929,000,000

Q1 GAAP net income $109M ($1.08/diluted); adjusted net income $123M ($1.21/diluted), up from $0.80 GAAP in Q1 2023.
Revenues increased on semiconductor/data center demand; Clearwater Wind (311 MW) placed in service Jan 2024.
Reaffirming FY 2024 adjusted EPS guidance $2.98-$3.18; O&M $815-840M, capex $1.34B.
Quarterly dividend unchanged at $0.50/share, payable July 15 to holders of record June 24.
Filed 2025 GRC with OPUC; joined CAISO EDAM expected to save $6-18M annually.

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 the three months ended March 31, 2024 results: net income $109 million, or $1.08 per diluted share, EPS $1.08 per diluted share (GAAP). Guidance reaffirmed.

Period: the three months ended March 31, 2024
Net income: $109 million, or $1.08 per diluted share
EPS: $1.08 per diluted share (GAAP)
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 $109 million, or $1.08 per diluted share, for the first quarter of 2024.

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Source: SEC EDGAR

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