earnings
confidence high
sentiment positive
materiality 0.75
OGE Energy Q1 EPS $1.39 vs $0.26 YoY; plans exit from Energy Transfer investment
OGE ENERGY CORP.
2022-Q1 EPS reported
$1.39
revenue$589,300,000
- EPS of $1.39 (diluted) vs $0.26 in Q1 2021; net income $280M vs $53M.
- OG&E utility unit earnings $0.19 per share vs $0.06; driven by higher revenues and capital recovery.
- Natural Gas Midstream segment earnings $1.15 per share from $282.3M pre-tax unrealized mark-to-market gain on Energy Transfer equity.
- OGE began selling Energy Transfer units post-quarter; sold 21.75M units for $246M pre-tax proceeds; remaining stake ~2%.
- OG&E 2022 earnings guidance unchanged at $375-$395M ($1.87-$1.97 per share); no consolidated guidance.