Portland General Electric Co

POR

Equity

ISIN US7365088472 / Valor 2507640

New York Stock Exchange, Inc (2024-12-24)

USD 43.77-0.97%

Portland General Electric Co
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About company

Portland General Electric Co. (PGE) is a vertically integrated electric utility company serving residential, commercial, and industrial customers in the state of Oregon. With a workforce of approximately 2,840 employees, PGE is committed to providing safe, affordable, and reliable energy, while also focusing on the transition to cleaner energy sources to meet evolving customer needs. The company operates across various facets of the energy sector, including generation, transmission, and distribution of electricity. PGE's team comprises skilled tradespeople as well as professionals in engineering, environmental sciences, information technology, finance, marketing, and customer service, highlighting the company's diverse operational and service areas. Through its comprehensive approach, PGE aims to address the complex energy requirements of its customer base, ensuring a stable supply of electricity while navigating the challenges of sustainability and technological innovation in the energy industry.

Summarized from source with an LLMView SourceSector: Energy

Net Income for 2023

Portland General Electric Co reported a GAAP net income of $228 million, or $2.33 per diluted share, for the year ended December 31, 2023. After adjusting for the Boardman revenue requirement settlement charge, the non-GAAP net income was $233 million, or $2.38 per diluted share.

Fourth Quarter Performance

For the fourth quarter of 2023, Portland General Electric Co's GAAP net income was $68 million, or $0.67 per diluted share. This is an increase from the fourth quarter of 2022, where the GAAP net income was $50 million, or $0.56 per diluted share.

Revenue and Expenses

Portland General Electric Co's total revenues increased in 2023 due to higher demand from high-tech and digital customers and increased recovery of power costs. However, this was partially offset by lower residential and commercial usage. Operating and administrative expenses also saw a slight increase due to higher generation maintenance and grid resiliency costs.

2024 Earnings Guidance

Portland General Electric Co is initiating full-year 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share. This guidance is based on several assumptions, including an increase in energy deliveries between 2% and 3%, normal temperatures, and hydro conditions reflecting current estimates.

Quarterly Dividend

On February 9, 2024, the board of directors of Portland General Electric Co approved a quarterly common stock dividend of $0.475 per share. The dividend is payable on or before April 15, 2024, to shareholders of record at the close of business on March 22, 2024.

Summarized from source with an LLMView Source

Key figures

1.53%1Y

-14.7%3Y

-21.2%5Y

Performance

18.6%1Y

21.6%3Y

29.7%5Y

Volatility