NYSE$POR
Portland General Electric Company · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Second quarter results reflected continued focus on execution and cost management, semiconductor manufacturing and data center demand growth, and solid power cost performance.
Portland General Electric reported net income of $72 million, or $0.69 per diluted share, for the second quarter of 2024. The company reaffirmed its 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share.
- Second quarter results reflect continued focus on execution and cost management.
- Semiconductor manufacturing and data center demand growth contributed to the results.
- Solid power cost performance was observed.
- The company reaffirmed 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share.
Headline financials
Revenue & EPS history
PGE · Revenue · Quarterly
$758M
Revenue by segment
PGE · $1.81B total across 3 segments · Q3 2023
- Residential$942M+12.0%52.2%
- Commercial$606M+12.2%33.6%
- Industrial$258M+19.4%14.3%
Forward guidance
PGE is reaffirming its estimate for full-year 2024 adjusted earnings guidance of $2.98 to $3.18 per diluted share.
Tailwinds
- Exclusion of the impacts of the January 2024 winter storm, including non-deferrable Reliability Contingency Event (RCE) costs and non-deferred incremental storm restoration costs
- An increase in energy deliveries of 2% to 3%, weather adjusted
- Normal temperatures in its utility service territory
- Hydro conditions for the year that reflect current estimates
- Wind generation based on five years of historical levels or forecast studies when historical data is not available
Headwinds
- Normal thermal plant operations
- Operating and maintenance expense between $800 million and $825 million which includes approximately $150 million of wildfire, vegetation management, deferral amortization and other expenses that are offset in other income statement lines
- Depreciation and amortization expense between $475 million and $525 million
- Effective tax rate of 10% to 15%
- Cash from operations of $700 to $800 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.1%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.5%
Avg return
30 days after
51%
35 / 68 earnings
Positive
+5.4%
Q4 2022
Best reaction
-8.8%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -6.0% | -3.5% | |
| Q4 2025 | -2.6% | -2.9% | -3.2% | |
| Q3 2025 | +2.5% | +3.9% | +11.0% | |
| Q1 2025 | -3.8% | -2.0% | -2.3% | |
| Q4 2024 | -1.1% | +2.9% | +6.6% | |
| Q3 2024 | -0.2% | -2.7% | -2.5% | |
| Q2 2024 | -2.3% | -1.0% | -0.3% | |
| Q1 2024 | +0.3% | +1.5% | +1.1% | |
| Q4 2023 | +0.4% | +1.6% | +0.7% | |
| Q3 2023 | -3.1% | +0.4% | +1.7% | |
| Q2 2023 | -0.4% | -0.3% | -8.3% | |
| Q1 2023 | -1.5% | -2.3% | -5.6% | |
| Q4 2022 | +5.4% | +2.9% | +2.2% | |
| Q3 2022 | +1.9% | +3.9% | +10.1% | |
| Q2 2022 | +1.8% | +1.6% | +4.2% | |
| Q1 2022 | -8.3% | -10.2% | -5.7% | |
| Q4 2021 | -1.3% | -2.2% | +6.7% | |
| Q3 2021 | +3.4% | +2.7% | +2.1% | |
| Q2 2021 | +1.5% | +0.8% | +3.2% | |
| Q1 2021 | +0.4% | -1.1% | -4.6% | |
| Q4 2020 | +0.6% | +3.2% | +13.7% | |
| Q3 2020 | -0.1% | +2.2% | +7.5% | |
| Q2 2020 | -4.5% | -6.0% | -13.5% | |
| Q1 2020 | -4.4% | -0.7% | -11.3% | |
| Q4 2019 | +0.0% | -0.2% | -21.7% | |
| Q3 2019 | -0.4% | -1.9% | -2.4% | |
| Q2 2019 | -2.0% | -0.7% | +2.7% | |
| Q1 2019 | +0.5% | +1.2% | +4.2% | |
| Q4 2018 | +0.1% | +1.5% | +7.1% | |
| Q3 2018 | -1.4% | -1.8% | +3.2% | |
| Q2 2018 | -0.8% | -1.3% | +2.8% | |
| Q1 2018 | +2.6% | +1.7% | +1.2% | |
| Q4 2017 | -1.8% | -2.4% | -2.2% | |
| Q3 2017 | +3.4% | +2.9% | +5.7% | |
| Q2 2017 | -1.6% | -1.3% | +3.8% | |
| Q1 2017 | -2.9% | -4.0% | +1.2% | |
| Q4 2016 | +1.1% | +1.2% | +4.1% | |
| Q3 2016 | +4.3% | +1.2% | +1.6% | |
| Q2 2016 | -0.0% | -1.6% | -2.6% | |
| Q1 2016 | +4.2% | — | — | |
| Q4 2015 | -3.0% | — | — | |
| Q3 2015 | -3.1% | — | — | |
| Q2 2015 | +3.9% | — | — | |
| Q1 2015 | -2.7% | — | — | |
| Q4 2014 | -2.2% | — | — | |
| Q3 2014 | +0.4% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | +3.6% | — | — | |
| Q3 2013 | +3.8% | — | — | |
| Q2 2013 | -2.7% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | -2.4% | — | — | |
| Q2 2012 | -0.6% | — | — | |
| Q1 2012 | -2.9% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | +1.3% | — | — | |
| Q2 2011 | -8.8% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q4 2008 | +3.7% | — | — | |
| Q4 2010 | +3.7% | — | — | |
| Q3 2009 | +1.2% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q4 2009 | +1.9% | — | — | |
| Q2 2010 | +1.9% | — | — | |
| Q2 2009 | +1.9% | — | — |
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