OGE Energy Q1 2023 Earnings Report
Key Takeaways
OGE Energy Corp. reported a net income of $38.3 million, or $0.19 per diluted share, for the first quarter of 2023. OG&E contributed net income of $39.8 million, or $0.20 per diluted share.
OGE Energy's earnings were $0.19 per diluted share, compared to $1.39 per diluted share in the same period of 2022.
OG&E contributed earnings of $0.20 per diluted share, compared to $0.19 per diluted share in the first quarter last year.
Other operations resulted in a loss of $0.01 per diluted share compared to earnings of $0.05 per diluted share in the first quarter 2022.
OGE Energy's 2023 earnings guidance remains unchanged and is projected to be between $387 million to $416 million, or $1.93 to $2.07 per average diluted share.
OGE Energy
OGE Energy
OGE Energy Revenue by Segment
OGE Energy Revenue by Geographic Location
Forward Guidance
OGE Energy's 2023 earnings guidance remains unchanged and is projected to be between $387 million to $416 million, or $1.93 to $2.07 per average diluted share, with a midpoint of $402 million, or $2.00 per average diluted share. OG&E is projected to earn approximately $400 million to $421 million, or $1.99 to $2.09 per average diluted share, with a midpoint of $411 million, or $2.04 per average diluted share. Other Operations (primarily Holding Company) projects a loss of $5 million to $13 million, or $0.02 to $0.06 per average diluted share, with a midpoint of a loss of $9 million, or $0.04 per average diluted share.
Positive Outlook
- OGE Energy's 2023 earnings guidance remains unchanged.
- OGE Energy projects earnings between $387 million and $416 million.
- OG&E is projected to earn approximately $400 million to $421 million.
- Guidance assumes approximately 201 million average diluted shares outstanding.
- Guidance assumes normal weather for the year.
Challenges Ahead
- Other Operations projects a loss of $5 million to $13 million.
- OG&E has significant seasonality in its earnings due to weather.
- General economic conditions could impact capital expenditures.
- Access to capital markets and financing could be affected.
- Prices and availability of electricity, coal, and natural gas could vary.
Revenue & Expenses
Visualization of income flow from segment revenue to net income