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
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