Portland General Electric ( (POR) ) has released its Q4 earnings. Here is a breakdown of the information Portland General Electric presented to its investors.
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Portland General Electric (PGE) is an integrated energy company based in Oregon, providing electricity generation, transmission, and distribution services to over 950,000 customers. The company is recognized for its commitment to clean energy and ranks highly in customer experience.
In 2024, Portland General Electric reported a net income of $313 million, or $3.01 per diluted share, under GAAP, with an adjusted non-GAAP figure of $327 million, or $3.14 per diluted share. The company initiated its 2025 earnings guidance, projecting adjusted earnings per share between $3.13 and $3.33, while maintaining a long-term growth target of 5% to 7%.
Key financial performance metrics for 2024 included a rise in total revenues driven by increased demand from technology infrastructure customers, despite some offset from lower residential and commercial usage. Operational expenses rose due to higher generation and maintenance costs, yet the company managed to enhance its operational reliability and invested significantly in grid modernization and clean energy projects.
Strategically, PGE achieved several milestones, such as the launch of the Clearwater Wind Energy Facility and integration of the Constable Battery Energy Storage System. The company also submitted its 2025 Wildfire Mitigation Plan to enhance grid resilience and mitigate risks.
Looking ahead, Portland General Electric’s management remains optimistic, focusing on executing its strategic initiatives, including expanding renewable energy capacity and enhancing grid infrastructure, while continuing to strive for operational excellence and financial growth.
