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Portland General Electric Company (POR)
NYSE:POR
Earnings Data
Report Date
Apr 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.07Last Year’s EPS
0.91Same Quarter Last Year
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strategic positives: a sizable, accretive Washington acquisition with a credible financing partner (Manulife), strong industrial/data-center-driven load growth, solid 2025 results (despite weather headwinds), clear 2026 guidance, ongoing cost-savings delivery, and a robust clean-energy project pipeline supported by tax credits. Key risks include regulatory approval timelines and conditions, financing and integration uncertainties, weather-driven volatility already impacting 2025 earnings (~$0.17 EPS), potential break fees (~$35M), and concentrated near-term capital spending. On balance, the favorable operational momentum, transaction structure, financing commitments, and reaffirmed long-term 5%–7% EPS/dividend growth guidance outweigh the listed risks.Company Guidance
Strategic Washington Acquisition
Definitive agreement to acquire PacifiCorp's Washington electric utility business for $1.9 billion; transaction expands PGE's portfolio ~18% overall (generation & transmission +22%, distribution +14%, customers +15%) and adds ~140,000 Washington customers across ~2,700 square miles. Manulife/John Hancock to hold 49% minority stake; deal expected accretive in first full year.
Strong 2025 Financial Results (GAAP and Non-GAAP)
Full-year 2025 GAAP net income $306 million ($2.77 per diluted share) and non-GAAP net income $336 million ($3.05 per diluted share), after adjustments for transformation and optimization expenses.
Affirmed and Enhanced Long-Term Growth Targets
Reaffirmed long-term EPS and dividend growth guidance of 5%–7% and indicated the Washington transaction supports being squarely above the midpoint of that range.
2026 Guidance and Load Growth Expectations
2026 EPS guidance of $3.33–$3.53 per share; 2026 weather-adjusted load growth guidance of 2.5%–3.5% and long-term load growth guidance of ~3% through 2030.
Robust Industrial / Data Center Demand
Industrial load grew 14% year-over-year; total load increased 3.8% (4.7% weather-adjusted). Executed five new data center contracts totaling 430 MW in Q4/early 2026 and disclosed a pipeline of ~1.7 GW of prospective large-load requests.
RFP & Clean Energy Pipeline
Shortlist from 2025 RFP ~5 GW of renewable/non-emitting capacity; expect final selections ~2.5 GW (blend of build-transfer agreements and PPAs). Announced Biglow (125 MW solar + 125 MW battery) and Wheatridge expansion (240 MW solar + 125 MW battery; PGE owns 175 MW, will procure remaining 190 MW via PPA) — projects slated for in-service by end of 2027 and eligible for 30%–40% federal ITC.
Cost Management and O&M Efficiencies
Exceeded cost-management targets in 2025, reducing PGE's overall cost structure by about $25 million (net of transformation costs) with savings expected to grow and become permanent as programs mature.
Strong Liquidity, Credit Profile and Financing Plan
Year-end total liquidity of $954 million; CFO-to-debt metrics >19%; Moody's outlook improved from negative to stable. Secured commitments for the $1.9 billion purchase price (bridge financing from Barclays and JPMorgan plus Manulife commitment). Permanent financing plan: $600M equity from Manulife, $700M secured debt at WA utility, $600M at proposed holdco. ATM upsized to $500M; expected debt issuances up to $350M in 2026.
Regulatory and Operational Wins
Received approval for the Seaside battery project and reached a constructive stipulation for the distributed system plan; POWER Act-aligned tariff work (UM 2377) progressing toward completion in Q2 to create a separate data center customer class and support residential affordability.
Wildfire Risk Management and Operational Integration
Maintains mature, year-round wildfire risk mitigation programs and plans to integrate Washington employees and operational practices; disclosed Washington high-fire-risk exposure as low (approx. 2%, ~20 distribution miles), similar to Oregon.
POR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
POR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 17, 2026 | $54.00 | $52.56 | -2.67% |
Oct 31, 2025 | $45.30 | $45.18 | -0.26% |
Jul 25, 2025 | $38.82 | $40.45 | +4.20% |
Apr 25, 2025 | $41.46 | $39.90 | -3.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Portland General Electric Company (POR) report earnings?
Portland General Electric Company (POR) is schdueled to report earning on Apr 24, 2026, Before Open (Confirmed).
What is Portland General Electric Company (POR) earnings time?
Portland General Electric Company (POR) earnings time is at Apr 24, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is POR EPS forecast?
POR EPS forecast for the fiscal quarter 2026 (Q1) is 1.07.