OGE Energy Corp. reports first quarter 2025 results
OGE Energy Corp reported strong Q1 2025 results with earnings of $0.31 per diluted share, up from $0.09 in Q1 2024. The company's regulated electric subsidiary, Oklahoma Gas and Electric Company (OG&E), contributed $0.35 per share, a significant increase from $0.12 in the previous year.
Net income reached $62.7 million, driven by higher operating revenues from capital investments and strong load growth. OG&E's customer base grew to 908,851, with system sales increasing across residential, commercial, and industrial sectors. Operating revenues rose to $747.7 million from $596.8 million year-over-year.
The company maintained its 2025 consolidated earnings guidance at $2.27 per diluted share, with a range of $2.21 to $2.33. Key performance improvements included lower operation and maintenance expenses, though these were partially offset by higher depreciation and interest expenses.
OGE Energy Corp ha riportato risultati solidi nel primo trimestre del 2025, con utili di 0,31 dollari per azione diluita, in aumento rispetto a 0,09 dollari nel primo trimestre del 2024. La controllata regolamentata elettrica della società, Oklahoma Gas and Electric Company (OG&E), ha contribuito con 0,35 dollari per azione, un incremento significativo rispetto a 0,12 dollari dell'anno precedente.
L'utile netto ha raggiunto 62,7 milioni di dollari, trainato da maggiori ricavi operativi derivanti da investimenti in capitale e da una forte crescita della domanda. La base clienti di OG&E è cresciuta fino a 908.851, con un aumento delle vendite di energia nei settori residenziale, commerciale e industriale. I ricavi operativi sono saliti a 747,7 milioni di dollari rispetto a 596,8 milioni dell'anno precedente.
L'azienda ha confermato la sua previsione di utili consolidati per il 2025 a 2,27 dollari per azione diluita, con un intervallo compreso tra 2,21 e 2,33 dollari. I miglioramenti chiave nelle prestazioni includono una riduzione delle spese operative e di manutenzione, parzialmente bilanciata da un aumento delle spese per ammortamenti e interessi.
OGE Energy Corp reportó sólidos resultados en el primer trimestre de 2025, con ganancias de 0,31 dólares por acción diluida, frente a 0,09 dólares en el primer trimestre de 2024. La subsidiaria eléctrica regulada de la compañía, Oklahoma Gas and Electric Company (OG&E), aportó 0,35 dólares por acción, un aumento significativo respecto a 0,12 dólares del año anterior.
El ingreso neto alcanzó los 62,7 millones de dólares, impulsado por mayores ingresos operativos derivados de inversiones de capital y un fuerte crecimiento de la demanda. La base de clientes de OG&E creció a 908.851, con un incremento en las ventas del sistema en los sectores residencial, comercial e industrial. Los ingresos operativos aumentaron a 747,7 millones de dólares desde 596,8 millones interanuales.
La compañía mantuvo su guía de ganancias consolidadas para 2025 en 2,27 dólares por acción diluida, con un rango de 2,21 a 2,33. Las mejoras clave en el desempeño incluyeron menores gastos de operación y mantenimiento, aunque estos fueron parcialmente compensados por mayores gastos de depreciación e intereses.
OGE Energy Corp는 2025년 1분기에 주당 희석 이익이 0.31달러로, 2024년 1분기 0.09달러에서 크게 증가한 견고한 실적을 보고했습니다. 회사의 규제 전기 자회사인 Oklahoma Gas and Electric Company (OG&E)는 주당 0.35달러를 기여했으며, 이는 전년도의 0.12달러에서 크게 증가한 수치입니다.
순이익은 6,270만 달러에 달했으며, 이는 자본 투자로 인한 운영 수익 증가와 강력한 부하 성장에 힘입은 결과입니다. OG&E의 고객 기반은 908,851명으로 늘었고, 주거용, 상업용, 산업용 부문에서 시스템 판매가 증가했습니다. 운영 수익은 전년 대비 5억 9,680만 달러에서 7억 4,770만 달러로 상승했습니다.
회사는 2025년 통합 희석 주당순이익 가이던스를 2.27달러로 유지했으며, 범위는 2.21달러에서 2.33달러 사이입니다. 주요 성과 개선 사항으로는 운영 및 유지보수 비용 감소가 있었으나, 감가상각비 및 이자 비용 증가로 일부 상쇄되었습니다.
OGE Energy Corp a annoncé de solides résultats pour le premier trimestre 2025 avec un bénéfice de 0,31 $ par action diluée, en hausse par rapport à 0,09 $ au premier trimestre 2024. La filiale électrique réglementée de la société, Oklahoma Gas and Electric Company (OG&E), a contribué pour 0,35 $ par action, une augmentation significative par rapport à 0,12 $ l'année précédente.
Le bénéfice net a atteint 62,7 millions de dollars, soutenu par des revenus d'exploitation plus élevés issus des investissements en capital et une forte croissance de la demande. La clientèle d’OG&E est passée à 908 851, avec une augmentation des ventes du système dans les secteurs résidentiel, commercial et industriel. Les revenus d'exploitation ont augmenté pour atteindre 747,7 millions de dollars contre 596,8 millions d'une année sur l'autre.
La société a maintenu ses prévisions de bénéfice consolidé pour 2025 à 2,27 $ par action diluée, avec une fourchette comprise entre 2,21 et 2,33 $. Parmi les améliorations clés des performances figurent la réduction des dépenses d'exploitation et de maintenance, bien que celles-ci aient été partiellement compensées par une hausse des charges d'amortissement et d'intérêts.
OGE Energy Corp meldete starke Ergebnisse für das erste Quartal 2025 mit einem Gewinn von 0,31 USD je verwässerter Aktie, gegenüber 0,09 USD im ersten Quartal 2024. Die regulierte Stromtochtergesellschaft des Unternehmens, Oklahoma Gas and Electric Company (OG&E), trug 0,35 USD je Aktie bei, ein deutlicher Anstieg gegenüber 0,12 USD im Vorjahr.
Der Nettogewinn erreichte 62,7 Millionen USD, angetrieben durch höhere operative Erlöse aus Kapitalinvestitionen und starkes Lastwachstum. Die Kundenbasis von OG&E wuchs auf 908.851, wobei die Systemverkäufe in den Bereichen Wohn-, Gewerbe- und Industrie zunahmen. Die operativen Erlöse stiegen von 596,8 Millionen USD auf 747,7 Millionen USD im Jahresvergleich.
Das Unternehmen bestätigte seine konsolidierte Ergebnisprognose für 2025 bei 2,27 USD je verwässerter Aktie, mit einer Spanne von 2,21 bis 2,33 USD. Wichtige Leistungsverbesserungen umfassten niedrigere Betriebs- und Wartungskosten, die jedoch teilweise durch höhere Abschreibungs- und Zinsaufwendungen ausgeglichen wurden.
- Net income increased significantly to $62.7M ($0.31/share) from $18.6M ($0.09/share) YoY
- Operating revenues grew to $747.7M from $596.8M YoY
- Strong customer growth with base expanding to 908,851 from 899,871 YoY
- Maintained 2025 earnings guidance of $2.27 per share ($2.21-$2.33 range)
- Higher operating revenues driven by capital investment recovery and load growth
- Higher interest expense on long-term debt ($61.4M vs $52.0M YoY)
- Increased depreciation and amortization expense ($137.4M vs $129.2M YoY)
- Higher fuel and purchased power costs ($324.0M vs $232.2M YoY)
- Holding company operations loss increased to $8.3M from $6.6M YoY
Insights
OGE Energy reports strong Q1 growth with EPS tripling to $0.31, maintaining full-year guidance with expanding customer base.
OGE Energy's Q1 2025 results show substantial improvement with earnings of
The regulated utility segment, OG&E, drove this growth by contributing
Key growth drivers include higher operating revenues from capital investment recovery and strong load growth, coupled with lower operation and maintenance expenses. These positive factors outweighed increases in income tax, depreciation, and interest expenses.
Total operating revenue increased to
Despite this strong quarterly performance, management maintained its 2025 earnings guidance of
- OG&E, a regulated electric company, contributed earnings of
$0.35 $0.12 - Other operations, which includes the holding company, contributed a loss of
$0.04 $0.03
"Increased customer demand and growth fueled a great first quarter, continuing our momentum into 2025," said Sean Trauschke, Chairman, President and CEO of OGE Energy Corp. "Our reliability and business expansion investments provide value to all customers, limiting impacts of severe weather and outages as we support growing communities in
First Quarter 2025 results
OG&E contributed net income of
Other Operations resulted in a loss of
OGE Energy's net income was
2025 Outlook
OGE Energy's 2025 consolidated earnings guidance remains unchanged and is projected to be
See OGE Energy's 2024 Form 10-K for other key factors and assumptions underlying its 2025 guidance.
Conference Call Webcast
OGE Energy Corp. will host an earnings and business update conference call on Wednesday, April 30, 2025, at 8 a.m. CDT. The conference will be available through the Investor Center at www.oge.com.
OGE Energy Corp. is the parent company of OG&E, a regulated electric company with approximately 909,000 customers in
Some of the matters in this news release may contain forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "forecast," "intend," "objective," "plan," "possible," "potential," "project," "target" and similar expressions. Actual results may vary materially from those expressed in forward looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: general economic conditions, including the availability of credit, access to existing lines of credit, access to the commercial paper markets, actions of rating agencies and inflation rates, and their impact on capital expenditures; the ability of the Company to access the capital markets and obtain financing on favorable terms, as well as inflation rates and monetary fluctuations; the ability to obtain timely and sufficient rate relief to allow for recovery of items such as capital expenditures, fuel and purchased power costs, operating costs, transmission costs and deferred expenditures; prices and availability of electricity, coal and natural gas; competitive factors, including the extent and timing of the entry of additional competition in the markets served by the Company, potentially through deregulation; the impact on demand for the Company's services resulting from cost-competitive advances in technology, such as distributed electricity generation and customer energy efficiency programs; technological developments, changing markets and other factors that result in competitive disadvantages and create the potential for impairment of existing assets; factors affecting utility operations such as unusual weather conditions; catastrophic weather-related damage; unscheduled generation outages; unusual maintenance or repairs; unanticipated changes to fossil fuel, natural gas or coal supply costs or availability due to higher demand, shortages, transportation problems or other developments; environmental incidents; or electric transmission or gas pipeline system constraints; availability and prices of raw materials and equipment for current and future construction projects; the effect of retroactive pricing of transactions in the SPP markets or adjustments in market pricing mechanisms by the SPP; federal or state legislation and regulatory decisions and initiatives that affect cost and investment recovery, have an impact on rate structures or affect the speed and degree to which competition enters the Company's markets; environmental laws, safety laws or other regulations that may impact the cost of operations, restrict or change the way the Company's facilities are operated or result in stranded assets; the ability of the Company to meet future capacity requirements mandated by the SPP, which could be impacted by future load growth, environmental regulations recently finalized by the EPA, and the availability of resources; changes in accounting standards, rules or guidelines; the discontinuance of accounting principles for certain types of rate-regulated activities; the cost of protecting assets against, or damage due to, terrorism or cyberattacks, including the Company losing control of their assets and potential ransoms, and other catastrophic events; the availability, cost, coverage and terms of insurance; changes in the use, perception or regulation of generative artificial intelligence technologies, which could limit our ability to utilize such technology, create risk of enhanced regulatory scrutiny, generate uncertainty around intellectual property ownership, licensing or use, or which could otherwise result in risk of damage to our business, reputation or financial results; creditworthiness of suppliers, customers and other contractual parties, including large, new customers from emerging industries such as cryptocurrency; social attitudes regarding the electric utility and power industries; identification of suitable investment opportunities to enhance shareholder returns and achieve long-term financial objectives through business acquisitions and divestitures; increased pension and healthcare costs; national and global events that could adversely affect and/or exacerbate macroeconomic conditions, including inflationary pressures, interest rate fluctuations, supply chain disruptions, economic recessions, pandemic health events, tariffs and uncertainty surrounding continued hostilities or sustained military campaigns, and their collateral consequences; costs and other effects of legal and administrative proceedings, settlements, investigations, claims and matters, including, but not limited to those described in the Company's Form 10-Q for the quarter ended March 31, 2025; and other risk factors listed in the reports filed by the Company with the Securities and Exchange Commission, including those listed within the Company's most recent Form 10-K for the year ended December 31, 2024.
Note: Condensed Consolidated Statements of Income for OGE Energy Corp., Condensed Statements of Income and Comprehensive Income for Oklahoma Gas & Electric Company, and Financial and Statistical Data for Oklahoma Gas & Electric Company attached.
OGE ENERGY CORP. | ||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||
(Unaudited) | ||||
Three Months Ended | ||||
March 31, | ||||
(In millions, except per share data) | 2025 | 2024 | ||
OPERATING REVENUES | ||||
Revenues from contracts with customers | $ 741.1 | $ 582.6 | ||
Other revenues | 6.6 | 14.2 | ||
Operating revenues | 747.7 | 596.8 | ||
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE | 324.0 | 232.2 | ||
OPERATING EXPENSES | ||||
Other operation and maintenance | 121.8 | 132.4 | ||
Depreciation and amortization | 137.4 | 129.2 | ||
Taxes other than income | 31.2 | 29.0 | ||
Operating expenses | 290.4 | 290.6 | ||
OPERATING INCOME | 133.3 | 74.0 | ||
OTHER INCOME (EXPENSE) | ||||
Allowance for equity funds used during construction | 7.0 | 4.7 | ||
Other net periodic benefit income (expense) | (2.6) | 1.7 | ||
Other income | 7.0 | 4.5 | ||
Other expense | (4.5) | (4.5) | ||
Net other income | 6.9 | 6.4 | ||
INTEREST EXPENSE | ||||
Interest on long-term debt | 61.4 | 52.0 | ||
Allowance for borrowed funds used during construction | (4.5) | (3.4) | ||
Interest on short-term debt and other interest charges | 10.4 | 11.6 | ||
Interest expense | 67.3 | 60.2 | ||
INCOME BEFORE TAXES | 72.9 | 20.2 | ||
INCOME TAX EXPENSE | 10.2 | 1.6 | ||
NET INCOME | $ 62.7 | $ 18.6 | ||
BASIC AVERAGE COMMON SHARES OUTSTANDING | 201.2 | 200.4 | ||
DILUTED AVERAGE COMMON SHARES OUTSTANDING | 201.9 | 200.6 | ||
BASIC EARNINGS PER AVERAGE COMMON SHARE | $ 0.31 | $ 0.09 | ||
DILUTED EARNINGS PER AVERAGE COMMON SHARE | $ 0.31 | $ 0.09 | ||
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | ||||
(Unaudited) | ||||
Three Months Ended | ||||
March 31, | ||||
(In millions) | 2025 | 2024 | ||
OPERATING REVENUES | ||||
Revenues from contracts with customers | $ 741.1 | $ 582.6 | ||
Other revenues | 6.6 | 14.2 | ||
Operating revenues | 747.7 | 596.8 | ||
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE | 324.0 | 232.2 | ||
OPERATING EXPENSES | ||||
Other operation and maintenance | 121.8 | 132.4 | ||
Depreciation and amortization | 137.4 | 129.2 | ||
Taxes other than income | 31.2 | 29.0 | ||
Operating expenses | 290.4 | 290.6 | ||
OPERATING INCOME | 133.3 | 74.0 | ||
OTHER INCOME (EXPENSE) | ||||
Allowance for equity funds used during construction | 7.0 | 4.7 | ||
Other net periodic benefit income (expense) | (2.5) | 1.8 | ||
Other income | 5.3 | 2.0 | ||
Other expense | (0.9) | (1.9) | ||
Net other income | 8.9 | 6.6 | ||
INTEREST EXPENSE | ||||
Interest on long-term debt | 55.6 | 51.1 | ||
Allowance for borrowed funds used during construction | (4.5) | (3.4) | ||
Interest on short-term debt and other interest charges | 5.7 | 3.7 | ||
Interest expense | 56.8 | 51.4 | ||
INCOME BEFORE TAXES | 85.4 | 29.2 | ||
INCOME TAX EXPENSE | 14.4 | 4.0 | ||
NET INCOME | $ 71.0 | $ 25.2 | ||
Other comprehensive income, net of tax | — | — | ||
COMPREHENSIVE INCOME | $ 71.0 | $ 25.2 | ||
FINANCIAL AND STATISTICAL DATA | ||||
Three Months Ended | ||||
March 31, | ||||
(Dollars in millions) | 2025 | 2024 | ||
Operating revenues by classification: | ||||
Residential | $ 287.3 | $ 228.1 | ||
Commercial | 208.8 | 153.4 | ||
Industrial | 62.2 | 54.2 | ||
Oilfield | 59.2 | 50.1 | ||
Public authorities and street light | 60.8 | 52.3 | ||
System sales revenues | 678.3 | 538.1 | ||
Provision for tax refund | 3.0 | — | ||
Integrated market | 21.3 | 15.0 | ||
Transmission | 39.8 | 35.6 | ||
Other | 5.3 | 8.1 | ||
Total operating revenues | $ 747.7 | $ 596.8 | ||
MWh sales by classification (In millions) | ||||
Residential | 2.5 | 2.3 | ||
Commercial | 2.7 | 2.1 | ||
Industrial | 1.0 | 1.0 | ||
Oilfield | 1.1 | 1.1 | ||
Public authorities and street light | 0.7 | 0.7 | ||
System sales | 8.0 | 7.2 | ||
Integrated market | 0.2 | 0.2 | ||
Total sales | 8.2 | 7.4 | ||
Number of customers | 908,851 | 899,871 | ||
Weighted-average cost of energy per kilowatt-hour (In cents) | ||||
Natural gas | 5.345 | 3.483 | ||
Coal | 2.745 | 3.100 | ||
Total fuel | 3.905 | 3.238 | ||
Total fuel and purchased power | 3.795 | 2.984 | ||
Degree days (A) | ||||
Heating - Actual | 1,900 | 1,695 | ||
Heating - Normal | 1,889 | 1,887 | ||
Cooling - Actual | 19 | 12 | ||
Cooling - Normal | 10 | 10 | ||
(A) Degree days are calculated as follows: The high and low degrees of a particular day are added together and then averaged. | ||||
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SOURCE OGE Energy Corp.
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