OGE Energy Corp. reports third quarter 2026 results

Warmer-than-normal weather lifted utility sales, and OGE Energy now expects earnings to exceed its original 2026 guidance range.

Rhea-AI Summary

OGE Energy (NYSE: OGE) reported third-quarter 2026 diluted earnings per share of $1.52, up from the same quarter last year. Net income rose to $316.2 million from $231.3 million, while diluted earnings per share increased from $1.14. Operating revenues reached $1,182.8 million, compared with $1,045.0 million.

OG&E contributed $320.9 million in net income versus $242.9 million, as warmer weather lifted sales, partly offset by higher income tax expense. Other operations narrowed their loss to $4.7 million from $11.6 million. OGE Energy now expects 2026 diluted earnings of $2.62 to $2.68 per share, exceeding its original guidance range because of warmer-than-normal weather; the outlook assumes normal weather for the rest of the year. Nine-month net income increased to $482.7 million from $401.5 million, with diluted earnings per share rising to $2.32 from $1.99.

17 points · 1 major

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0 major · 11 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.OGE Energy now expects 2026 diluted EPS of $2.62 to $2.68, exceeding its original guidance range.
• Moderate pointThird-quarter net income rose to $316.2 million from $231.3 million; diluted EPS increased to $1.52 from $1.14.
• Moderate pointThird-quarter operating revenues increased to $1,182.8 million from $1,045.0 million a year earlier.
• Minor pointOG&E third-quarter net income rose to $320.9 million from $242.9 million, helped by warmer-weather sales.
• Minor pointOther operations' third-quarter loss narrowed to $4.7 million from $11.6 million on investment income and lower interest expense.

12 minor points

• Minor pointThird-quarter operating income increased to $428.5 million from $341.3 million a year earlier.
• Minor pointThird-quarter operation and maintenance expense declined to $137.1 million from $143.3 million a year earlier.
• Minor pointConsolidated interest expense fell to $63.0 million from $69.6 million in the third quarter.
• Minor pointConsolidated net other income increased to $10.7 million from $5.1 million in the third quarter.
• Minor pointNine-month net income rose to $482.7 million from $401.5 million; diluted EPS increased to $2.32 from $1.99.
• Minor pointNine-month operating revenues increased to $2,647.3 million from $2,534.3 million in 2025.
• Minor pointNine-month operating income increased to $733.2 million from $661.2 million in 2025.
• Minor pointOG&E nine-month net income increased to $498.9 million from $421.6 million in 2025.
• Minor pointNine-month consolidated interest expense declined to $189.6 million from $209.1 million in 2025.
• Minor pointNine-month consolidated net other income increased to $29.8 million from $27.1 million in 2025.
• Minor pointNine-month depreciation and amortization declined to $423.7 million from $424.7 million in 2025.
• Minor pointNine-month taxes other than income declined to $82.5 million from $82.6 million in 2025.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Updated 2026 guidance assumes normal weather for the remainder of the year; OG&E earnings have weather-related seasonality.
• Minor pointThird-quarter fuel, purchased power and direct transmission expense rose to $441.2 million from $388.5 million.
• Minor pointThird-quarter consolidated income tax expense increased to $60.0 million from $45.5 million a year earlier.
• Minor pointThird-quarter diluted average shares outstanding increased to 208.2 million from 202.1 million a year earlier.
• Minor pointThird-quarter depreciation and amortization increased to $149.2 million from $146.7 million a year earlier.

6 minor points

• Minor pointThird-quarter taxes other than income increased to $26.8 million from $25.2 million a year earlier.
• Minor pointOG&E third-quarter interest expense increased to $55.7 million from $54.2 million a year earlier.
• Minor pointNine-month fuel, purchased power and direct transmission expense rose to $995.6 million from $973.6 million.
• Minor pointNine-month operation and maintenance expense increased to $412.3 million from $392.2 million in 2025.
• Minor pointNine-month consolidated income tax expense increased to $90.7 million from $77.7 million in 2025.
• Minor pointNine-month diluted average shares outstanding increased to 207.7 million from 202.0 million in 2025.

Key Figures

Diluted EPS: $1.52 per share vs. $1.14 Net income: $316.2 million vs. $231.3 million 2026 earnings guidance: $2.62 to $2.68 per average diluted share

Diluted EPS

$1.52 per share vs. $1.14

Third quarter 2026 vs. third quarter 2025

Net income

$316.2 million vs. $231.3 million

Third quarter 2026 vs. third quarter 2025

2026 earnings guidance

$2.62 to $2.68 per average diluted share

Updated consolidated guidance

Previous Earnings Reports

2 past events · Latest: Jul 29

Same Type 2 events

1. Jul 29

   Quarterly earnings

   24h Move

   -3.1%

   Q2 net income and diluted EPS increased year over year; 2026 guidance was reaffirmed.

2. Apr 29

   Quarterly earnings

   24h Move

   -0.5%

   Q1 net income and diluted EPS declined year over year; 2026 guidance was maintained.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OKLAHOMA CITY, Oct. 28, 2026 /PRNewswire/ -- OGE Energy Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric Company ("OG&E"), today reported earnings of $1.52 per diluted share during the three months that ended September 30, 2026, compared to $1.14 per diluted share in the third quarter 2025.

• OG&E, a regulated electric company, contributed earnings of $1.54 per diluted share in the third quarter, compared to earnings of $1.20 per diluted share in the third quarter 2025.
• Other operations, which includes the holding company, contributed a loss of $0.02 per diluted share compared to a loss of $0.06 per diluted share in the third quarter of 2025.

"I'm proud of our team for delivering reliable service through record-setting weather conditions while continuing to execute on investments that strengthen the grid and position us to support future growth across our region," said Sean Trauschke, Chairman, President and CEO of OGE Energy Corp.

Third Quarter 2026 results

OG&E contributed net income of $320.9 million, or $1.54 per diluted share, in the third quarter compared to $242.9 million, or $1.20 per diluted share, in the same period 2025. The increase in net income was driven by stronger sales from significantly warmer weather, partially offset by increased income tax expense.

Other Operations resulted in a loss of $4.7 million, or $0.02 per diluted share, in the third quarter compared to a loss of $11.6 million, or $0.06 per diluted share, in the same period 2025. Results were driven by higher income from energy-related investments and lower interest expense.

OGE Energy's net income was $316.2 million or $1.52 per diluted share in the third quarter, compared to earnings of $231.3 million, or $1.14 per diluted share, in the same period 2025.

2026 Outlook

Due to warmer than normal weather, OGE Energy expects to exceed its original 2026 earnings guidance range. OGE Energy now expects consolidated earnings between $2.62 to $2.68 per average diluted share. The guidance assumes, among other things, normal weather for the remainder of the year. OG&E has significant seasonality in its earnings due to weather on a year-over-year basis.

See OGE Energy's 2025 Form 10-K for other key factors and assumptions underlying its 2026 guidance.

Conference Call Webcast

OGE Energy Corp. will host an earnings and business update conference call on Wednesday, October 28, 2026, at 8 a.m. CDT. The conference will be available through the Investor Center at www.oge.com.

Some of the matters discussed 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. 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, adjustments in market pricing mechanisms by the SPP, or allocation of transmission upgrade costs; 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, 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 its 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 the Company's 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 the Company's business, reputation or financial results; creditworthiness of suppliers, customers and other contractual parties, including large, new customers from industries such as cryptocurrency and data centers; 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 September 30, 2026; 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, 2025.

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								Nine Months Ended
		September 30,								September 30,
(In millions, except per share data)		2026				2025				2026				2025
OPERATING REVENUES
Revenues from contracts with customers		$	1,162.9			$	1,028.4			$	2,587.6			$	2,489.2
Other revenues			19.9				16.6				59.7				45.1
Operating revenues			1,182.8				1,045.0				2,647.3				2,534.3
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE			441.2				388.5				995.6				973.6
OPERATING EXPENSES
Other operation and maintenance			137.1				143.3				412.3				392.2
Depreciation and amortization			149.2				146.7				423.7				424.7
Taxes other than income			26.8				25.2				82.5				82.6
Operating expenses			313.1				315.2				918.5				899.5
OPERATING INCOME			428.5				341.3				733.2				661.2
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction			7.4				6.3				22.2				19.3
Other net periodic benefit expense			(2.6)				(2.7)				(7.8)				(8.2)
Other income			17.5				6.1				46.4				30.3
Other expense			(11.6)				(4.6)				(31.0)				(14.3)
Net other income			10.7				5.1				29.8				27.1
INTEREST EXPENSE
Interest on long-term debt			71.7				66.4				209.6				194.4
Allowance for borrowed funds used during construction			(3.5)				(3.7)				(10.5)				(11.9)
Interest on short-term debt and other interest charges			(5.2)				6.9				(9.5)				26.6
Interest expense			63.0				69.6				189.6				209.1
INCOME BEFORE TAXES			376.2				276.8				573.4				479.2
INCOME TAX EXPENSE			60.0				45.5				90.7				77.7
NET INCOME		$	316.2			$	231.3			$	482.7			$	401.5
BASIC AVERAGE COMMON SHARES OUTSTANDING			206.7				201.5				206.5				201.3
DILUTED AVERAGE COMMON SHARES OUTSTANDING			208.2				202.1				207.7				202.0
BASIC EARNINGS PER AVERAGE COMMON SHARE		$	1.53			$	1.15			$	2.34			$	1.99
DILUTED EARNINGS PER AVERAGE COMMON SHARE		$	1.52			$	1.14			$	2.32			$	1.99

 

OKLAHOMA GAS AND ELECTRIC COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(In millions)		2026				2025				2026				2025
OPERATING REVENUES
Revenues from contracts with customers		$	1,162.9			$	1,028.4			$	2,587.6			$	2,489.2
Other revenues			19.9				16.6				59.7				45.1
Operating revenues			1,182.8				1,045.0				2,647.3				2,534.3
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE			441.2				388.5				995.6				973.6
OPERATING EXPENSES
Other operation and maintenance			137.1				143.5				412.5				391.6
Depreciation and amortization			149.2				146.7				423.7				424.7
Taxes other than income			26.8				25.2				82.5				82.6
Operating expenses			313.1				315.4				918.7				898.9
OPERATING INCOME			428.5				341.1				733.0				661.8
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction			7.4				6.3				22.2				19.3
Other net periodic benefit expense			(2.5)				(2.7)				(7.5)				(7.8)
Other income			8.4				4.2				17.5				13.6
Other expense			(0.8)				(0.5)				(2.2)				(1.9)
Net other income			12.5				7.3				30.0				23.2
INTEREST EXPENSE
Interest on long-term debt			66.0				60.6				192.5				177.0
Allowance for borrowed funds used during construction			(3.5)				(3.7)				(10.5)				(11.9)
Interest on short-term debt and other interest charges			(6.8)				(2.7)				(17.9)				9.3
Interest expense			55.7				54.2				164.1				174.4
INCOME BEFORE TAXES			385.3				294.2				598.9				510.6
INCOME TAX EXPENSE			64.4				51.3				100.0				89.0
NET INCOME		$	320.9			$	242.9			$	498.9			$	421.6
Other comprehensive income, net of tax			—				—				—				—
COMPREHENSIVE INCOME		$	320.9			$	242.9			$	498.9			$	421.6

 

OKLAHOMA GAS AND ELECTRIC COMPANY FINANCIAL AND STATISTICAL DATA
		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Dollars in millions)		2026				2025				2026				2025
Operating revenues by classification:
Residential		$	523.2			$	408.0			$	1,044.7			$	956.3
Commercial			346.3				319.1				773.9				753.8
Industrial			87.5				81.6				204.7				204.0
Oilfield			79.3				73.1				187.0				185.5
Public authorities and street light			99.3				87.7				223.5				213.0
System sales revenues			1,135.6				969.5				2,433.8				2,312.6
Provision for rate refund			—				—				—				3.0
Integrated market			29.3				23.6				104.0				71.2
Transmission			12.7				38.8				83.9				120.7
Other			5.2				13.1				25.6				26.8
Total operating revenues		$	1,182.8			$	1,045.0			$	2,647.3			$	2,534.3
MWh sales by classification (In millions)
Residential			3.9				3.1				8.3				7.7
Commercial			3.6				3.5				9.7				9.3
Industrial			1.1				1.1				3.1				3.1
Oilfield			1.1				1.1				3.3				3.2
Public authorities and street light			1.0				0.9				2.4				2.3
System sales			10.7				9.7				26.8				25.6
Integrated market			0.4				0.2				1.1				0.6
Total sales			11.1				9.9				27.9				26.2
Number of customers			918,559				910,464				918,559				910,464
Weighted-average cost of energy per kilowatt-hour (In cents)
Natural gas			2.954				3.190				3.959				3.704
Coal			2.647				2.765				2.633				2.759
Total fuel			2.759				2.965				3.403				3.243
Total fuel and purchased power			3.836				3.732				3.440				3.549
Degree days (A)
Heating - Actual			—				—				1,510				2,056
Heating - Normal			19				19				2,158				2,158
Cooling - Actual			1,897				1,288				2,761				1,886
Cooling - Normal			1,265				1,265				1,828				1,828
(A)   Degree days are calculated as follows: The high and low degrees of a particular day are added together and then averaged. If the         calculated average is above 65 degrees, then the difference between the calculated average and 65 is expressed as cooling degree         days, with each degree of difference equaling one cooling degree day. If the calculated average is below 65 degrees, then the         difference between the calculated average and 65 is expressed as heating degree days, with each degree of difference equaling         one heating degree day. The daily calculations are then totaled for the particular reporting period. The calculation of heating and         cooling degree normal days is based on a 30-year average and weighted on a jurisdictional split.

 

 

View original content:https://www.prnewswire.com/news-releases/oge-energy-corp-reports-third-quarter-2026-results-302921314.html

SOURCE OGE Energy Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were OGE Energy's third-quarter 2026 earnings?

OGE Energy earned $316.2 million, or $1.52 per diluted share, in the three months ended September 30, 2026. That compares with $231.3 million, or $1.14 per diluted share, in the same period of 2025.

What is OGE Energy's updated 2026 earnings guidance?

OGE Energy expects consolidated earnings of $2.62 to $2.68 per average diluted share for 2026, exceeding its original guidance range because of warmer-than-normal weather. The outlook assumes normal weather for the remainder of the year.