Portland General Electric Q1 adjusted EPS misses estimates, hurt by regulatory and business expenses

Portland General Electric Co

01/05/2026 10:10

Overview

US electric utility's Q1 adjusted EPS missed analyst expectations

Q1 net revenue declined yr/yr due to mild winter and lower residential, commercial usage

Company reaffirmed 2026 adjusted earnings guidance of $3.33-$3.53 per share

Outlook

Company reaffirms 2026 adjusted earnings guidance of $3.33 to $3.53 per diluted share

Company expects 2026 energy deliveries to rise 1.5% to 2.5%, weather adjusted

Company projects 2026 operating and maintenance expense of $810 mln to $830 mln

Result Drivers

MILD WINTER - Co said unusually mild winter weather led to lower residential and commercial energy usage

INDUSTRIAL DEMAND - Industrial customer demand grew 10% quarter-over-quarter, driven by continued growth from data center and high tech customers

REGULATORY AND BUSINESS EXPENSES - Operations and maintenance expense increased due to regulatory adjustment related to the January 2024 storm recovery deferral and business transformation and acquisition expenses

Company press release: ID:nPn438yrza

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Revenue
$863 mln
Q1 Adjusted EPS
Miss
$0.58
$0.88 (8 Analysts)
Q1 EPS
$0.38


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy."

Wall Street's median 12-month price target for Portland General Electric Co is $52.50, about 1.1% above its April 30 closing price of $51.93

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)