Fri, Apr 25, 10:02 AM (18 days ago)
**Portland General Electric Company (PGE) (POR) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $928 million, slightly down from $929 million in Q1 2024. - **Net Income:** $100 million, down 8% from $109 million in Q1 2024. - **Earnings per Share (EPS):** $0.91, down from $1.08 in Q1 2024. - **Operating Expenses:** $760 million, slightly down from $767 million in Q1 2024. - **Cash Flow from Operations:** $231 million, up from $175 million in Q1 2024. **Profit Margins:** - **Operating Margin:** 18.1%, up from 17.6% in Q1 2024. - **Net Margin:** 10.8%, down from 11.7% in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** $231 million, up from $175 million in Q1 2024. - **Capital Expenditures:** $359 million, up from $325 million in Q1 2024. **Earnings Changes:** - **Net Income Decrease:** $9 million, primarily due to lower wholesale revenues and higher income tax expense. - **EPS Decrease:** $0.17, due to lower net income and higher weighted-average shares outstanding. **Quarterly Performance Discussion:** - **Revenue:** Slight decrease due to lower wholesale revenues, partially offset by higher retail revenues. - **Expenses:** Increase in purchased power and fuel costs, offset by decreases in other operating expenses. - **Cash Flow:** Improvement in operating cash flow, driven by higher net income and changes in working capital. **Trends & Uncertainties:** - **Weather Impact:** Mild weather in Q1 2025 led to lower demand and wholesale prices. - **Regulatory Uncertainties:** Ongoing regulatory proceedings and potential changes in tariffs and trade policies. - **Capital Expenditures:** Continued investment in transmission, distribution, and generation facilities. **Future Operations Impact:** - **Capital Expenditures:** PGE plans to invest $1.3 billion in 2025, focusing on BESS projects and other infrastructure improvements. - **Debt and Equity Financings:** PGE expects to fund capital requirements with cash from operations, long-term debt, and equity issuances. - **Regulatory and Legal Proceedings:** Ongoing proceedings related to Portland Harbor, Colstrip, and other matters may impact future financial performance.