Portland General Electric Reports Decline in Annual Earnings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy POR?
Source: NASDAQ.COM
- Earnings Decline: Portland General Electric reported a net income of $306 million for 2023, translating to $2.77 per share, which is a decrease from last year's $313 million and $3.01 per share, indicating pressure on the company's profitability.
- Adjusted Earnings: Excluding special items, the company reported adjusted earnings of $336 million or $3.05 per share, showing some resilience in profitability despite the overall decline in net income.
- Revenue Growth: The company's revenue for 2023 reached $3.576 billion, up 4.0% from $3.440 billion last year, suggesting potential for revenue growth even amid declining earnings.
- Market Reaction: The decline in earnings, despite revenue growth, may negatively impact investor confidence, leading to stock price volatility and reflecting market concerns regarding the company's future profitability.
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Analyst Views on POR
Wall Street analysts forecast POR stock price to fall
10 Analyst Rating
1 Buy
7 Hold
2 Sell
Hold
Current: 50.980
Low
41.00
Averages
46.70
High
52.00
Current: 50.980
Low
41.00
Averages
46.70
High
52.00
About POR
Portland General Electric Company is an integrated energy company that generates, transmits and distributes electricity. The Company is engaged in the generation, wholesale purchase and sale, transmission, distribution, and retail sale of electricity to customers in the state of Oregon (State). The Company participates in the wholesale market through the purchase and sale of electricity and natural gas in an effort to obtain reasonably-priced power to serve its retail customers. The Company meets its retail load requirement with both Company-owned generation and power purchased on the wholesale market. The Company has five natural gas-fired generating facilities: PW1, PW2, Beaver, Coyote Springs Unit 1 (Coyote Springs), and Carty Generating Station (Carty). It owns and operates two wind farms, Biglow Canyon Wind Farm (Biglow Canyon) and Tucannon River Wind Farm (Tucannon River). Biglow Canyon is located in Sherman County, Oregon. Tucannon River is located in southeastern Washington.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Portland General Electric Reports Decline in Annual Earnings
- Earnings Decline: Portland General Electric reported a net income of $306 million for 2023, translating to $2.77 per share, which is a decrease from last year's $313 million and $3.01 per share, indicating pressure on the company's profitability.
- Adjusted Earnings: Excluding special items, the company reported adjusted earnings of $336 million or $3.05 per share, showing some resilience in profitability despite the overall decline in net income.
- Revenue Growth: The company's revenue for 2023 reached $3.576 billion, up 4.0% from $3.440 billion last year, suggesting potential for revenue growth even amid declining earnings.
- Market Reaction: The decline in earnings, despite revenue growth, may negatively impact investor confidence, leading to stock price volatility and reflecting market concerns regarding the company's future profitability.
See More
Portland General Electric Stock Falls 2.9% in Premarket Following $480 Million Share Offering
Stock Performance: Portland General Electric shares fell by 2.9% in pre-market trading.
Stock Offering: The decline followed a $480 million stock offering announcement.
See More
Portland General Electric Set to Announce Q4 Earnings
- Earnings Announcement Date: Portland General Electric (POR) is set to release its Q4 2025 earnings on February 20 before market open, with consensus EPS estimate at $1.09, reflecting a significant year-over-year decline of 65.3%, which may negatively impact investor sentiment.
- Revenue Decline Forecast: The revenue estimate for the quarter stands at $942.99 million, indicating a substantial year-over-year drop of 72.6%, highlighting the challenges the company faces in the current economic climate, potentially affecting future investment and expansion plans.
- Historical Performance Review: Over the past two years, POR has exceeded EPS estimates 75% of the time and revenue estimates 88% of the time, demonstrating a degree of stability in financial performance, despite the current low expectations.
- Expectation Revision Status: In the last three months, EPS estimates have seen two upward revisions and one downward revision, while revenue estimates have not seen any upward revisions, only one downward revision, indicating a weakening market confidence in the company's future performance.
See More
Portland General Electric Prices Public Offering
- Public Offering Pricing: Portland General Electric has priced an underwritten public offering of approximately 9.47 million shares at $50.70 per share, expected to close on February 19, 2026, which will provide essential funding for future investment needs.
- Underwriter Selection: The offering is tied to forward sale agreements with Wells Fargo Bank and Bank of America, where forward purchasers borrow and sell shares to underwriters, demonstrating the company's flexibility and diverse financing strategies in the capital markets.
- Additional Share Option: The underwriters have a 30-day option to purchase up to 1.38 million additional shares, which, if exercised, will further strengthen the company's capital structure and provide more funding for future expansions.
- Stock Price Impact: Following the public offering announcement, Portland General Electric's stock price dropped 3.1% during after-market trading on Tuesday, reflecting market reactions to the offering and potential short-term pressure on the company's stock price.
See More
Portland General Electric Announces Public Offering of Common Stock
- Offering Size: Portland General Electric announced a public offering of 9,467,455 shares at a price of $50.70 per share, expected to close on February 19, 2026, with proceeds aimed at supporting future renewable energy investments.
- Underwriter Lineup: The offering is led by Wells Fargo Securities and BofA Securities, with Barclays and J.P. Morgan as active book-runners, indicating strong market interest in the company's stock and potentially enhancing its reputation among investors.
- Additional Share Option: The underwriters have a 30-day option to purchase up to 1,380,670 additional shares, which, if exercised, could lead to further forward sale agreements, thereby enhancing the company's capital liquidity.
- Use of Proceeds: The company intends to use any net proceeds from future settlements of forward sale agreements for general corporate purposes and renewable energy investments, demonstrating its commitment to achieving an 80% reduction in emissions by 2030.
See More
Portland General Electric Launches $480M Public Offering Amid Asset Acquisition
- Public Offering Initiation: Portland General Electric has commenced a public offering of $480 million in common shares, with underwriters having the option to purchase an additional $70 million, which may further pressure the stock price in the market.
- Asset Acquisition Deal: The company has struck a deal to acquire wind, natural gas generation, and distribution assets from Berkshire Hathaway's PacifiCorp in Washington state for $1.9 billion, including three generation facilities and 4,500 miles of transmission and distribution lines, expected to serve approximately 140,000 customers.
- Financial Improvement Strategy: PacifiCorp stated that this asset sale is a critical step in improving its financial position and simplifying operations, especially in light of facing billions in claims related to wildfires in Oregon and California in 2020 and 2022.
- Market Reaction: Portland General Electric's stock fell 2.7% in regular trading and declined another 1.4% in after-hours trading, reflecting market caution regarding its financing plans and acquisition deal.
See More
Portland General Electric Reports Decline in Annual Earnings
- Earnings Decline: Portland General Electric reported a net income of $306 million for 2023, translating to $2.77 per share, which is a decrease from last year's $313 million and $3.01 per share, indicating pressure on the company's profitability.
- Adjusted Earnings: Excluding special items, the company reported adjusted earnings of $336 million or $3.05 per share, showing some resilience in profitability despite the overall decline in net income.
- Revenue Growth: The company's revenue for 2023 reached $3.576 billion, up 4.0% from $3.440 billion last year, suggesting potential for revenue growth even amid declining earnings.
- Market Reaction: The decline in earnings, despite revenue growth, may negatively impact investor confidence, leading to stock price volatility and reflecting market concerns regarding the company's future profitability.
See More
Portland General Electric Stock Falls 2.9% in Premarket Following $480 Million Share Offering
Stock Performance: Portland General Electric shares fell by 2.9% in pre-market trading.
Stock Offering: The decline followed a $480 million stock offering announcement.
See More
Portland General Electric Set to Announce Q4 Earnings
- Earnings Announcement Date: Portland General Electric (POR) is set to release its Q4 2025 earnings on February 20 before market open, with consensus EPS estimate at $1.09, reflecting a significant year-over-year decline of 65.3%, which may negatively impact investor sentiment.
- Revenue Decline Forecast: The revenue estimate for the quarter stands at $942.99 million, indicating a substantial year-over-year drop of 72.6%, highlighting the challenges the company faces in the current economic climate, potentially affecting future investment and expansion plans.
- Historical Performance Review: Over the past two years, POR has exceeded EPS estimates 75% of the time and revenue estimates 88% of the time, demonstrating a degree of stability in financial performance, despite the current low expectations.
- Expectation Revision Status: In the last three months, EPS estimates have seen two upward revisions and one downward revision, while revenue estimates have not seen any upward revisions, only one downward revision, indicating a weakening market confidence in the company's future performance.
See More
Portland General Electric Prices Public Offering
- Public Offering Pricing: Portland General Electric has priced an underwritten public offering of approximately 9.47 million shares at $50.70 per share, expected to close on February 19, 2026, which will provide essential funding for future investment needs.
- Underwriter Selection: The offering is tied to forward sale agreements with Wells Fargo Bank and Bank of America, where forward purchasers borrow and sell shares to underwriters, demonstrating the company's flexibility and diverse financing strategies in the capital markets.
- Additional Share Option: The underwriters have a 30-day option to purchase up to 1.38 million additional shares, which, if exercised, will further strengthen the company's capital structure and provide more funding for future expansions.
- Stock Price Impact: Following the public offering announcement, Portland General Electric's stock price dropped 3.1% during after-market trading on Tuesday, reflecting market reactions to the offering and potential short-term pressure on the company's stock price.
See More
Portland General Electric Announces Public Offering of Common Stock
- Offering Size: Portland General Electric announced a public offering of 9,467,455 shares at a price of $50.70 per share, expected to close on February 19, 2026, with proceeds aimed at supporting future renewable energy investments.
- Underwriter Lineup: The offering is led by Wells Fargo Securities and BofA Securities, with Barclays and J.P. Morgan as active book-runners, indicating strong market interest in the company's stock and potentially enhancing its reputation among investors.
- Additional Share Option: The underwriters have a 30-day option to purchase up to 1,380,670 additional shares, which, if exercised, could lead to further forward sale agreements, thereby enhancing the company's capital liquidity.
- Use of Proceeds: The company intends to use any net proceeds from future settlements of forward sale agreements for general corporate purposes and renewable energy investments, demonstrating its commitment to achieving an 80% reduction in emissions by 2030.
See More
Portland General Electric Launches $480M Public Offering Amid Asset Acquisition
- Public Offering Initiation: Portland General Electric has commenced a public offering of $480 million in common shares, with underwriters having the option to purchase an additional $70 million, which may further pressure the stock price in the market.
- Asset Acquisition Deal: The company has struck a deal to acquire wind, natural gas generation, and distribution assets from Berkshire Hathaway's PacifiCorp in Washington state for $1.9 billion, including three generation facilities and 4,500 miles of transmission and distribution lines, expected to serve approximately 140,000 customers.
- Financial Improvement Strategy: PacifiCorp stated that this asset sale is a critical step in improving its financial position and simplifying operations, especially in light of facing billions in claims related to wildfires in Oregon and California in 2020 and 2022.
- Market Reaction: Portland General Electric's stock fell 2.7% in regular trading and declined another 1.4% in after-hours trading, reflecting market caution regarding its financing plans and acquisition deal.
See More
