Portland General Electric Company Q1 Profit Increases, beats estimates

(RTTNews) - Portland General Electric Company (POR) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $110 million, or $1.08 per share. This compares with $74 million, or $0.80 per share, in last year's first quarter.

Excluding items, Portland General Electric Company reported adjusted earnings of $123 million or $1.21 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.2% to $929 million from $748 million last year.

Portland General Electric Company earnings at a glance (GAAP) :

-Earnings (Q1): $110 Mln. vs. $74 Mln. last year. -EPS (Q1): $1.08 vs. $0.80 last year. -Revenue (Q1): $929 Mln vs. $748 Mln last year.

-Guidance: Full year EPS guidance: $2.98 to $3.18