Portland General Electric Company Reaffirms Earnings Guidance - Quick Facts

(RTTNews) - Portland General Electric Company (POR) reaffirmed its 2020 earnings guidance of $1.40 to $1.60 per share and expects to be in the upper half of this range. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.53. Analysts' estimates typically exclude special items.

Third quarter non-GAAP net income was $80 million, or $0.90 per share compared to GAAP net income of $55 million, or $0.61 per share, a year ago. Third quarter total revenues increased to $547 million from $542 million, previous year.

The company announced a $100 million increase to its capital plan through 2021. The company said these investments in grid resiliency, system modernization and infrastructure to serve new large customers will enhance its ability to deliver safe, clean, reliable and affordable energy.