Portland General Electric Increases Long-Term EPS Growth Guidance; Reaffirms 2022 Earnings Outlook

(RTTNews) - Portland General Electric Company (POR) said the company is increasing long-term EPS growth guidance from 4% to 6% from a 2019 base year to 5% to 7% EPS from a 2022 adjusted base year. The company also increased long-term load growth guidance from 1.5% to 2%.

PGE reaffirmed its estimate for full-year 2022 GAAP earnings guidance of $2.60 to $2.75 per share and its non-GAAP adjusted 2022 earnings guidance of $2.74 to $2.89.

Third quarter net income was $58 million, or $0.65 per share, compared with net income of $50 million, or $0.56 per share, a year ago. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.62, for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $743 million from $642 million. Analysts on average had estimated $636.6 million in revenue.

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