Portland General Electric Sees Higher Earnings In FY22; Confirms Long Term View

(RTTNews) - Portland General Electric Co. (POR), while announcing fourth-quarter results, initiated fiscal 2022 earnings guidance of $2.75 to $2.90 per share and reaffirmed 4 percent to 6 percent long-term earnings per share growth using 2019 base year.

On average, 11 analysts polled by Thomson Reuters expect earnings of $2.81 per share for the year 2022. Analysts' estimates typically exclude special items.

In fiscal 2021, the company recorded earnings per share of $2.72 per share.

The outlook reflects an increase in energy deliveries between 2 percent and 2.5 percent, weather adjusted.

Maria Pope, PGE President and CEO, said, "Against the backdrop of the ongoing pandemic, the historic ice storm and record heat, we focused on investments to improve reliability and resiliency. Looking ahead to 2022, we are advancing our use of technology and digital capabilities, accelerating our procurement of renewable resources, and deploying infrastructure to advance a smarter grid."