Portland General Electric Surpasses Q2 Expectations with EPS of $0.66 and Revenue of $807M

Portland General Electric reported Q2 Non-GAAP EPS of $0.66, beating expectations by $0.02. Revenue reached $807M, a 6.5% YoY increase and $13.69M above estimates. The company's financial results were driven by significant demand growth from data center customers, leading to a 16.5% increase in industrial load quarter-over-quarter.

Portland General Electric (PGE) reported its second quarter 2025 financial results, with Non-GAAP EPS of $0.66, exceeding expectations by $0.02. Revenue reached $807 million, marking a 6.5% year-over-year (YoY) increase and $13.69 million above estimates. The company's financial performance was significantly bolstered by substantial demand growth from data center customers, resulting in a 16.5% quarter-over-quarter increase in industrial load [1].

Maria Pope, President and CEO of PGE, commented on the second quarter, stating, "The second quarter was a period of execution and solid progress at Portland General Electric. We are focused on safely and reliably serving customers, engaging with stakeholders, driving efficiencies, and updating our corporate structure to lower costs and deliver results" [1].

Revenue growth was primarily driven by continued demand from semiconductor manufacturing and technology infrastructure customers, partially offset by a lower average price of deliveries from changing customer mix. Operating and maintenance expenses increased due to wildfire mitigation, vegetation management, and business transformation expenses. Depreciation and amortization expense and interest expense also increased due to ongoing capital investment [1].

PGE is reaffirming its 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share, based on various assumptions, including an increase in energy deliveries between 2.5% and 3.5%, weather adjusted; execution of power cost and financing plans; and normal temperatures in its utility service territory [1].

The company is also submitting a formal application to the Oregon Public Utilities Commission (OPUC) for approval of a holding company reorganization, which aims to provide benefits to customers and shareholders by taking advantage of the financial flexibility provided by a holding company structure [1].

PGE is committed to collaborating with key stakeholders and providing safe, reliable service at the lowest possible cost for customers. The company's quarterly dividend remains at $0.525 per share, payable on or before October 15, 2025 [1].

Portland General Electric will host a conference call with financial analysts and investors on Friday, July 25, 2025, at 11 a.m. ET, to discuss the earnings results [1].

References:
[1] https://www.prnewswire.com/news-releases/portland-general-electric-announces-second-quarter-2025-results-302513731.html