Portland GE Q2 Net Income at $62 Million, Seeks Regulatory Approval for Cost Recovery Initiatives

Portland General Electric reported a net income of $62 million for Q2 2025, driven by strong demand growth from data center customers and a 16.5% increase in industrial load. The company is seeking regulatory approval for cost recovery related to its Distribution System Plan and Seaside Battery Energy Storage System. PGE reaffirmed its 2025 earnings guidance and is working on finalizing contracts under the One Big Beautiful Bill to leverage federal tax credits and maintain low customer prices.

Portland General Electric (PGE) has released its Q2 2025 earnings report, showcasing robust performance driven by significant demand growth from data center customers and a 16.5% increase in industrial load [2]. The company reported a net income of $62 million for the quarter, an 8.53% year-over-year revenue growth, and an earnings per share (EPS) of $0.66, surpassing Wall Street expectations [2].

Key financial highlights include total revenues of $807 million, up from $758 million in the same period last year [1]. Operating expenses rose to $689 million from $642 million in the prior year, reflecting increased costs in generation, transmission, and distribution [1]. Despite the decline in net income, PGE continues to invest heavily in infrastructure, with capital expenditures of $596 million in the first half of 2025 [1].

PGE is seeking regulatory approval for cost recovery related to its Distribution System Plan and Seaside Battery Energy Storage System. The company reaffirmed its 2025 earnings guidance, projecting EPS between $3.13 and $3.33 [2]. PGE is also working on finalizing contracts under the One Big Beautiful Bill to leverage federal tax credits and maintain low customer prices [2].

The company's stock price rose 4.2% in aftermarket trading following the earnings announcement, reaching $39.85 [2]. The stock is currently trading near its 52-week low of $39.55, suggesting potential value opportunity for investors [2].

References:
[1] https://www.tipranks.com/news/company-announcements/portland-general-electric-reports-q2-2025-earnings
[2] https://www.investing.com/news/transcripts/earnings-call-transcript-portland-general-electric-beats-q2-2025-forecasts-93CH-4154048