Portland General Electric Reports Q3 2026 Results and Revises Full-Year Guidance Downward
Portland General Electric (POR) reported third-quarter 2026 non-GAAP earnings per share of $1.06, up from $1.00 in the prior-year period, despite facing significant weather headwinds. While total revenues rose to $971 million, the company lowered its full-year 2026 adjusted earnings guidance to a range of $3.18 to $3.28 per diluted share, down from the previous estimate of $3.33 to $3.53, citing an unusually mild summer that reduced residential and commercial energy deliveries. Despite short-term weather impacts, the company highlighted strong long-term growth drivers, specifically a 9% year-over-year increase in industrial load driven by technology and data center demand. Management also raised its annual large load capacity growth forecast to 12% through 2030. Looking ahead, PGE is focusing on significant renewable investments, including the Biglow and Salmonfly build-transfer projects, with estimated 2027 capital expenditures reaching $2.5 billion.
Tickers: $POR
Topics: earnings report guidance revision load growth renewable energy investment revenue growth