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Earnings analysis · 10-Q

POR earnings analysis

Filed April 30, 2026 · Our reading of the company's report

The latest report

Portland General Electric (POR) reported Q1 2026 revenue of $950 million and diluted EPS of $0.85, slightly under estimates of $956 million and $0.78, respectively. The company faced challenges with declining operating…

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Portland General Electric (POR) reported Q1 2026 revenue of $950 million and diluted EPS of $0.85, slightly under estimates of $956 million and $0.78, respectively. The company faced challenges with declining operating margins, leading to a net income decrease of 55% year-over-year, but managed to generate improved free cash flow of $115 million, up from $100 million in the previous quarter.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $40 Operating expenses $50 Left as operating profit $10

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$0.85
Segment
Residential
Segment
Commercial
Segment
Industrial
Segment
Wholesale

What stood out

  • Revenue Near Estimation

    Reported revenue was $950 million, closely aligned with estimates of $956 million.

  • EPS Beat Estimates

    Diluted EPS of $0.85 exceeded analyst estimates of $0.78.

  • Improved Free Cash Flow

    Free cash flow showed recovery, reaching $115 million compared to $100 million in the prior quarter.

  • Growth in Industrial Demand

    Industrial energy deliveries increased by 9.3% year-over-year, highlighting strength in this sector.

  • Expansion Plans Underway

    PGE is progressing on a $1.9 billion acquisition of certain assets from PacifiCorp to expand service in Washington.

  • Higher Capital Expenditures Planned

    The company is set to invest $1.7 billion in capital expenditures for 2026.

What to watch

  • Declining Operating Margins

    Operating margin shrank to 10.1% from 14.6% year-over-year due to lower demand from residential and commercial sectors.

  • Regulatory Disallowances

    PGE recorded $15 million in charges related to OPUC orders pertaining to storm recovery and reliability contingency events.

  • Increased Financial Pressure

    Interest expense rose 7% year-over-year, driven by increasing long-term debt obligations.

Management's outlook

Revenue guidance for the fiscal year remains unchanged.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.