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OGE Energy Q3 Profit Increases, Above Estimates; Guides Annual Earnings Below View - Update

(Adds Outlook)

OGE Energy Corp. (OGE) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $262.8 million, or $1.31 per share. This compares with $252.5 million, or $1.26 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 46.9% to $1.270 billion from $864.4 million last year.

Outlook:

Looking ahead, for the fiscal 2022, OG&E expects to earn around $417.0 million to $425.0 million, or $2.08 to $2.12 per share.

Analysts on average expect the company to earn $2.18 per share.


OGE Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $262.8 Mln. vs. $252.5 Mln. last year.
-EPS (Q3): $1.31 vs. $1.26 last year.
-Analyst Estimate: $1.18
-Revenue (Q3): $1.270 Bln vs. $864.4 Mln last year.

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