OGE Energy maintains annual earnings guidance as net income rises
The utility provider reported consolidated earnings of $0.56 per diluted share for the second quarter.
OGE Energy (OGE) reported second-quarter consolidated earnings of $0.56 per diluted share. The result rose from $0.53 per diluted share in the same period last year.
The utility provider saw a divergence between its top-line revenue and bottom-line profitability. Operating revenues decreased to $711.9 million from $741.6 million in the prior-year quarter. However, the company benefited from a reduction in fuel, purchased power and direct transmission expenses, which fell to $217.7 million from $261.1 million.
Growth in the customer base and demand supported the quarter. Total sales volume increased to 8.8 billion MWh from 8.1 billion MWh in the prior year. The company's customer count grew to 917,157, up from 909,131.
Performance was driven primarily by the OG&E segment, which contributed net income of $120.1 million, or $0.58 per diluted share. This was an increase from the $107.7 million, or $0.53 per diluted share, reported in the second quarter of 2024. The gain was due to lower interest expense and increased recovery of capital investments.
Other Operations reported a loss of $3.8 million, or $0.02 per diluted share. This loss widened from a $0.2 million loss in the prior-year quarter. Higher interest expense and the absence of a one-time benefit from legacy midstream operations that had occurred in 2024 contributed to the result.
For the first six months of 2025, net income was $166.5 million, a decrease from $170.2 million for the same period in 2024.
OGE reiterated its 2025 consolidated earnings guidance at $2.43 per average diluted share, with a range between $2.38 and $2.48. This outlook remains unchanged from the guidance provided in the first quarter of 2025.