Q3 2024 OGE Energy Corp Earnings Call Transcript
Key Points
- OGE Energy Corp (OGE) reported strong third-quarter consolidated earnings of $1.09 per share, driven by robust demand and customer growth.
- The company expects to be at the top of its original earnings guidance range of $2.06 to $2.18 per share for the year.
- OGE Energy Corp (OGE) has achieved exceptional weather-normalized load growth of 8.4% for the quarter, with strong growth across all customer classes.
- The company has completed its planned financings for the year and maintains a strong balance sheet with no fixed rate maturities until 2027.
- OGE Energy Corp (OGE) continues to invest in generation capacity and system reliability, with significant projects underway, including new hydrogen-capable natural gas units.
- Third-quarter net income decreased compared to the same period in 2023, primarily due to higher depreciation, interest, and operation expenses.
- The holding company reported a loss of approximately $6 million or $0.03 per diluted share in the third quarter.
- Higher interest expenses and income tax expenses have impacted the company's financial performance.
- The company faces challenges with turbine availability, which could affect resource mix and generation capacity planning.
- There are ongoing regulatory challenges, including the need for approval of the uncontested Oklahoma rate review settlement.
Welcome to the OGE Energy Corp. Q3 2024 Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Jason Bailey, Director of Investor Relations. Please go ahead.
Thank you, Corinne, and good morning, everyone, and welcome to our call. With me today I have Sean Trauschke, our Chairman, President and CEO; and Chuck Walworth, Interim CFO. In terms of the call today, we will first hear from Sean, followed by an explanation from Chuck of financial results, and finally, as always, we will answer your questions.
I'd like to remind you that this conference is being webcast, and you may follow along at oge.com. In addition, the conference call and accompanying slides will be archived following the call on that same website.
Before we begin the presentation, I'd like to direct your attention to the safe harbor statement regarding forward-looking statements.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
