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Portland General Electric Q3 net income $55 million

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Christian Fernsby ▼ | November 1, 2019
Portland General Electric Company reported net income of $55 million, or 61 cents per diluted share, for the third quarter of 2019.
Portland General Electric
Portland General Electric   The increase in third quarter earnings was driven by favorable costs
This compares with net income of $53 million, or 59 cents per diluted share, for the third quarter of 2018.

Topics: Portland General Electric

PGE reaffirmed its 2019 earnings guidance range of $2.35 to $2.50 per diluted share and expects to be in the lower half of the range.

The increase in third quarter earnings was driven by favorable net variable power costs compared with the third quarter of 2018.

Higher operating expenses were driven by wildfire mitigation, vegetation management and other miscellaneous items.

A decrease in third quarter earnings was attributable to the absence of the Carty Generation Station cash settlement that occurred in 2018.

PGE is reaffirming its 2019 guidance of $2.35 to $2.50 per diluted share and expects to be in the lower half of this range.


 

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