Portland General Electric Announces Third Quarter 2026 Results
Key Highlights
- ➤2026 adjusted EPS $1.06, up from $1.00 despite mild weather
- ➤2026 adjusted EPS guidance cut to $3.18-$3.28 due to mild weather
- ➤Industrial customer demand grew 9% year over year, weather-adjusted
- ➤EDAM participation expected to deliver approximately $14 million customer savings in 2027
- ➤Biglow solar-battery project entails approximately $900 million investment
Expert Statements
Maria Pope, President and CEO of Portland General Electric
“We continue to execute on our strategic priorities. Industrial demand grew 9% on a weather-adjusted basis year over year, and cooler summer weather reduced residential and small-commercial demand.”
Maria Pope, President and CEO of Portland General Electric
“Our October 1(st) go-live of the Extended Day-Ahead Market is reducing power-costs and energy market volatility, delivering an estimated $14 million in customer savings in 2027.”
* Third-quarter adjusted EPS of $1.06 reflects the unfavorable impact of historically mild weather * Industrial customer demand grew 9% year over year, driven by continued growth from high-tech and data center customers * Revising 2026 adjusted earnings guidance to $3.18 to $3.28 per diluted share, due to the impact of unusually mild weather during the third quarter; long-term guidance remains intact
Portland, Oregon--(Newsfile Corp. - October 29, 2026) - Portland General Electric Company (NYSE: POR) today reported third quarter 2026 net income of $119 million, or $1.00 per diluted share, on a generally accepted accounting principles (GAAP) basis. After adjusting for business transformation, optimization and acquisition expenses, third quarter 2026 non-GAAP net income was $125 million, or $1.06 per diluted share. This compares with third quarter 2025 GAAP net income of $103 million, or $0.94 per diluted share, and non-GAAP net income of $110 million, or $1.00 per diluted share.
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