Portland General Electric Q2 2026 Results
Portland General Electric Company reported second‑quarter 2026 adjusted earnings per share of $0.64, falling short of the consensus estimate of $0.74 by $0.10. Revenue for the quarter was $814 million, a 0.9 % increase from $807 million in the same quarter last year, but below the analyst consensus of $847.59 million.
The company reaffirmed its full‑year 2026 adjusted earnings guidance of $3.33 to $3.53 per share, with the midpoint of $3.43 exceeding the analyst consensus of $3.39 per share.
Industrial customer demand grew 11 % year‑over‑year, driven by continued growth from high‑tech and data‑center customers, while residential and commercial loads remained relatively flat.
\"Affordability remains a national focus, and we have taken proactive steps to address customer cost pressures while supporting continued economic growth in our region,\" said Maria Pope, President and CEO.
The newly approved large‑customer tariff, effective 8 July 2026, raises data‑center pricing by approximately 30 % while lowering rates for all other customers.
On a GAAP basis, second‑quarter net income was $68 million, or $0.59 per diluted share, compared with $62 million, or $0.56 per diluted share, in Q2 2025. After adjustments for business transformation, optimization and acquisition expenses, non‑GAAP net income was $74 million.
Portland General Electric will file its 2027 general rate case next week, proposing an overall increase of about 4.8 % relative to the currently approved prices, with the new rates expected to take effect on 1 July 2027.