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Portland General Electric misses Q3 adjusted EPS estimates, revises 2026 outlook

By Reuters News


Overview

  • U.S. electric utility's Q3 adjusted EPS missed analyst expectations

  • Company's Q3 results impacted by historically mild weather reducing customer demand

  • Company lowered 2026 adjusted earnings guidance due to mild weather, long-term outlook unchanged


Outlook

  • Company revises 2026 adjusted EPS guidance to $3.18-$3.28 per share

  • Company says 2026 guidance cut reflects impact of unusually mild third-quarter weather

  • Company says long-term earnings guidance remains unchanged


Result Drivers

  • MILD WEATHER - Co said historically mild weather reduced customer demand and negatively impacted Q3 adjusted EPS

  • INDUSTRIAL DEMAND - Co said industrial customer demand grew 9% year over year, led by high-tech and data center customers

  • COST MANAGEMENT - Co said continued execution on cost management initiatives contributed to Q3 earnings


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Revenue

$969 mln

Q3 Adjusted EPS

Miss

$1.06

$1.11 (8 Analysts)

Q3 EPS

$1


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the electric utilities peer group is "buy."

  • Wall Street's median 12-month price target for Portland General Electric Co is $50.00, about 12.9% above its October 28 closing price of $44.27

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Oct 28 - American Electric Power Q3 revenue rises 13.7%, beats estimates

  • Oct 27 - FirstEnergy Q3 revenue beats analyst estimates; confirms FY core earnings guidance

  • Oct 28 - NiSource Q3 profit beats; narrows 2026 adjusted EPS forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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