OGE
OGE Energy Corp.43.07
-0.13-0.3%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms, adds capex details
Q&A largely reaffirmed prepared remarks on 2026's $2.43 EPS midpoint and 5-7% long-term growth, but added color on moderating weather-normalized load growth to 4-6% from 2025's 7% due to natural ebb-and-flow, excluding Customer X. Management disclosed 9% rate base growth under the current plan and pegged OGE's Seminole-Shreveport 765 kV share preliminarily at 20% of capex. Black Kettle storage termination validated owning generation assets. Finalizing 1GW Customer X deal midyear with protections; talks ongoing with six-seven others, but IRP stays conservative. Flexibility eyed for capex prioritization to protect affordability. Investors watch transmission final costs and RFP outcomes. Management conservative.
Key Stats
Market Cap
8.88BP/E (TTM)
17.30Basic EPS (TTM)
2.49Dividend Yield
0.04%Recent Filings
8-K
Director McReynolds retiring
10-K
FY2025 results
OGE Energy drove FY2025 net income to $470.7M ($2.32 diluted EPS), up 6.7% y/y, as OG&E's electric segment posted $499.8M on $3.26B revenues (9.2% y/y growth) despite milder cooling degree days (down 11%). System sales hit 33.6M MWh (5.0% y/y), fueled by commercial strength, while fuel costs rose to 3.502 cents/kWh from higher nat gas prices. Q4 momentum shone through capex of $1.05B (down slightly y/y), funding grid hardening amid SPP capacity mandates; debt climbed to $9.4B yet revolver liquidity held $868M. Targets $2.38-$2.48 EPS in 2026 on 4-6% load growth. Regulatory delays risk Q4 momentum.
8-K
2025 EPS up to $2.32
OGE Energy posted 2025 earnings of $2.32 per diluted share, up from $2.19 in 2024, fueled by OG&E's strong load growth and capital recovery despite higher depreciation. Q4 dipped to $0.34 per share from $0.50 amid prior-year rate settlement timing. Guides 2026 midpoint at $2.43 per share with 5-7% annual growth targeted through 2028. Board hiked Q2 dividend to $0.425 per share.
8-K
VP Utility Operations retiring
OGE Energy disclosed that Donnie O. Jones, OG&E's VP of Utility Operations, plans to retire at year-end 2026 after notifying on December 3, 2025. The departure leaves a gap in leadership for the regulated electric utility serving 910,000 customers. No interim or successor plans disclosed. Succession looms.
8-K
OGE prices equity offering
OGE Energy priced a public offering of 8,023,256 common shares at $43/share on November 20, 2025, issuing 4,011,628 directly while forward sellers borrowed and sold the rest; underwriters exercised their full option for 1,203,488 more shares on November 21. Forward agreements with Morgan Stanley and JPMorgan settle by May 27, 2027, at initial $41.71/share, funding the $7.285B five-year capex plan through 2030. Physical settlement dilutes EPS.
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