Portland General Electric Company First Quarter 2026 Results

Portland General Electric Company (PGE) reported first quarter 2026 results, with net income of $45 million, or $0.38 per diluted share on a GAAP basis. Non-GAAP net income was $68 million, or $0.58 per diluted share. The results were impacted by mild winter weather and lower residential and commercial usage, although industrial customer demand grew by 10%. The company is reaffirming its 2026 adjusted earnings guidance of $3.33 to $3.53 per diluted share. PGE also provided updates on its proposed acquisition of PacifiCorp's Washington utility operations, with regulatory filings submitted and an expected closing in 2027. The company declared a quarterly dividend of 55.125 cents per share. Financial statements show total revenues of $879 million for Q1 2026, down from $932 million in Q1 2025, with net income decreasing significantly year-over-year. Energy deliveries were slightly down overall, with a decrease in residential and commercial deliveries offset by an increase in industrial demand. The company is focused on advancing strategic priorities including clean energy, customer affordability, and risk management.