OGE Energy Corp. Q1 Profit Drops, but beats estimates

(RTTNews) - OGE Energy Corp. (OGE) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $38.3 million, or $0.19 per share. This compares with $279.5 million, or $1.39 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.4% to $557.2 million from $589.3 million last year.

OGE Energy Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $38.3 Mln. vs. $279.5 Mln. last year. -EPS (Q1): $0.19 vs. $1.39 last year. -Analyst Estimates: $0.18 -Revenue (Q1): $557.2 Mln vs. $589.3 Mln last year.

-Guidance: Full year EPS guidance: $1.99 to $2.09