OGE Energy Q2 Profit Declines, Reaffirms OG&E's Earnings Outlook

(RTTNews) - OGE Energy Corp. (OGE), Thursday reported a decline in second-quarter earnings, while revenues spiked from the prior year.

The company reported a quarterly profit of $73.1 million from $112.9 million last year. On a per share basis, earnings were $0.36, down from $0.56 a year ago. The parent company of Oklahoma Gas and Electric Co. or OG&E said the quarterly contribution from OG&E was $100.7 million or $0.50 per share, compared to $85.1 million or $0.42 per share in the previous year.

Revenue for the quarter surged to $803.7 million from $577.4 million a year ago.

OGE confirmed OG&E's earnings outlook of approximately $375 million to $395 million, or $1.87 to $1.97 per share. Due to warmer than expected weather in the first half, OG&E's earnings are expected to be in the top half of its 2022 earnings guidance range.