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Stock impact report

Portland General Electric announces second quarter 2019 results

Portland General Electric Co (POR) 
Last portland general electric co earnings: 4/24 05:00 am Check Earnings Report
US:NYSE Investor Relations: investors.portlandgeneral.com
Company Research Source: PR Newswire
PORTLAND, Ore., Aug. 2, 2019 /PRNewswire/ -- Portland General Electric Company (NYSE: POR) today reported net income of $25 million, or 28 cents per diluted share, for the second quarter of 2019. This compares with net income of $46 million, or 51 cents per diluted share, for the second quarter of 2018."This quarter, we navigated challenging regional power markets with significantly lower hydro production and are maintaining full year guidance," said Maria Pope, PGE president and CEO, "We are also pleased to have filed our Integrated Resource Plan and to announce the construction of an Integrated Operations Center, which will enhance grid safety, resilience and security."Q2 2019 earnings compared to Q2 2018 earningsNet variable power costs were less favorable than the prior year, primarily due to lower wholesale revenues and significantly lower than average hydro production. Higher operating expenses and lower production tax credits were partially offset by an increase in revenue as a Show less Read more
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