Portland General Electric Co · NYSE:POR
Portland General Electric — Q1 2019 Earnings Presentation
9 slides from Portland General Electric's earnings presentation, Apr 26, 2019
Slide 1: Portland General Electric Earnings Conference Call First Quarter 2019
Exhibit 99.2 Portland General Electric Earnings Conference call First quarter 2019
Slide 2: Cautionary statement
Cautionary statement Information Current as of April 26, 2019 Except as expressly noted, the information in this presentation is current as of April 26, 2019 — the date on which PGE filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 — and should not be relied upon as being
Slide 3: Leadership presenting today
Leadership presenting today Maria Pope President and CEO On today's call • Financial performance • Economic update • Transportation electrification • Capital planning update • Financial update Jim Lobdell Senior VP of Finance, CFO & Treasurer 3
Slide 4: First quarter 2019 earnings results
First quarter 2019 earnings results Q1 2019 Q1 2018 Net Income (in $ millions) $73 $64 Diluted earnings per share (EPS) $0.82 $0.72 $0.82 $0.72 $1.53 - $1.68 $0.59 $0.55 $0.51 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 Diluted EPS: 2018 Diluted EPS: $2.35 - $2.50 $2.37 4
Slide 5: Economic update
Economic update • Customer base increased 1.2% • Industrial energy deliveries increased 4.2% • Portland recently ranked as one of the top 10 places to live in the U.S.(1) • Unemployment of 3.9% in our service territory(2) • Ongoing new construction and industrial expansion(3) (1) U.S. News and World
Slide 6: Transportation electrification
Transportation electrification • Launched the Electric Avenue Charging Network and opened our newest charging station • Partnered with our regional transit authority, TriMet, on a 100% wind-powered, all-electric bus route • Proposed plans for a grant fund to help electrify school buses, increase Ele
Slide 7: First quarter 2019 earnings bridge
First quarter 2019 earnings bridge $0.03 $0.03 $0.82 $0.07 $(0.02) $(0.01) $0.72 $2.10 Revenues(1) Weather Carty Production Other Q1 Q1 and purchased Tax Credits 2019 2018 power and fuel 7 (1) Revenues include retail revenues, wholesale revenues and other operating revenues
Slide 8: Capital planning
Capital planning Current capital outlook Investments include(1): • Increase for additional 800 investments in plant 700 upgrades 600 $600 $140 $15 • Updating, replacing 500 $500 $500 $500 $500 aging generation, 400 transmission and 300 distribution equipment 200 • Strengthening the 100 power grid fo
Slide 9: Liquidity and financing
Liquidity and financing Total Liquidity 2019 Ratings S&P Moody's (in $ millions) Credit Facilities $ 500 Senior Secured A A1 Commercial Paper — Senior Unsecured BBB+ A3 Letters of Credit 137 Commercial Paper A-2 Prime-2 Cash 89 Outlook Positive Stable Available $ 726 Financings Q1 2019 Q2 2019 Q3 20
Portland General Electric — Q1 2019 Earnings Presentation on 6ix