Portland General Electric Co · NYSE:POR
Portland General Electric — Q3 2019 Earnings Presentation
9 slides from Portland General Electric's earnings presentation, Nov 1, 2019
Slide 1: Portland General Electric Earnings Conference Call Third Quarter 2019
Exhibit 99.2 Portland General Electric Earnings Conference call Third quarter 2019
Slide 2: Cautionary statement
Cautionary statement Information current as of November 1, 2019 Except as expressly noted, the information in this presentation is current as of November 1, 2019 — the date on which PGE filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 — and should not be relied upon a
Slide 3: Leadership presenting today
Leadership presenting today Maria Pope President and CEO On today's call • Financial performance • Economic update • Integrated Resource Plan • Capital planning update • Financial update Jim Lobdell Senior VP of Finance, CFO & Treasurer 3
Slide 4: Third quarter 2019 financial results
Third quarter 2019 financial results Q3 2019 Q3 2018 Net income (in $ millions) $55 $53 Diluted earnings per share (EPS) $0.61 $0.59 $0.64 $0.82 - $0.79(1) $0.72 $0.61 $0.59(2) $0.55 $0.51 $0.28 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 Diluted EPS: 2018 Diluted EPS: $2.35 - $2.50 $2.37 (1) Estimates based on 20
Slide 5: Economic update
Economic update Continued growth expected • Unemployment rate of 3.5% in our service area is below the national average of 4%(1) • Oregon median household income growth ranked the second fastest in nation(2) • High tech manufacturing and data centers are driving growth (1) PGE-3 County Average, Sept
Slide 6: 2019 Integrated Resource Plan
2019 Integrated Resource Plan July 2019 Q3-Q4 2019 Q1 2020 IRP filed Comments filed by Staff/ Staff memorandum and Stakeholders/PGE final order expected The plan reflects our focus on meeting customer needs and addressing stakeholder feedback Action Plan • Customer resource actions - increased energ
Slide 7: Third quarter 2019 earnings bridge
Third quarter 2019 earnings bridge $0.26 $2.10 $(0.10) $0.59 $0.61 $(0.07) $(0.06) $(0.01) Q3 2018 Revenues, Carty Distribution Customer and Other Q3 2019 purchased Administrative power and fuel(1) Expenses Note: Values shown represent diluted earnings per share 7 (1) Revenues include retail revenue
Slide 8: Capital planning
Capital planning 800 $865 700 $620 $595 600 500 $500 $500 400 300 200 100 0 2019 2020 2021 2022 2023 Ongoing capital expenditures Wheatridge Renewable Energy Facility Integrated Operations Center Investments include: • Updating, replacing aging generation, transmission and distribution equipment • B
Slide 9: Liquidity and financing
Liquidity and financing Total Liquidity 2019 Ratings S&P Moody's (as of 9/30/19) (in $ millions) Credit Facilities $ 500 Senior Secured A A1 Letters of Credit 160 Senior Unsecured BBB+ A3 Cash 11 Commercial Paper A-2 Prime-2 Available $ 671 Outlook Positive Stable Financings Q1 2019 Q2 2019 Q3 2019
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