Portland General Electric Co · NYSE:POR
Portland General Electric — Q2 2019 Earnings Presentation
10 slides from Portland General Electric's earnings presentation, Aug 2, 2019
Slide 1: Portland General Electric Earnings Conference Call Second Quarter 2019
Exhibit 99.2 Portland General Electric Earnings Conference call Second quarter 2019
Slide 2: Cautionary statement
Cautionary statement Information current as of August 2, 2019 Except as expressly noted, the information in this presentation is current as of August 2, 2019 — the date on which PGE filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 — and should not be relied upon as being c
Slide 3: Leadership presenting today
Leadership presenting today Maria Pope President and CEO On today's call • Financial performance • Economic and legislative update • 2019 Integrated Resource Plan • Integrated Operations Center • Capital planning update Jim Lobdell • Financial update Senior VP of Finance, CFO & Treasurer 3
Slide 4: Second quarter 2019 earnings results
Second quarter 2019 earnings results Q2 2019 Q2 2018 Net income (in $ millions) $25 $46 Diluted earnings per share (EPS) $0.28 $0.51 $0.82 $0.72 $1.25 - $1.40* $0.59 $0.55 $0.28 $0.51 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 Diluted EPS: 2018 Diluted EPS: $2.35 - $2.50 $2.37 4 *Estimates based on 2019 guidance
Slide 5: Economic and legislative updates
Economic and legislative updates Our economy is strong • Retail energy deliveries increased 0.8% on a weather-adjusted basis, driven by industrial energy deliveries • Unemployment rate of 3.5% in our service area* • Long term expansion in high tech and data centers Our 2019 session achievements • Re
Slide 6: 2019 Integrated Resource Plan
2019 Integrated Resource Plan July 2019 Q3-Q4 2019 January 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
Slide 7: Integrated Operations Center
Integrated Operations Center A new 24/7 center for key operations: • Advances our integrated grid strategy • Significantly improves seismic resilience, cyber and physical security • Improves monitoring, control and optimization of distributed assets and our distribution system 7
Slide 8: Second quarter 2019 earnings bridge
Second quarter 2019 earnings bridge $0.51 $2.10 $(0.07) $(0.05) $0.01 $0.28 $(0.07) $(0.05) Q2 Revenues, Weather Operating Production Other Q2 2018 purchased and expense tax credits 2019 power and decoupling fuel* 8 *Revenues include retail revenues, wholesale revenues and other operating revenues
Slide 9: Capital planning
Capital planning 800 $725 700 $620 $585 600 $505 $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 • I
Slide 10: Liquidity and financing
Liquidity and financing Total Liquidity 2019 Ratings S&P Moody's (as of 6/30/19) (in $ millions) Credit Facilities $ 483 Senior Secured A A1 Letters of Credit 160 Senior Unsecured BBB+ A3 Cash 11 Commercial Paper A-2 Prime-2 Available $ 654 Outlook Positive Stable Financings Q1 2019 Q2 2019 Q3 2019
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