Oge Energy Corp · NYSE:OGE
Oge Energy — Q3 2022 Earnings Presentation
10 slides from Oge Energy's earnings presentation, Nov 3, 2022
Slide 1: Q3 2022 Earnings & Business Update Conference Call
Q3 2022 Earnings & Business Update Conference Call November 3, 2022
Slide 2: Safe Harbor
Safe Harbor Some of the matters discussed in this presentation may contain forward-looking statements that are subject to certain risks, uncertainties, and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "e
Slide 3: Summary of Third Quarter 2022 Financial Results
Summary of Third Quarter 2022 Financial Results ➢ Electric utility operations earnings of $1.26 per diluted share ➢ Other Operations, including holding company, loss of $0.03 per diluted share ➢ Natural Gas Midstream Operations earnings of $0.08 per diluted share ✓ Consolidated earnings of $1.31 per
Slide 4: Third Quarter Highlights
Third Quarter Highlights ✓Completed exit of Energy Transfer • Transformation to electric utility is complete ✓Grid reliability, resiliency, and security work continues • Undergrounding highway lines, upgrading and building new substations to support growth, and eliminating and reducing outages ✓Re-i
Slide 5: 2022 Third Quarter EPS Results
2022 Third Quarter EPS Results Q3 2022 Q3 2021 Drivers Increased volumes h OG&E $1.26 $1.12 Recovery of capital investments h Depreciation i Natural Gas Midstream MTM gain on Energy Transfer units h $0.081 $0.15 Operations Removal of equity earnings in Enable i Other Operations/Holdco $(0.03)2 $(0.0
Slide 6: Thriving Service Area
Thriving Service Area Commercial Sector Year-over-Year Customer Growth Weather Normalized Load1 11.6% 1.2% 6.6% 7.0% Q3 2021 Q3 2022 Q1 2022 vs Q1 2021 Q2 2022 vs Q2 2021 Q3 2022 vs Q3 2021 YTD Weather Normalized Load 2022 vs 20211 Highlights 8.7% • Customers continue to grow at > 1% pace 4.7% • Tot
Slide 7: Financing and Balance Sheet Update
Financing and Balance Sheet Update ▪ Transformation to pure-play electric utility is complete ▪ Completed exit of midstream investment in the third quarter ▪ Realized average pre-tax sales price of $11.19 per unit compared to $8.32 per unit (+34%) on the transaction close date and $6.96 per unit (+6
Slide 8: Q&A
° Ce 8 OG: We Energize Life 2022 OGE Energy Corp |
Slide 9: Appendix
Appendix © 2022 OGE Energy Corp | 9
Slide 10: Third Quarter Weather Impact
10 Third Quarter Weather Impact Weather Variance Cooling Degree Days Q3 2022 Q3 2021 % Change Actuals 1,566 1,337 17% Normal1 1,268 1,268 0% Variance from Normal 24% 5% Weather drives strong Residential, Commercial and total Retail load results (unadjusted for weather) YTD Actual Total Load 2022 vs