Oge Energy Corp · NYSE:OGE
Oge Energy — Q4 2023 Earnings Presentation
13 slides from Oge Energy's earnings presentation, Feb 21, 2024
Slide 1: Q4 2023 Earnings & Business Update Conference Call
Q4 2023 Earnings & Business Update Conference Call February 21, 2024
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," "
Slide 3: #1 Best Employer in Oklahoma
Recognized for high-performing culture 72% #1 Best Employer engagement rate makes OG&E an in Oklahoma Oklahoma Top Named by Forbes 2023 Best Workplace Employers by State © 2024 OGE Energy Corp. | 3
Slide 4: Advancing our culture and planning for the future
Advancing our culture and planning for the future TBD will align with Sean’s script 2023 consolidated earnings of $2.07 per average diluted share • Electric company earnings of $2.12 per average diluted share Driving Results • Other for Customers, operations, includingCommunities, holding company,
Slide 5: Delivering results for our customers, communities & shareholders
Delivering results for our customers, communities & shareholders Grid investments delivered great results for customers Economic development efforts continued to fuel growth Constructive regulatory outcomes serve customers and shareholders Fuel charge reduction helps keep customer rates amon
Slide 6: 2023 execution achieves high end of expectations
2023 execution achieves high end of expectations 2023 2022 Drivers Milder weather compared to last year Depreciation and interest expense on a growing asset base Increased operation and maintenance expense OG&E $2.12 $2.19 Strong weather normalized load growth Recovery of capital investments
Slide 7: 2024 plan reflects consistent consolidated EPS growth
2024 plan reflects consistent consolidated EPS growth 2024 Consolidated Earnings Guidance 2023 to 2024 Original Guidance Drivers Consolidated midpoint of $2.12 EPS Range of $2.06 to $2.18 EPS ~$0.12 $2.12/share $2.12/share ~$0.05 6% ~$0.05 $2.00/share1 $2.00/share1 Recovery of capital investments ne
Slide 8: 5-year forecasted consolidated EPS guidance based on strong fundamentals
5-year forecasted consolidated EPS guidance based on strong fundamentals 5-year Consolidated Earnings Growth Guidance 5% to 7%3 Consistent Execution Consolidated 5-YEAR PLAN HIGHLIGHTS Guidance • Long-term consolidated EPS guidance of 5% to 7% $2.12/share3 6% • Updated 5-year investment plan of $6 b
Slide 9: Q&A
Q&A © 2024 OGE Energy Corp. | 9
Slide 10: Appendix
Appendix © 2024 OGE Energy Corp. | 10
Slide 11: 2023 fourth quarter EPS results
2023 fourth quarter EPS results Q4 2023 Q4 2022 Drivers Recovery of capital investments OG&E $0.24 $0.23 Lower other operation and maintenance expense Depreciation and interest expense on a growing asset base Other Higher interest expense $0.00 $0.00 Operations/HoldCo Income tax benefit Na
Slide 12: 2023 weather impact
2023 weather impact Weather Variance Heating Degree Days1 2023 2022 % Change Actuals 3,092 3,652 (15.3%) Normal 3,568 3,568 0% Variance from Normal (13.3%) 2.4% Cooling Degree Days1 2023 2022 % Change Actuals 2,215 2,385 (7.1%) Normal 1,893 1,893 0% Variance from Normal 17% 26% Estimated current yea
Slide 13: Building futures with a community centric investments plan
Building futures with a community centric investments plan Capital Expenditures 2023 10K, $ millions 2024 2025 2026 2027 2028 Total Transmission economic expansion & reliability $ 145 $ 180 $ 195 $ 225 $ 240 $ 985 Oklahoma distribution economic expansion & reliability $ 400 $ 520 $ 665 $ 705 $ 725 $