Portland General Electric Co · NYSE:POR
Portland General Electric — Q3 2024 Earnings Presentation
11 slides from Portland General Electric's earnings presentation, Oct 25, 2024
Slide 1: Earnings Conference Call, Third Quarter 2024
Exhibit 99.2 Portland General Electric EARNINGS CONFERENCE CALL THIRD QUARTER 2024
Slide 2: Cautionary statement
Cautionary statement Information Current as of October 25, 2024 Except as expressly noted, the information in this presentation is current as of October 25, 2024 – the date on which PGE filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 - and should not be relied upon a
Slide 3: Topics for today's call
Topics for today’s call Business Update Maria Pope, President and CEO • Financial and operational results • Third quarter highlights Financial Update Joe Trpik, Senior VP of Finance and CFO • Load growth and economy • Q3 2024 earnings drivers • Capital investments and resource planning update • Liqu
Slide 4: Third quarter 2024 financial results
Third quarter 2024 financial results Q3 2024 Q3 2023 2024 YTD 2023 YTD Updating • 2024 adjusted earnings GAAP net income (in millions) $94 $47 $275 $160 guidance from $2.98 to GAAP diluted earnings per share (EPS) $0.90 $0.46 $2.67 $1.65 $3.18 to $3.08 to $3.18 Exclusion of January 2024 storm costs
Slide 5: Q3 highlights and 2024 outlook
Q3 highlights and 2024 outlook Advancing toward a clean energy future Customer programs Filed a final shortlist for the 2023 All-Source For the 15th year, PGE’s voluntary renewable energy #1 RFP, which included projects ranked in two program, Green Future, was ranked number one by groups, prioritize
Slide 6: Q3 2024 earnings bridge
Q3 2024 earnings bridge Q3 2023 Retail revenue Net variable O&M Other 2024 January Q3 2024 GAAP EPS power costs Storm Earnings GAAP EPS Test Release Note: Dollar values are earnings per diluted share 6
Slide 7: Reliability and resiliency investments
Reliability and resiliency investments Capital expenditures forecast(1) $1,355 $1,285 $1,250 $130 $1,150 $1,155 $195 $435 $235 $255 $265 $155 $90 $120 $125 $120 $120 $670 $615 $610 $600 $625 $160 $160 $165 $170 $175 2024 2025 2026 2027 2028 Generation Distribution General, Technology, Strategic BESS
Slide 8: Liquidity and financing
Liquidity and financing Ratings S&P Moody’s Total Liquidity: $1,023 million Senior Secured A A1 as of September 30, 2024 (dollars in millions) Senior Unsecured BBB+ A3 Cash Commercial Paper A-2 P-2 $35 Outlook Stable Negative Actual and expected 2024 debt financings Q1 Q2 Q3 Q4 (dollars in millions)
Slide 9: Appendix
Appendix
Slide 10: Non-GAAP financial measures
Non-GAAP financial measures This presentation contains certain non-GAAP measures, such as adjusted earnings, adjusted EPS and adjusted earnings guidance. These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities, are infrequent in n
Slide 11: Non-GAAP financial measures
Non-GAAP financial measures Non-GAAP Earnings Reconciliation for the three months ended March 31, 2024 Non-GAAP Earnings Reconciliation for the nine months ended September 30, 2024 (Dollars in millions, except EPS) Net Income Diluted EPS (Dollars in millions, except EPS) Net Income Diluted EPS GAAP
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