Portland General Electric Co · NYSE:POR
Portland General Electric — Q1 2025 Earnings Presentation
10 slides from Portland General Electric's earnings presentation, Apr 25, 2025
Slide 1: Earnings Conference Call First Quarter 2025
Exhibit 99.2 Portland General Electric EARNINGS CONFERENCE CALL FIRST QUARTER 2025
Slide 2: Cautionary statement
Cautionary statement Information Current as of April 25, 2025 Except as expressly noted, the information in this presentation is current as of April 25, 2025 – the date on which PGE filed its Annual Report on Form 10-Q for the quarter ended March 31, 2025 - and should not be relied upon as being cur
Slide 3: Topics for today's call
Topics for today’s call Business Update Maria Pope, President and CEO • Financial and operational results • First quarter highlights Financial Update Joe Trpik, Senior Vice President of Finance and CFO • Load trends • Q1 2025 earnings drivers • Capital investments and resource planning update • Liqu
Slide 4: First quarter 2025 financial results
First quarter 2025 financial results Reaffirming Q1 2025 Q1 2024 • 2025 adjusted earnings guidance of $3.13 to GAAP net income (in millions) $100 $109 $3.33 per diluted share GAAP diluted earnings per share (EPS) $0.91 $1.08 Non-GAAP adjusted diluted earnings per share(2) N/A $1.21 • 2025 load growt
Slide 5: Q1 2025 earnings bridge
Q1 2025 earnings bridge $0.07 $0.13 $1.21 $(0.08) $1.08 $(0.18) $0.91 $(0.11) Q1 2024 2024 January Q1 2024 Retail revenue Net variable O&M, D&A, Dilution & Q1 2025 GAAP EPS Storm Costs Non-GAAP power costs Interest Other GAAP EPS EPS Note: Dollar values are earnings per diluted share 5
Slide 6: Reliability and resiliency investments
Reliability and resiliency investments Capital expenditures forecast(1) $1,435 $1,340 $1,265 $1,280 $240 $1,150 $515 $420 $390 $255 $165 $120 $120 $120 $130 $120 $610 $600 $625 $615 $580 $160 $165 $170 $175 $175 2025 2026 2027 2028 2029 Generation Distribution General, Technology, Strategic BESS Pro
Slide 7: Liquidity and financing
Liquidity and financing Total Liquidity: $948 million Ratings S&P Moody’s as of March 31, 2025 Senior Secured A A1 Cash Senior Unsecured BBB+ A3 $11 Commercial Paper A-2 P-2 Outlook Stable Negative Expected 2025 debt financings(1) Q1 Q2 Q3 Q4 Letters of (dollars in millions) Credit $187 Long-term de
Slide 8: Appendix
Appendix
Slide 9: 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 10: Non-GAAP financial measures
Non-GAAP financial measures Non-GAAP Earnings Reconciliation for the three months ended March 31, 2024 (Dollars in millions, except EPS) Net Income Diluted EPS GAAP as reported for the three months ended March 31, 2024 $109 $1.08 Exclusion of January 2024 storm costs 19 0.18 Tax effect (1) (5) (0.05
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