Oge Energy Corp · NYSE:OGE
Oge Energy — Q1 2023 Earnings Presentation
11 slides from Oge Energy's earnings presentation, May 4, 2023
Slide 1: Q1 2023 Earnings & Business Update Conference Call
Q1 2023 Earnings & Business Update Conference Call May 4, 2023
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 first quarter 2023 financial results
Summary of first quarter 2023 financial results ➢ Electric company earnings of $0.20 per average diluted share ➢ Other operations, including holding company, loss of $0.01 per average diluted share ✓ Consolidated earnings of $0.19 per average diluted share OGE Energy remains on plan to deliver on 20
Slide 4: Results and plans that deliver on commitments
Results and plans that deliver on commitments ➢ Growing communities lead to increased demand ➢ Broad business expansion from manufacturing, defense, health care, and tribal enterprises ➢ Mobile app launch leads to high customer adoption, continued digital experience focus ➢ Weather hardening & grid
Slide 5: 2023 first quarter EPS results
2023 first quarter EPS results 2023 2022 Drivers Recovery of capital investments h Load growth h OG&E $0.20 $0.19 O&M i Depreciation on a growing asset base i Other Operations/HoldCo $(0.01) $0.05 Increase in income tax expense1 i Natural Gas Midstream Operations N/A $1.15 OGE Energy exited natural
Slide 6: First Quarter 2023 customer growth and load results
First Quarter 2023 customer growth and load results Customer Growth Load Growth ~4-5% Q1 Highlights ~1.0% • Customer growth and load growth demonstrate vibrancy of local economies 1.1% 3.1% 1.4% 2.4% • Oilfield and Public Authority sectors continue to exhibit strength • Commercial sector strength of
Slide 7: 2023 financing plan update
2023 financing plan update ▪ Strong balance sheet and no equity issuance needs in current 5-year capital plan ▪ Forecasted FFO to debt of 17.5% to 18% during forecast period1 ▪ OG&E issued $350 million, 5.6% notes in April, completing our forecasted capital markets activity for 2023 ▪ Relative HoldC
Slide 8: 2023 guidance affirmed
2023 guidance affirmed • Healthy business fundamentals and solid start to the year support confidence in achieving full-year earnings per share guidance: OG&E – $2.04 with a range of $1.99 to $2.09 HoldCo – ($0.04) with a range of ($0.06) to ($0.02) Consolidated – $2.00 with a range of $1.93 to $2.0
Slide 9: Q&A
We Energize Life 2023 OGE Energy Corp | 9
Slide 10: Appendix
Appendix © 2023 OGE Energy Corp | 10
Slide 11: First quarter weather impact
First quarter weather impact Weather Variance Heating Degree Days1 Q1 2023 Q1 2022 % Change Actuals 1,692 2,010 (16%) Normal 1,887 1,887 0% Variance from Normal (10%) 7% Cooling Degree Days1 2023 2022 % Change Actuals 6 3 100% Normal 10 10 0% Variance from Normal (40%) (70%) 1. Degree days are calcu