Portland General Electric Co · NYSE:POR
Portland General Electric — Q2 2026 Earnings Presentation
13 slides from Portland General Electric's earnings presentation, Jul 31, 2026
Slide 1: Earnings Conference Call Second Quarter 2026
Portland General Electric EARNINGS CONFERENCE CALL SECOND QUARTER 2026 Exhibit 99.2
Slide 2: Cautionary statement
Cautionary statement Information Current as of July 31, 2026 Except as expressly noted, the information in this presentation is current as of July 31, 2026 – the date on which Portland General Electric Company (PGE) filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 - and sh
Slide 3: Management participants
Management participants Maria Pope President and CEO Joe Trpik SVP of Finance and CFO
Slide 4: 2026 full-year adjusted EPS guidance of $3.33 to $3.53 remains intact
2026 full-year adjusted EPS guidance of $3.33 to $3.53 remains intact See appendix for important information about non-GAAP measures, guidance, and reconciliations The amount and timing of dividends payable and the dividend policy are at the sole discretion of the Portland General Electric Board of
Slide 5: Advancing strategic priorities
Advancing strategic priorities Customer Growth Supporting the region’s economic development, including high-tech and data center growth Customer Affordability Working to keep customer prices as low as possible while serving safe, reliable power Clean Energy Investing in customer-driven clean energy
Slide 6: Q2 adjusted EPS consistent with plan, reflecting operational and financial discipline
Q2 adjusted EPS consistent with plan, reflecting operational and financial discipline Q2 2026 GAAP EPS Q2 2025 GAAP EPS O&M Q2 2026 Non-GAAP EPS Business Optimization & Acquisition Costs D&A and financing Business Optimization Net Variable Power Costs Industrial Load Expected timing headwind; antici
Slide 7: Strong capex outlook supports sustained rate base growth
Note: Capital expenditures exclude allowance for funds used during construction. These are projections based on assumptions of future investment. Actual amounts expended will depend on various factors, including, but not limited to, siting, permitting, tariffs and supply chain constraints, and may d
Slide 8: Stable, investment grade credit ratings and strong cash flow metrics
Ratings S&P Moody’s Senior Unsecured / Outlook BBB+ / Stable A3 / Stable 2026 Credit Metric Estimate(1) 19.1% FFO 20.1% CFO pre-WC Stable, investment grade credit ratings and strong cash flow metrics Metrics are estimated as of 6/30/2026 Equity Financing 2026 2027 Base $300M $50M 2023 RFP $250M
Slide 9: Appendix
Appendix
Slide 10: Washington acquisition update
Washington acquisition update Regulatory Status Overview 10 Electric Service Area Operating Transmission Lines Power Plants Chehalis Natural Gas Plant 477 MW Seattle Goodnoe Hills Wind Farm 94 MW Marengo I/II Wind Farm 234 MW Lewiston Walla Walla Kennewick Yakima Initial Filings Complete: OR & WA (P
Slide 11: Advancing recovery and financing flexibility
Rate effective date November 2025 Rate effective date April 2026 Advancing recovery and financing flexibility Regulatory proceedings 11 2024 Storm Recovery Seaside ARM Corporate structure update Notified OPUC of intent to file for application May 2025 Filed application request with the OPUC
Slide 12: Non-GAAP 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 nature, or both. PGE believes
Slide 13: Non-GAAP Earnings Reconciliation
Non-GAAP Earnings Reconciliation for the three months ended March 31, 2026 (Dollars in millions, except EPS) Net Income Diluted EPS GAAP as reported for the three months ended March 31, 2026 $45 $0.38 Exclusion of regulatory deferral adjustment charge related to 2024 15 0.13 Exclusion of business tr
Portland General Electric — Q2 2026 Earnings Presentation on 6ix