Oge Energy Corp · NYSE:OGE
Oge Energy — Q2 2022 Earnings Presentation
13 slides from Oge Energy's earnings presentation, Aug 4, 2022
Slide 1: Q2 2022 Earnings & Business Update Conference Call
Q2 2022 Earnings & Business Update Conference Call August 4, 2022 © 2022 OGE Energy Corp. | 1
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 Second Quarter 2022 financial results
Summary of Second Quarter 2022 financial results $0.50 $0.42 2021 2022 OG&E (Electric Utility) ➢ Electric utility operations earnings of $0.50 per diluted share ➢ Other Operations, including holding company, loss of $0.05 per diluted share ➢ Natural Gas Midstream Operations loss of $0.09 per diluted
Slide 4: Second Quarter 2022 Highlights
Second Quarter 2022 Highlights ✓ Energy Transfer • Exited 77% of investment through July • $813 million received ✓ Oklahoma Rate Review • Uncontested settlement; order expected in Q3 ✓ Winter Storm Uri – Oklahoma • Bond proceeds of ~$750 million received in July ✓ Arkansas FRP • New rates implemente
Slide 5: Second Quarter 2022 Highlights
Second Quarter 2022 Highlights ✓High Summer Temps • Generation fleet and our grid delivering resilient and reliable service ✓Capacity Requests for Proposals • RFPs issued for solar, flexible and existing resources to address capacity requirements ✓Business Development remains strong • Brings more lo
Slide 6: 2022 Second Quarter EPS Results
2022 Second Quarter EPS Results • Operational execution and favorable weather resulted in strong year over year OG&E results 2022 2021 Drivers Favorable weather h OG&E $0.50 $0.42 Recovery of capital investments h Depreciation on growing asset base i Natural Gas Midstream MTM loss on Energy Transfer
Slide 7: Strong Customer Growth, Thriving Service Territory, and Year over Year Load Growth
Strong Customer Growth, Thriving Service Territory, and Year over Year Load Growth Customer Growth Highlights • Employment conditions remain better than national rate 1.1% • Weather normalized retail load up 2.3% in first half of 2022, and 2.9% in second quarter of 2022 • 2022 weather normalized loa
Slide 8: Pointing Toward Top Half of 2022 EPS Guidance
Pointing Toward Top Half of 2022 EPS Guidance • Expect to deliver in the top half of utility EPS guidance range of $1.87 to $1.97, given favorable weather and solid execution in the first half of the year • O&M performance year-to-date is on plan • Thriving service territory supported by a solid bal
Slide 9: 2022 Financing Plan Update
2022 Financing Plan Update • Brisk pace of Energy Transfer unit exit • 73.3 million, or 77% of units sold through July 2022 • 22.1 million units remaining • $813 million of pre-tax realized value, surpassing pre-tax value on transaction announcement and transaction close dates • Total proceeds forec
Slide 10: Q&A
Q&A Q&A © 2022 OGE Energy Corp. | 10
Slide 11: Appendix
Appendix © 2022 OGE Energy Corp. | 11
Slide 12: Second Quarter Weather Impact
Second Quarter Weather Impact Weather Variance Heating Degree Days Q2 2022 Q2 2021 % Change Actuals 210 291 (28%) Normal1 249 220 (13%) Variance from Normal1 (16%) 32% Cooling Degree Days Q2 2022 Q2 2021 % Change Actuals 736 460 60% Normal1 553 569 (3%) Variance from Normal1 33% (19%) Weather drives
Slide 13: Investing in our Communities
Investing in our Communities Strong load growth and robust • 5-year capital plan of $4.75 billion • Strong customer growth and T&D resiliency projects drive grid investment needs of infrastructure investment our communities • Over 75% of the 5-year capital plan is customer underly confidence focused