Portland General Electric Co · NYSE:POR
Portland General Electric — Q2 2020 Earnings Presentation
10 slides from Portland General Electric's earnings presentation, Jul 31, 2020
Slide 1: Portland General Electric Earnings Conference Call Second Quarter 2020
Exhibit 99.2 Portland General Electric Earnings Conference call Second quarter 2020
Slide 2: Cautionary statement
Cautionary statement Information Current as of July 31, 2020 Except as expressly noted, the information in this presentation is current as of July 31, 2020 — the date on which PGE filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 — 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 performance • COVID-19 update • Strategic initiatives Financial Update Jim Lobdell, Senior VP of Finance, CFO and Treasurer • Second quarter earnings drivers • Liquidity and financing • Capital investments • Outlook fo
Slide 4: Q2 2020 financial results
Q2 2020 financial results *Estimates based on 2020 guidance range of $2.20 - $2.50 per diluted share 4444| Confidential and Proprietary
Slide 5: Q2 COVID-19 update
Q2 COVID-19 update Economic impacts • Unemployment rate in PGE's service territory spiked from 3.0% in March to 13.8% in April and has begun to recover at 11.1% in June • Phased approach to reopening by county Support for customers • Providing flexible payment options, pausing service disconnections
Slide 6: Strategic initiatives are on track
Strategic initiatives are on track Capital projects • The 300 MW wind portion of the Wheatridge Renewable Energy Facility is on track for completion by December 2020 • The Integrated Operations Center is on track for completion by the end of 2021 2019 Integrated Resource Plan • Acknowledged by writt
Slide 7: Second quarter 2020 earnings bridge
Second quarter 2020 earnings bridge Values shown represent diluted earnings per share 7
Slide 8: Liquidity and financing
Liquidity and financing Letters of Credit $174m Revolving Credit Facility $500m SE Senior secured Outlook Stable 2020 Actual and Planned Finance Activity Long-term debt issuances 364-day term loan Pollution Control Revenue bonds
Slide 9: Capital investments
Capital investments* *Capital expenditures for 2020 through 2024 exclude allowance for funds used under construction. 99
Slide 10: 2020 earnings guidance
2020 earnings guidance 2020 EPS Guidance of $2.20 - $2.50 • Revised annual retail deliveries from a decrease of 1% to 2%, weather adjusted, to flat energy deliveries, weather adjusted, year over year. This upward revision reflects stronger residential and industrial demand offset by a decline in com
Portland General Electric — Q2 2020 Earnings Presentation on 6ix