Earnings and Net Income - OGE Energy reported earnings of $2.07 per diluted share in 2023, compared to $3.32 per diluted share in 2022, with 2022 earnings including $1.16 per diluted share from natural gas midstream operations that were exited in 2022[1] - OG&E contributed net income of $426.4 million, or $2.12 per diluted share, in 2023, compared to $439.5 million, or $2.19 per diluted share, in 2022, with the decrease primarily due to milder weather, higher depreciation, and increased operation and maintenance expenses[3] - OGE Energy's net income was $416.8 million or $2.07 per diluted share in 2023, compared to $665.7 million, or $3.32 per diluted share, in 2022[5] - For Q4 2023, OGE Energy reported net income of $48.2 million, or $0.24 per diluted share, compared to $50.3 million, or $0.25 per diluted share, in Q4 2022[6] - Net income for 2023 was $426.4 million, down from $439.5 million in 2022, a decrease of 3%[19] Earnings Guidance and Growth Targets - OGE Energy's 2024 consolidated earnings guidance midpoint is $2.12 per average diluted share, with a range of $2.06 to $2.18 per average diluted share[7] - OG&E, the electric company, is forecasted to contribute earnings of $2.22 per average diluted share in 2024, while the holding company is expected to report a loss of $0.10 per average diluted share[7] - OGE Energy targets a consolidated earnings per share growth rate of 5% to 7% annually, supported by strong load growth and investments in lower-risk infrastructure projects[9] Operating Revenues and Expenses - Operating revenues decreased to $2,674.3 million in 2023 from $3,375.7 million in 2022, a decline of 20.8%[19] - Residential operating revenues dropped to $1,040.4 million in 2023 from $1,307.0 million in 2022, a 20.4% decrease[21] - Commercial operating revenues fell to $688.4 million in 2023 from $818.3 million in 2022, a 15.9% decline[21] - Industrial operating revenues decreased to $240.5 million in 2023 from $327.5 million in 2022, a 26.6% drop[21] - Oilfield operating revenues declined to $211.9 million in 2023 from $308.8 million in 2022, a 31.4% decrease[21] - Total MWh sales decreased to 30.5 million in 2023 from 31.1 million in 2022, a 1.9% reduction[21] - Total fuel and purchased power cost per kilowatt-hour decreased to 2.837 cents in 2023 from 5.096 cents in 2022, a 44.3% reduction[21] Other Operations and Losses - Other Operations resulted in a loss of $9.6 million, or $0.05 per diluted share, in 2023, compared to a loss of $5.1 million, or $0.03 per diluted share, in 2022, primarily due to higher interest expense[4] Customer and Weather Data - OG&E serves approximately 896,000 customers in Oklahoma and western Arkansas[13] - Number of customers increased to 896,102 in 2023 from 888,759 in 2022, a 0.8% growth[21] - Heating degree days decreased to 3,092 in 2023 from 3,652 in 2022, a 15.3% decline[21] Dividends - OGE Energy declared a Q2 2024 dividend of $0.4182 per common share, payable on April 26, 2024[12]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | For the transition period from _____to_____ | | | | --- | --- | --- | | Exact name of registrants as specified in their charters, address of principal | | | | Commission File Number | executive offices a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ | Exact name of registrants as specified in their charters, address of | | | I.R.S. Employer Identification | | --- | --- | --- | --- | | Commission Fil ...

OGHE® We Energize Life Q2 2023 Earnings & Business Update Conference Call August 9, 2023 Safe Harbor Some of the matters discussed in this news 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," "expect," "forecast," "intend," "objective," "plan," "possible," "potential," "project," "target" and similar expression ...

Financial Data and Key Metrics Changes - The company reported consolidated earnings of $0.44 per share for Q2 2023, compared to $0.36 per share in the same period of 2022, reflecting a year-over-year increase in net income [47] - The electric company achieved net income of $92 million or $0.46 per diluted share in Q2 2023, down from $101 million or $0.50 per share in Q2 2022, primarily impacted by weather conditions [22][47] - Year-to-date results through June for the electric company were $0.66 per diluted share, tracking on plan for the full year [36] Business Line Data and Key Metrics Changes - The electric utility's core operations performed well, with residential load remaining solid and commercial sector growth at 16.5% year-over-year [48] - Other operations, including the holding company, reported a loss of $4 million or $0.02 per diluted share in Q2 2023, an improvement from a loss of $9 million or $0.05 per share in the same period of 2022 [23] Market Data and Key Metrics Changes - The company expects load growth for 2023 to exceed 4%, driven by economic development and business partnerships in Oklahoma and Arkansas [20][24] - The company experienced exceptional growth in weather-normalized total load, coming in at 3.5% compared to Q2 2022, marking the third consecutive year of load growth well above 2% [37] Company Strategy and Development Direction - The company is focused on delivering reliable, affordable, and safe electricity to nearly 900,000 customers, with a long-term plan that includes diverse investment opportunities [6] - The company is pursuing new generation approvals and has filed applications for projects under the Infrastructure Investment and Jobs Act (IIJA) [30][31] - The company emphasizes affordability and has made significant progress in reducing the unrecovered fuel balance, which will benefit customers in the future [34][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet customer needs and grow, citing a strong load forecast and economic development efforts [20][35] - The company is optimistic about continued growth in 2024, particularly in the commercial sector, and expects to exceed historical load growth rates [26][70] Other Important Information - The company has experienced significant weather events but reported that 98% of customers did not experience outages due to effective operational responses [17][18] - The total fuel under recovery balance was $198 million as of June 30, 2023, a decrease of $317 million since the beginning of the year [51] Q&A Session Summary Question: What was the impact from storms in the quarter? - Management noted that despite severe weather, 98% of customers did not experience outages, showcasing the effectiveness of reliability investments [17] Question: Can you comment on the drivers of CapEx year-to-date? - Management indicated that CapEx is tracking well relative to the original plan, with a focus on regulatory mechanisms for timely recovery [41] Question: What drove the 16.5% load growth in the commercial sector? - The growth was attributed to various industries, particularly data mining companies and manufacturing, contributing to a robust commercial load [78]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ | Exact name of registrants as specified in their charters, address of | | | | I.R.S. Employer | | --- | --- | --- | --- | --- | | Commission File Number | p ...

Financial Data and Key Metrics Changes - The consolidated earnings for Q1 2023 were reported at $0.19 per share, a decrease from $1.39 per share in Q1 2022, which included $1.15 per share from natural gas midstream operations that were exited in 2022 [8][9] - The Electric Company achieved net income of $40 million or $0.20 per diluted share in Q1 2023, compared to $39 million or $0.19 per share in the same period of 2022, primarily due to increased recoveries of capital investments and strong load growth [8][9] Business Line Data and Key Metrics Changes - The Electric Company reported a net income increase attributed to strong load growth and capital investment recoveries, despite higher operational and maintenance costs [8][9] - Other operations, including the holding company, reported a loss of $1.5 million in Q1 2023 compared to a net income of $10 million in Q1 2022, mainly due to a prior year tax benefit that reversed [9] Market Data and Key Metrics Changes - Customer growth was approximately 1%, with weather-normalized load growing at a rate of 3.9% compared to Q1 2022, indicating a robust economic environment in Oklahoma and Arkansas [10] - The commercial sector experienced its third consecutive quarter of double-digit year-over-year increases in weather-normalized load [10] Company Strategy and Development Direction - The company is focused on expanding generation capacity to meet growing demand, with plans to file for approval of multiple RFPs this summer [6][10] - Investments in grid and weather hardening are aimed at improving operational performance and reliability, especially in light of severe weather events [4][6] - The company is pursuing opportunities through the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA) to enhance clean energy initiatives [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong start to the year, highlighting the positive economic development in their service areas and the potential for continued growth [3][12] - The company anticipates a long-term earnings per share growth rate of 5% to 7% at the Electric Company, supported by a solid balance sheet and strong fundamentals [12] Other Important Information - The company reported a fuel under-recovery balance of approximately $370 million at the end of March, a reduction of $145 million since year-end [11] - The Oklahoma Corporation Commission approved the 2021 fuel prudency audit, and the company is evaluating the timing of its next rate review, which could be filed in the second half of the year [7] Q&A Session Summary Question: Can you talk about some of the offsets that you're embedding in the reiterated guidance? - Management acknowledged a negative impact from mild weather but emphasized strong tailwinds from load growth and sales mix, maintaining a bullish outlook for 2023 [14][15] Question: Can you provide more details on the latest round of solar RFPs? - Management indicated ongoing negotiations and emphasized the importance of cost, timing, and risk in the RFP process, with plans to file results this summer [21][22] Question: How do you perceive the sustainability of the 4% to 5% load growth trajectory into 2024 and beyond? - Management expressed optimism about sustained growth, citing diverse economic development and a solid base of residential customers [24] Question: Can you clarify the timeline for the outstanding RFPs? - Management confirmed plans to file for approval in the summer, with a potential approval timeline of up to 240 days in Oklahoma [35] Question: How are you thinking about the level of the rate increase? - Management emphasized a focus on affordability and a goal of avoiding large rate spikes, indicating a commitment to keeping rates attractive for continued growth [36][38]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ | Exact name of registrants as specified in their charters, address of | | | I.R.S. Employer Identification | | --- | --- | --- | --- | | Commission File Nu ...

OGE Energy Corp (NYSE:OGE) Q4 2022 Earnings Conference Call February 23, 2023 9:00 AM ET Company Participants Jason Bailey - Director, IR Robert Trauschke - Chairman, President & CEO Bryan Buckler - CFO Conference Call Participants Paul Zimbardo - Bank of America Merrill Lynch Aditya Gandhi - Wolfe Research Wayne Lee - Mizuho Securities Operator Good day, and thank you for standing by. Welcome to the Q4 2022 OGE Energy Corp. Earnings Conference Call. [Operator Instructions]. Please be advised that today's c ...

Financial Performance - OG&E's total electric operating revenues for 2022 were $3,375.7 million, a decrease of 7.6% compared to $3,653.7 million in 2021[36]. - System sales in 2022 reached 30.0 million MWh, representing an 8.3% increase from 27.7 million MWh in 2021[33]. - The electric energy sold in 2022 was 31.1 million MWh, up from 29.3 million MWh in 2021[36]. - OGE Energy targets a consistent growth of earnings per share of 5% to 7% at the electric company, supported by strong load growth and low customer rates[29]. Customer Base - In 2022, OG&E served approximately 889,000 customers, with residential customers accounting for 756,751[31]. Generation and Energy Mix - OGE Energy's generation (exclusive of station use) decreased to 13.6 million MWh in 2022 from 16.3 million MWh in 2021[36]. - OG&E's generation mix in 2022 consisted of 60% natural gas, 30% coal, and 10% renewable energy sources[51]. - OG&E's total generation capability is 7,240 MWs, with 67.7% from natural gas and 21.2% from coal[55]. Fuel and Supply Management - The weighted average cost of fuel in 2022 was 5.480 cents per kilowatt-hour, a decrease from 6.833 cents in 2021[53]. - OG&E has coal supply agreements covering 100% of its expected coal requirements for 2023 through 2025 for its Sooner and River Valley facilities[58]. - In 2022, OG&E purchased 3.1 million tons of coal from sub-bituminous suppliers and 0.011 million tons from bituminous suppliers[58]. - The company expanded its natural gas storage capacity in 2022 by entering into two storage service contracts to protect against price volatility[56]. Dividend and Payout Strategy - The company aims for a dividend payout ratio of 65% to 70% over the next five years[29]. Safety and Employee Engagement - OGE Energy was named the 2 Best Employer in Oklahoma for 2022, highlighting its commitment to employee safety and well-being[66]. - OGE Energy has reduced its 5-year averages for OSHA recordable injuries by 73% and its Days Away, Restricted, Transfer Rate (DART) by 78% since the 2011 baseline[75]. - The company aims for zero safety incidents annually and has implemented extensive training on safety culture[72]. - OGE Energy's employee engagement surveys are used to gather feedback and enhance employee engagement based on survey results[71]. Diversity and Workforce Development - The company is focused on diversity, with an upward trend in hiring members from gender, racial, and ethnically diverse communities over the past three years[77]. - OGE Energy has established partnerships with educational institutions to create talent pipelines for recruitment[68]. - The company engages in ongoing succession planning discussions to address workforce turnover due to retirements expected in the next five to ten years[70]. Risk Management and Financial Oversight - OGE Energy's Risk Oversight Committee, which includes the Chief Financial Officer, is responsible for managing significant risk management activities and reports periodically to the Audit Committee[277]. - The Registrants manage interest rate exposure primarily related to variable-rate debt and commercial paper, with no current intent to utilize interest rate derivatives[279]. - The fair value of the Registrants' long-term debt is based on market prices and current rates for similar issues, with a focus on managing interest rate exposure[280]. Debt Management - OGE Energy has a fixed-rate debt principal amount of $500.0 million with a weighted-average interest rate of 0.703%[281]. - The variable-rate debt principal amount is $50.0 million with a weighted-average interest rate of 5.375%[281]. - OG&E's fixed-rate debt principal amount is projected to reach $3,894.3 million by 2027, with a weighted-average interest rate decreasing to 3.980%[281]. - The variable-rate debt principal amount for OG&E is expected to be $135.4 million with a weighted-average interest rate of 3.840%[281]. - A hypothetical change of 100 basis points in the underlying variable interest rate incurred by OG&E would change interest expense by $1.4 million annually[282].