OGE Energy Corp. (OGE) reported second-quarter 2024 earnings of 51 cents per share, which lagged the Zacks Consensus Estimate of 69 cents by 26.1%. The figure increased 15.9% from earnings of 44 cents per share in the year-ago quarter. Revenues OGE's operating revenues of $662.6 million rose 9.5% from $605 million recorded in the prior-year quarter. However, the top line missed the Zacks Consensus Estimate of $837.5 million by 20.9%. Operational Highlights Total sales were 8 million megawatt-hours (MWh), up ...

OGE Energy (OGE) came out with quarterly earnings of $0.51 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -26.09%. A quarter ago, it was expected that this energy services company would post earnings of $0.35 per share when it actually produced earnings of $0.09, delivering a surprise of -74.29%. Over the last four quarters ...

Core Viewpoint - OGE Energy Corp. reported a strong operational performance in Q2 2024, with increased earnings driven by higher electricity demand and warmer weather, reaffirming its commitment to providing affordable and reliable energy to customers [1][2]. Financial Performance - OGE Energy's net income for Q2 2024 was $102.3 million, or $0.51 per diluted share, compared to $88.4 million, or $0.44 per diluted share in Q2 2023, reflecting a year-over-year increase of approximately 15% in earnings per share [1][2][5]. - OG&E contributed net income of $109.3 million, or $0.54 per diluted share, in Q2 2024, up from $91.9 million, or $0.46 per diluted share in the same period of 2023 [2][5]. - Other operations reported a loss of $7.0 million, or $0.03 per diluted share, compared to a loss of $3.5 million, or $0.02 per diluted share in Q2 2023, primarily due to higher interest expenses [2][5]. Revenue and Expenses - Total operating revenues for Q2 2024 were $662.6 million, an increase from $605.0 million in Q2 2023, driven by higher revenues from contracts with customers [3][5]. - Fuel, purchased power, and direct transmission expenses were $193.9 million in Q2 2024, compared to $181.8 million in Q2 2023, reflecting increased operational costs [3][5]. - Operating expenses totaled $292.8 million in Q2 2024, up from $276.8 million in Q2 2023, with depreciation and amortization expenses increasing to $135.5 million from $124.1 million [3][5]. Outlook - OGE Energy reaffirmed its 2024 consolidated earnings guidance, projecting earnings within a range of $2.06 to $2.18 per average diluted share, with expectations to be in the top half of this range due to strong load growth and favorable weather conditions [2][5]. - The guidance assumes approximately 201.5 million average diluted shares outstanding and normal weather for the remainder of the year [2][5]. Customer Base and Market Position - OGE Energy Corp. serves approximately 902,000 customers in Oklahoma and western Arkansas, indicating a stable customer base contributing to its revenue growth [1][2].

This call is being webcast by Notified and can be accessed at OGE Energy's website at www.oge.com. SOURCE OGE Energy Corp. OKLAHOMA CITY , July 9, 2024 /PRNewswire/ -- OGE Energy Corp. (NYSE: OGE) will hold its quarterly earnings and business update conference call at 9 a.m. Eastern Time (8 a.m. Central Time), Wednesday, August 7, 2024. OGE Energy Corp. is the parent company of OG&E, a regulated electric company with approximately 900,000 customers, in Oklahoma and western Arkansas. ...

OGE Energy Corp. (NYSE:OGE) is an electric utility that primarily serves the state of Oklahoma. The company also has a small service territory in western Arkansas, along the Oklahoma border: OGE Energy However, we can also see that OGE Energy's stock price has significantly underperformed the S&P 500 Index (SP500) since that date. This is perhaps not surprising, as utility companies tend to experience slower growth than other firms and so rarely generate comparable capable gains. They make up for this throu ...

"Our dedicated team's operational execution and commitment to our customers delivered solid results in 2023," Trauschke said. "Thanks to our continued customer focus and strong operations as we leverage our low rates and drive healthy community growth, we believe the future for OGE Energy is bright. I look forward to what the rest of 2024 brings." Trauschke discussed the company's continued grid hardening efforts delivering improved reliability for customers at the lowest overall rates in Oklahoma and Arkan ...

OGE Energy Corp. (OGE) shares rose 1.5% to reach $35.57 on May 6 following the release of its first-quarter 2024 results.The company reported first-quarter 2024 earnings of 9 cents per share, which lagged the Zacks Consensus Estimate of 35 cents by 74.3%. The figure also declined 52.6% from 19 cents per share recorded in the year-ago quarter.RevenuesOGE’s operating revenues of $596.8 million rose 7.1% from $557.2 million recorded in the prior-year quarter. However, the top line missed the Zacks Consensus Es ...

OGE Energy (OGE) came out with quarterly earnings of $0.09 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -74.29%. A quarter ago, it was expected that this energy services company would post earnings of $0.22 per share when it actually produced earnings of $0.24, delivering a surprise of 9.09%.Over the last four quarters, th ...

Exhibit 99.01 OGE Energy Corp. reports first quarter 2024 results OKLAHOMA CITY — OGE Energy Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric Company ("OG&E"), today reported earnings of $0.09 per diluted share during the three months that ended March 31, 2024, compared to $0.19 per diluted share in the same period 2023. "A solid start to the year has us on pace to achieve our 2024 targets" said Sean Trauschke, Chairman, President and CEO of OGE Energy Corp. "Our relentless focus on afford ...

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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ Commission File Number Exact name of registrants as specified in their charters, address of principal executive offices and registrants' telephone number I. ...