OGE Energy (OGE)

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OGE Energy (OGE) - 2021 Q2 - Earnings Call Presentation
2021-08-05 19:29
Financial Performance - OGE's consolidated earnings per share (EPS) increased to $0.56 in Q2 2021 from $0.43 in Q2 2020[9, 24] - OG&E's EPS increased to $0.42 in Q2 2021 from $0.39 in Q2 2020, driven by recovery of additional investments and mild weather[5, 24] - Natural Gas Midstream Operations contributed $0.16 EPS in Q2 2021, up from $0.10 in Q2 2020, due to higher commodity prices and gathering/processing volumes[6, 24] - HoldCo and Other Operations had a loss of $0.02 EPS in Q2 2021, an improvement from a loss of $0.06 in Q2 2020, due to lower income tax expense[8, 24] - Natural Gas Midstream Operations contributed earnings of $32 million to OGE Energy Corp in Q2 2021, compared to $19 million in Q2 2020[63] Load and Customer Growth - The company forecasts a 2% load growth in 2021 compared to 2020 levels[21, 26] - Customer growth is at 1.3% year-over-year[21, 27] - OG&E expects to add approximately 75 MW of additional load by the end of 2021[21] Capital Investments and Planning - The company has a 5-year capital plan of $4.2 billion[51] - Approximately $100 million was added to the 2021 capital plan[51] - The company plans to retire approximately 850 MW of generation capacity over the next 5 to 6 years[15] Securitization and Financing - OG&E received approximately $100 million in SPP settlements in June, reducing the impact of fuel costs from the February winter storm[42] - As of June 30, 2021, OG&E has recorded approximately $850 million as a regulatory asset related to winter storm Uri[42]
OGE Energy (OGE) - 2021 Q2 - Quarterly Report
2021-08-04 22:07
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, 2021 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 | | | | --- | --- | --- | | Commission File Number | principal executive offices and r ...
OGE Energy (OGE) - 2021 Q1 - Earnings Call Transcript
2021-05-09 05:56
OGE Energy Corp (NYSE:OGE) Q1 2021 Earnings Conference Call May 6, 2021 9:00 AM ET Company Participants Jason Bailey - Director of IR Sean Trauschke - Chairman, President & CEO Bryan Buckler - CFO Conference Call Participants Constantine Lednev - Guggenheim Securities Insoo Kim - Goldman Sachs Brandon Lee - Mizuho Operator Good day and thank you for standing by. Welcome to First Quarter 2021 OGE Energy Earnings conference call. At this time all participants are in a listen-only mode. Later we'll conduct a q ...
OGE Energy (OGE) - 2021 Q1 - Earnings Call Presentation
2021-05-07 23:54
We Energize Life Q1 2021 Earnings and Business Update Conference Call May 6, 2021 Safe Harbor Some of the matters discussed in this news release 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", "intend", "objective", "plan", "possible", "potential", "project", "target" and similar expressions. Actual results may var ...
OGE Energy (OGE) - 2021 Q1 - Quarterly Report
2021-05-05 21:48
Financial Performance - Operating revenues for Q1 2021 were $1,630.6 million, a significant increase from $431.3 million in Q1 2020, representing a growth of approximately 277%[21] - Net income for Q1 2021 was $52.7 million, compared to a net loss of $491.8 million in Q1 2020, indicating a turnaround in financial performance[21] - The company reported operating income of $48.6 million for Q1 2021, down from $56.3 million in Q1 2020, reflecting a decrease of about 30%[21] - Equity in earnings of unconsolidated affiliates improved to $53.2 million in Q1 2021 from a loss of $746.5 million in Q1 2020, showing a substantial recovery[21] - The company reported a basic earnings per share of $0.26 for Q1 2021, a recovery from a loss per share of $2.46 in Q1 2020[21] - Net income for the three months ended March 31, 2021, was $11.2 million, a decrease from $19.9 million in the same period of 2020, representing a decline of approximately 43.1%[36] - OGE Energy reported a net income of $52.7 million for the three months ended March 31, 2021, compared to a net loss of $491.8 million for the same period in 2020[114] Assets and Liabilities - Total assets increased to $11,788.7 million as of March 31, 2021, up from $10,718.8 million at the end of 2020, marking a growth of approximately 10%[28] - Total liabilities increased to $8,183.2 million as of March 31, 2021, compared to $7,087.0 million at December 31, 2020, reflecting a growth of approximately 15.5%[31] - Total stockholders' equity decreased to $3,605.5 million as of March 31, 2021, from $3,631.8 million at December 31, 2020, a reduction of about 0.7%[33] - The total assets of OGE Energy increased to $11,788.7 million as of March 31, 2021, compared to $10,370.9 million as of March 31, 2020[136] Cash Flow and Expenditures - Cash and cash equivalents decreased to $0 million at the end of Q1 2021 from $145.9 million at the end of Q4 2020, indicating a cash outflow[26] - The company experienced a net cash used in operating activities of $940.2 million in Q1 2021, contrasting with a net cash provided of $103.9 million in Q1 2020, indicating a significant cash outflow[26] - Cash flows from operating activities showed a net cash used of $939.9 million for the three months ended March 31, 2021, compared to a net cash provided of $89.0 million in the same period of 2020[39] - The company incurred capital expenditures of $158.4 million in Q1 2021, compared to $127.2 million in Q1 2020, representing an increase of approximately 24.5%[26] Regulatory Assets and Liabilities - Regulatory assets surged to $1,269.7 million as of March 31, 2021, compared to $415.6 million at the end of 2020, reflecting a significant increase in deferred costs[28] - Current regulatory liabilities decreased to $22.5 million as of March 31, 2021, from $35.1 million at December 31, 2020, showing a reduction of approximately 35.0%[66] - The total non-current regulatory assets rose to $1,269.7 million as of March 31, 2021, compared to $415.6 million at December 31, 2020, marking an increase of about 206.5%[66] - OG&E has deferred $829.4 million to a regulatory asset for costs associated with the February 2021 weather event[161] Debt and Financing - OGE Energy had $1.3 billion in short-term debt as of March 31, 2021, a significant increase from $95.0 million at December 31, 2020[119] - The company entered into a $1.0 billion unsecured 364-day term loan in March 2021 to cover increased fuel and purchased power costs due to extreme cold weather[120] - OGE Energy made a capital contribution of $530.0 million to OG&E during the three months ended March 31, 2021, to assist with fuel and purchased power costs[120] Pension and Employee Compensation - OGE Energy recorded a total net periodic benefit cost of $27.3 million for the three months ended March 31, 2021, compared to $2.7 million for the same period in 2020, reflecting a significant increase due to pension settlement charges[129] - The pension settlement charges amounted to $26.4 million in Q1 2021, which did not require a cash outlay and did not increase total pension expense over time[129] - OGE Energy made a $40.0 million contribution to its Pension Plan in January 2021, with $30.0 million attributed to OG&E[134] - The total compensation expense for OGE Energy was $2.5 million for the three months ended March 31, 2021, compared to $2.0 million in the same period of 2020[108] Operational Highlights - Operating revenues for the electric utility segment reached $1,630.6 million in Q1 2021, a substantial increase from $431.3 million in Q1 2020[136] - The cost of sales for the electric utility segment was $1,346.8 million in Q1 2021, compared to $135.0 million in Q1 2020, indicating a significant rise in operational costs[136] - OG&E's total revenues from contracts with customers reached $1,621.0 million, a significant increase from $420.4 million in the same period of 2020, reflecting a growth of approximately 285%[81] Market and Regulatory Developments - The Oklahoma Grid Enhancement Plan allows for interim recovery of costs capped at $7.0 million annually, effective February 1, 2021[144] - OG&E filed an application on April 26, 2021, seeking OCC approval to securitize costs related to the February 2021 cold weather event[162] - The APSC confirmed the lifting of the moratorium on disconnections on May 3, 2021, with specific conditions for utilities to follow[154] - In April 2021, Oklahoma enacted legislation allowing for the securitization of costs from the February 2021 extreme cold weather event[162]
OGE Energy (OGE) - 2020 Q4 - Earnings Call Transcript
2021-02-25 19:28
OGE Energy Corp (NYSE:OGE) Q4 2020 Earnings Conference Call February 25, 2021 9:00 AM ET Company Participants Jason Bailey - Director of Investor Relations Sean Trauschke - Chairman, President & Chief Executive Officer Bryan Buckler - Chief Financial Officer Conference Call Participants Richard Ciciarelli - Bank of America Insoo Kim - Goldman Sachs Brandon Lee - Mizuho Operator Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2020 Earnings and Business Update Conference Cal ...
OGE Energy (OGE) - 2020 Q4 - Earnings Call Presentation
2021-02-25 19:16
We Energize Life Q4 2020 Earnings and Business Update Conference Call February 25, 2021 Safe Harbor Some of the matters discussed in this news release 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", "intend", "objective", "plan", "possible", "potential", "project", "target" and similar expressions. Actual results m ...
OGE Energy (OGE) - 2020 Q4 - Annual Report
2021-02-24 23:50
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, 2020 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 executive | | | --- | --- | --- | | Commission File Number | offices and regis ...
OGE Energy (OGE) Investor Presentation - Slideshow
2020-11-11 18:44
GHE® OG We Energize L Investor Update November 2020 Safe Harbor Some of the matters discussed in this news release 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", "intend", "objective", "plan", "possible", "potential", "project" and similar expressions. Actual results may vary materially. Factors that could cause a ...
OGE Energy (OGE) - 2020 Q3 - Earnings Call Transcript
2020-11-08 08:46
OGE Energy Corp (NYSE:OGE) Q3 2020 Earnings Conference Call November 5, 2020 9:00 AM ET Company Participants Jason Bailey - IR Robert Trauschke - Chairman, President & CEO Stephen Merrill - CFO Conference Call Participants Richard Ciciarelli - Bank of America Merrill Lynch Constantine Lednev - Guggenheim Securities Andrew Levi - HITE Hedge Charles Fishman - Morningstar Inc. David Peters - Wolfe Research Wayne Lee - Mizuho Securities Operator Good morning, ladies and gentlemen, and welcome to the Quarter 3 2 ...