OGE Energy (US:OGE)2025-10-28 21:37Financial Performance - Operating revenues for Q3 2025 were $1,045.0 million, a 8.3% increase from $965.4 million in Q3 2024[15] - Net income for the nine months ended September 30, 2025, was $401.5 million, up 18.2% from $339.6 million in the same period of 2024[20] - Basic earnings per share for Q3 2025 were $1.15, compared to $1.09 in Q3 2024, reflecting a 5.5% increase[15] - Operating income for the nine months ended September 30, 2025, was $661.2 million, a 17.4% increase from $563.1 million in 2024[15] - The company reported a comprehensive income of $401.8 million for the nine months ended September 30, 2025, compared to $343.7 million in 2024, reflecting a 16.9% increase[17] - Net income for the period was $231.3 million, compared to $218.7 million in the previous period, reflecting an increase of 5.9%[27] - Net income for the three months ended September 30, 2025, was $242.9 million, compared to $225.0 million in the same period of 2024, representing a year-over-year increase of 7.6%[39] - OGE Energy reported a net income of $231.3 million for the three months ended September 30, 2025, compared to $218.7 million for the same period in 2024, representing an increase of 7.4%[81] Revenue and Expenses - Fuel, purchased power, and direct transmission expenses increased to $388.5 million in Q3 2025, up 10.3% from $350.1 million in Q3 2024[15] - Operating revenues for the three months ended September 30, 2025, were $1,045.0 million, an increase of 8.3% compared to $965.4 million in the same period of 2024[28] - OGE Energy's total compensation expense for the nine months ended September 30, 2025, was $10.1 million, up from $8.6 million in the same period of 2024, indicating increased employee compensation costs[75] - The company reported a total of $2,489.2 million in revenues from contracts with customers for the nine months ended September 30, 2025, compared to $2,171.9 million for the same period in 2024, marking a 14.6% increase[67] Cash Flow and Capital Expenditures - Cash flows from operating activities for the nine months ended September 30, 2025, were $752.3 million, compared to $683.2 million in 2024, representing a 10.1% increase[20] - Capital expenditures for the nine months ended September 30, 2025, were $752.7 million, a decrease from $794.3 million in 2024[20] - Capital expenditures for the three months ended September 30, 2025, were $229.5 million, compared to $244.1 million in the same period of 2024, indicating a decrease of 6.0%[100] Assets and Liabilities - Total assets increased to $14,257.4 million as of September 30, 2025, up from $13,716.0 million on December 31, 2024, representing a growth of 3.9%[22] - Current assets rose to $987.7 million, compared to $895.1 million in the previous period, marking an increase of 10.3%[22] - Total liabilities increased to $9,460.3 million from $9,075.1 million, indicating a rise of 4.2%[25] - Long-term debt rose to $5,368.2 million, compared to $5,020.9 million, an increase of 6.9%[25] - Total stockholders' equity increased to $4,797.1 million from $4,640.9 million, a growth of 3.4%[25] Regulatory and Legal Matters - In May 2025, Oklahoma's SB 998 was passed, allowing OG&E to recover costs for new natural gas generation capacity, enhancing regulatory support for infrastructure investments[61] - Arkansas's Act 373, signed in March 2025, enables OG&E to recover costs for strategic investments in electric generating and transmission facilities, subject to regulatory approval[62] - OG&E filed a general rate review in December 2023, resulting in an annual revenue requirement increase of $126.7 million, with interim rates implemented on July 1, 2024[111] - The Oklahoma Supreme Court ruled in favor of OG&E in three out of five cases related to the Oklahoma Retail Electric Supplier Certified Territory Act[124] Shareholder Information - The company declared dividends of $0.42125 per share, totaling approximately $86.8 million for the period[27] - The company declared dividends of $250.0 million on common stock during the third quarter of 2025, maintaining a consistent dividend policy[39] - OGE Energy issued 234,476 shares of new common stock during the nine months ended September 30, 2025, to satisfy payouts of earned performance units and restricted stock unit grants[76] - OGE Energy issued 64,796 new shares under its Automatic Dividend Reinvestment and Stock Purchase Plan, raising $2.9 million during the three months ended September 30, 2025[79] Pension and Employee Benefits - OGE Energy's pension plan net periodic benefit cost for the three months ended September 30, 2025, was $2.8 million, slightly up from $2.7 million in the same period of 2024[93] - OGE Energy made contributions to its Pension Plan totaling $13.5 million related to OG&E employees during the nine months ended September 30, 2025[98] - The total net periodic benefit cost for OGE Energy's Pension Plan for the three months ended September 30, 2025, was $2.7 million, consistent with the same period in 2024[94] Future Outlook and Projects - The 2025 Integrated Resource Plan (IRP) identified capacity needs of 1,647 MWs by 2030 for summer and 1,017 MWs for winter[108] - OG&E is pursuing regulatory approvals for nearly 1,000 MWs of generation capacity as part of its 2024 request for proposal process[108] - The Muskogee to Fort Smith Transmission Project is estimated to cost approximately $250 million, with construction expected to begin in stages starting in 2027[110]