OGE Energy (OGE) Q1 2025 earnings summary

Executive summary

• Q1 2025 net income was $63 million ($0.31 per diluted share), up from $19 million ($0.09 per share) in Q1 2024, driven by higher operating revenues, strong load growth, and increased customer demand.

• The electric company segment posted $71 million net income ($0.35 per share), compared to $25 million ($0.12 per share) last year; holding company loss was $8 million ($0.04 per share).

• Customer growth was 1% year-over-year, with weather-normalized load growth at 8%, led by 3% residential and 28% commercial growth.

• Economic development contributed to an $8 billion annual impact, with $4.1 billion in capital investments from 2021-2024.

• Grid and weather resilience investments supported reliable and affordable service during extreme conditions.

Financial highlights

• Q1 2025 consolidated net income: $63 million ($0.31/share) vs. $19 million ($0.09/share) in Q1 2024; operating revenues rose 25.3% to $747.7 million.

• Electric company net income: $71 million ($0.35/share) vs. $25 million ($0.12/share) in Q1 2024.

• Holding company loss: $8 million ($0.04/share) vs. $7 million ($0.03/share) in Q1 2024.

• Operating income rose to $133.3 million from $74.0 million year-over-year.

• Cash flow from operations was $15.9 million, down from $83.0 million, mainly due to increased fuel and purchased power payments.

Outlook and guidance

• 2025 EPS guidance affirmed at $2.27/share, within a $2.21–$2.33 range; OG&E projected to earn $2.43 per share.

• On track for 5%-7% consolidated annual EPS growth through 2029, supported by a $6.25 billion capital plan.

• Full-year load growth expectations remain unchanged, with retail load growth forecasted at 7.5%-9.5%.

• Guidance assumes normal weather and 202.1 million average diluted shares outstanding.