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 customer expansion.

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

• Customer growth was 1% year-over-year, with total demand up 8%, led by residential (3%) and commercial (28%) sectors.

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

• Grid and weather resilience investments proved effective during extreme conditions, supporting reliable and affordable service.

Financial highlights

• Q1 2025 consolidated net income: $63 million ($0.31/share) vs. $19 million ($0.09/share) in Q1 2024.

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

• Operating revenues increased 25.3% to $747.7 million in Q1 2025 from $596.8 million in Q1 2024.

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

• Higher revenues from capital investment recovery and load growth, offset by higher tax, depreciation, and interest expenses.

Outlook and guidance

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

• Full-year load growth expectations remain on track, with continued momentum in customer and load growth.

• Consolidated earnings growth rate of 5%-7% expected based on 2025 guidance midpoint, supported by a $6.25 billion capital plan.

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