Portland General Electric Q1 profit falls to $45 million; 2026 guidance reaffirmed
Portland General Electric reported first-quarter 2026 GAAP net income of $45 million, or $0.38 per diluted share, down from $100 million, or $0.91, a year earlier, and total revenues of $879 million versus $928 million. The company attributed the decline to an unusually mild winter and lower seasonal usage, and reaffirmed its 2026 adjusted earnings guidance of $3.33 to $3.53 per diluted share.
Key points
- GAAP net income was $45 million ($0.38 per diluted share) for Q1 2026, versus $100 million ($0.91) in Q1 2025.
- Non-GAAP net income was $68 million ($0.58 per diluted share) after excluding regulatory deferral and business transformation items.
- Total revenues were $879 million, compared with $928 million a year earlier.
- 2026 adjusted EPS guidance of $3.33 to $3.53 was reaffirmed; PGE expects the Washington acquisition from PacifiCorp to close in 2027.
The filing
Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2026.
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