OGE Energy Earns $1.52 A Share In Hot Third Quarter, Expects To Top Its 2026 Guidance Range
The Oklahoma utility's quarterly profit rose to $316.2 million from $231.3 million, and it now sees 2026 earnings of $2.62 to $2.68 per share.
OGE Energy, the holding company for Oklahoma Gas and Electric, earned $316.2 million, or $1.52 per diluted share, in the third quarter, up from $231.3 million, or $1.14, a year earlier. Warmer-than-normal weather also led the company to say it expects to exceed its original 2026 earnings guidance range, according to an 8-K filed Tuesday.
Heat lifts sales and profit
Operating revenues rose to $1,182.8 million from $1,045.0 million in the third quarter of 2025. Residential revenue climbed to $523.2 million from $408.0 million, and residential electricity sales reached 3.9 million megawatt-hours against 3.1 million.
Cooling degree days, a measure of the heat that drives air-conditioning demand, totaled 1,897 in the quarter. That compares with 1,288 a year earlier and a normal of 1,265.
OG&E, the regulated electric utility, contributed $1.54 per diluted share, up from $1.20, with net income of $320.9 million. The company said stronger sales from significantly warmer weather drove the increase, partly offset by higher income tax expense. Other operations, which include the holding company, lost $0.02 per share versus a $0.06 loss, on higher income from energy-related investments and lower interest expense.
A higher 2026 range
OGE now expects consolidated 2026 earnings of $2.62 to $2.68 per average diluted share. The guidance assumes normal weather for the rest of the year. Diluted earnings for the first nine months were $2.32, against $1.99 a year earlier.
CEO Sean Trauschke, who is also chairman and president, said he was proud of the team for "delivering reliable service through record-setting weather conditions" while investing in the grid.
A weather-driven utility
OGE Energy's main holding is OG&E, which generates, transmits and sells electricity in Oklahoma and western Arkansas. The company says OG&E's earnings swing significantly with weather from year to year. The utility reported 918,559 customers at the end of the quarter.
OGE will host an earnings and business update call on Wednesday at 8 a.m. CDT.
Nine-month net income stands at $482.7 million, against $401.5 million in the same period of 2025.
Sources
- 8-K Filing — OGE ENERGY CORP. (OGE) — SEC EDGAR
- Exhibit oge-ex99_01.htm — OGE ENERGY CORP. 8-K exhibit — SEC EDGAR
- FirstEnergy to Report Q3 Earnings: What to Expect From the Stock? — Yahoo Finance
