Portland General Electric (NYSE: POR) reported Q1 EPS of $0.72, $0.05 better than the analyst estimate of $0.67. Revenue for the quarter came in at $493 million versus the consensus estimate of $526.71 million.

“PGE is committed to leading our region to a clean and reliable energy future,” said Maria Pope, PGE president and CEO. “In addition to solid financial results in the first quarter of 2018, we’re taking steps to add 100 average megawatts of renewable power to our system; increasing our investments in building a smarter, more resilient grid; and proposing programs to help our customers reach their decarbonization goals, while keeping prices affordable.”

2018 earnings guidance

PGE reaffirms its 2018 guidance of $2.10 - $2.25 per diluted share. The guidance is based on the following assumptions:

• A decline in retail deliveries up to 1%, weather-adjusted
• Normal hydro conditions for the remainder of the year based on the current hydro forecast
• Wind generation for the remainder of the year based on five years of historical levels or forecast studies when historical data is not available
• Normal thermal plant operations for the remainder of the year
• Depreciation and amortization expense between $365 and $385 million
• Operating and maintenance costs between $575 and $595 million

GUIDANCE:

Portland General Electric sees FY2018 EPS of $2.10-$2.25, versus the consensus of $2.18.

For earnings history and earnings-related data on Portland General Electric (POR) click here.