OGE Energy (NYSE: OGE) reported Q1 EPS of $0.38, $0.18 better than the analyst estimate of $0.20. Revenue for the quarter came in at $431.3 million versus the consensus estimate of $511.6 million.

• The guidance at OG&E is unchanged between $1.72 and $1.78 per diluted share. Holding Company guidance is also unchanged and projected to post breakeven results in 2020. As a result of the revised guidance by Enable and the equity method investment impairment recorded by the Company, OGE Holdings projects earnings contributions to be between ($2.59) to ($2.55) per average diluted share. Ongoing earnings per average diluted share are projected to be between $0.36 and $0.40 and we expect to receive approximately $93 million in cash distributions. Additionally, OGE Energy consolidated earnings guidance for 2020 has changed from approximately $440 million to $463 million of net income, or $2.19 to $2.31 per average diluted share to a net loss of approximately ($173) million to ($154) million, or ($0.87) to ($0.77) per share. Ongoing earnings are projected to be between approximately $417 million $436 million of net income, or $2.08 to $2.18 per share. The guidance assumes approximately 201 million average diluted shares outstanding and normal weather for the year.

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