OGE Energy reported higher third-quarter earnings, with its regulated utility, Oklahoma Gas and Electric, accounting for more than all of the parent company’s profit. Warmer-than-normal weather lifted utility sales, while income from energy-related investments and lower interest costs helped narrow losses elsewhere.
The company also raised its 2026 earnings outlook, saying it now expects to exceed its original guidance. The updated forecast assumes normal weather for the rest of the year.
Key details
- OGE Energy earned $1.52 per diluted share in the quarter ended Sept. 30, up from $1.14 a year earlier. Net income rose to $316.2 million from $231.3 million.
- OG&E contributed $320.9 million of net income, or $1.54 per diluted share, compared with $242.9 million, or $1.20 per share, in the prior-year quarter. Stronger sales in significantly warmer weather drove the increase, partly offset by higher income-tax expense.
- Other operations, including the holding company, lost $4.7 million, or 2 cents per share, compared with a loss of $11.6 million, or 6 cents per share, a year earlier. The improvement reflected higher income from energy-related investments and lower interest expense.
- The new 2026 earnings forecast is $2.62 to $2.68 per average diluted share. OGE Energy said warmer-than-normal weather is expected to push earnings above its original guidance range. The forecast assumes normal weather for the remainder of the year.
- OGE Energy’s utility serves about 919,000 customers in Oklahoma and western Arkansas. The company says its earnings are significantly affected by weather from year to year.
The quarter’s earnings growth came principally from OG&E, while the holding-company and other-operations loss narrowed. The raised annual outlook is tied in part to weather-related results, and the company’s forecast assumes weather returns to normal for the balance of the year.