We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
OGE Energy (OGE) Q1 Earnings Beat Estimates, Revenues Up Y/Y
Read MoreHide Full Article
OGE Energy Corp. (OGE - Free Report) reported first-quarter 2017 earnings of 18 cents per share, which surpassed the Zacks Consensus Estimate of 17 cents by 5.9%. Reported earnings also improved 38.5% year over year.
Revenues
OGE Energy’s operating revenues of $456 million in first-quarter 2017 rose 5.3% from the prior-year figure of $433.1 million.
Operational Highlights
Total sales in the reported quarter amounted to 6.2 million megawatt-hours (MWh), down from 6.5 million MWh in the prior-year quarter. This decline was due to lower system as well as integrated market sales. The company’s customer count increased by 8,414 or 1%.
Cost of sales in the reported quarter was $208.7 million, up 17.3%.
Total operating expenses in the quarter under review decreased 6.4% year over year to $203.5 million mainly due to lower depreciation and amortization expenses as well as taxes other than income expenses. As a result, operating income increased 15.6% to $43.8 million from the year-ago figure of $37.9 million.
Interest expenses totaled $35 million in the reported quarter, down from $36.3 million a year ago.
Other Highlights of the Release
OGE Energy reported net income of $36 million in this quarter, up 42.9% from the prior-year figure of $25.2 million.
OG&E: OG&E's net income increased 166.7% year over year to $16 million in the quarter. The upside was mainly due to lower depreciation expenses related to the reduction in depreciation rates as directed in the Oklahoma Corporation Commission's final order.
Natural Gas Midstream Operations: The segment posted net income of $20 million in the first quarter compared with $18 million a year ago. Increased gross margin and cost controlling measures in the gathering and processing business segment primarily contributed to the improvement in net income.
OGE Energy Corporation Price, Consensus and EPS Surprise
OGE Energy has revised its guidance for 2017. The company expects 2017 consolidated earnings per share to be in the lower end of $1.93–$2.09.
OG&E, the regulated utility, is reaffirmed to earn in the lower end of $1.58–$1.70 per share.
Peer Releases
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating earnings per share of $1.79, which beat the Zacks Consensus Estimate of $1.57 by 14%. Total revenue came in at $3.24 billion, which surpassed the Zacks Consensus Estimate of $2.58 billion by 25.6%. The company has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Entergy Corporation (ETR - Free Report) a Zacks Rank #3 company reported first-quarter 2017 operational earnings of 99 cents per share, missing the Zacks Consensus Estimate of $1.06 by 6.6%. However, total revenue of $2,588.5 million topped the Zacks Consensus Estimate of $2,566 million by 0.9%.
NextEra Energy, Inc. (NEE - Free Report) is also a Zacks Rank #3 company. It reported first-quarter 2017 adjusted EPS of $1.75, beating the Zacks Consensus Estimate of $1.56 by 12.2%. Operating revenues totaled $3,972 million, beating the Zacks Consensus Estimate of $3,943 million by nearly 0.7%.
Zacks Rank
OGE Energy currently has a Zacks Rank #4 (Sell).
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
OGE Energy (OGE) Q1 Earnings Beat Estimates, Revenues Up Y/Y
OGE Energy Corp. (OGE - Free Report) reported first-quarter 2017 earnings of 18 cents per share, which surpassed the Zacks Consensus Estimate of 17 cents by 5.9%. Reported earnings also improved 38.5% year over year.
Revenues
OGE Energy’s operating revenues of $456 million in first-quarter 2017 rose 5.3% from the prior-year figure of $433.1 million.
Operational Highlights
Total sales in the reported quarter amounted to 6.2 million megawatt-hours (MWh), down from 6.5 million MWh in the prior-year quarter. This decline was due to lower system as well as integrated market sales. The company’s customer count increased by 8,414 or 1%.
Cost of sales in the reported quarter was $208.7 million, up 17.3%.
Total operating expenses in the quarter under review decreased 6.4% year over year to $203.5 million mainly due to lower depreciation and amortization expenses as well as taxes other than income expenses. As a result, operating income increased 15.6% to $43.8 million from the year-ago figure of $37.9 million.
Interest expenses totaled $35 million in the reported quarter, down from $36.3 million a year ago.
Other Highlights of the Release
OGE Energy reported net income of $36 million in this quarter, up 42.9% from the prior-year figure of $25.2 million.
OG&E: OG&E's net income increased 166.7% year over year to $16 million in the quarter. The upside was mainly due to lower depreciation expenses related to the reduction in depreciation rates as directed in the Oklahoma Corporation Commission's final order.
Natural Gas Midstream Operations: The segment posted net income of $20 million in the first quarter compared with $18 million a year ago. Increased gross margin and cost controlling measures in the gathering and processing business segment primarily contributed to the improvement in net income.
OGE Energy Corporation Price, Consensus and EPS Surprise
OGE Energy Corporation Price, Consensus and EPS Surprise | OGE Energy Corporation Quote
Guidance
OGE Energy has revised its guidance for 2017. The company expects 2017 consolidated earnings per share to be in the lower end of $1.93–$2.09.
OG&E, the regulated utility, is reaffirmed to earn in the lower end of $1.58–$1.70 per share.
Peer Releases
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating earnings per share of $1.79, which beat the Zacks Consensus Estimate of $1.57 by 14%. Total revenue came in at $3.24 billion, which surpassed the Zacks Consensus Estimate of $2.58 billion by 25.6%. The company has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Entergy Corporation (ETR - Free Report) a Zacks Rank #3 company reported first-quarter 2017 operational earnings of 99 cents per share, missing the Zacks Consensus Estimate of $1.06 by 6.6%. However, total revenue of $2,588.5 million topped the Zacks Consensus Estimate of $2,566 million by 0.9%.
NextEra Energy, Inc. (NEE - Free Report) is also a Zacks Rank #3 company. It reported first-quarter 2017 adjusted EPS of $1.75, beating the Zacks Consensus Estimate of $1.56 by 12.2%. Operating revenues totaled $3,972 million, beating the Zacks Consensus Estimate of $3,943 million by nearly 0.7%.
Zacks Rank
OGE Energy currently has a Zacks Rank #4 (Sell).
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>