Strong second quarter results driven by favorable regional power conditions and lower operating expense
Capital plan for 2020, including major capital projects, remains on track
Maintaining earnings guidance of $2.20 to $2.50 per diluted share
Portland, Ore., – Portland General Electric Company (NYSE: POR) today reported net income of $39 million, or 43 cents per diluted share, for the second quarter of 2020. This compares with net income of $25 million, or 28 cents per diluted share, for the second quarter of 2019.
"We achieved solid second quarter financial results, driven by a combination of favorable hydro and wind conditions and lower operating expenses," said Maria Pope, PGE president and CEO. "As an essential service provider, we will continue working to keep costs low to support economic recovery and the communities we serve in this unprecedented time."