Portland General Electric Company (POR) reported third‑quarter 2025 results that included a GAAP net income of $103 million, or $0.94 per diluted share, and a non‑GAAP net income of $110 million, or $1.00 per diluted share, representing a 10 % increase over the same period in 2024.
Revenue for the quarter rose to $952 million, up from $929 million in Q3 2024, driven by continued demand from technology‑infrastructure customers and improved cost recovery mechanisms. Operating and maintenance expenses remained flat, while depreciation, amortization and interest expenses increased due to ongoing capital investment in transmission and distribution assets.
The company reaffirmed its full‑year 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share, the same range set in the first‑quarter release. Portland General Electric also confirmed a quarterly dividend of $0.525 per share, payable on or before 15 January 2026 to shareholders of record on 22 December 2025, following a dividend declaration on 22 October 2025.
Regulatory updates included an order from the Oregon Public Utilities Commission issued on 21 October 2025 to recover an additional $42 million in revenue requirements for the Seaside Battery Energy Storage System, a key component of the company’s clean‑energy strategy. The order supports the financial viability of the battery project and aligns with the company’s broader clean‑energy transition goals.
Management highlighted strong growth in industrial load, led by data‑center and high‑tech customers, and emphasized the company’s focus on leveraging federal clean‑energy tax credits and expanding renewable generation capacity. Portland General Electric reported total liquidity of $1,038 million as of 30 September 2025 and reiterated its capital‑expenditure plan to expand transmission, optimize distribution, and maintain a reliable generation fleet.
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