PGE posts higher Q2 earnings, net income climbs to $68M

• Portland General Electric reported second-quarter 2026 GAAP net income of $68 million, up from $62 million a year earlier.
• Revenue increased to $814 million, supported by 11.2% industrial load growth.
• The company reaffirmed 2026 earnings guidance and advanced new large-load pricing changes.

Portland General Electric (NYSE:POR) reported second-quarter 2026 GAAP net income of $68 million, or $0.59 per diluted share, compared with $62 million, or $0.56 per share, in the prior-year quarter.

Total revenue increased to $814 million from $807 million, supported by higher industrial electricity demand, while non-GAAP net income was $74 million, or $0.64 per share.

The company’s industrial load increased 11.2% year over year, while residential and commercial demand remained relatively stable, with operations and maintenance expenses declining and depreciation and interest costs increasing due to capital investment.

Portland General Electric also reaffirmed its 2026 adjusted earnings guidance of $3.33 to $3.53 per diluted share.

Meanwhile, PGE’s New Large Load Tariff took effect on July 8, 2026, increasing prices for data center and other new large-load customers by about 30% while lowering rates for other customers.

The company expects 2026 capital expenditures of $1.655 billion and operating cash flow of $1.0 billion to $1.2 billion, while its board approved a quarterly dividend of $0.55125 per share.