The first quarter profit of Portland General Electric Company (POR) has shown a substantial increase compared to that of the previous year, surpassing Wall Street predictions.
The company’s net profit amounted to $110 million, marking $1.08 per share, in contrast to $74 million or $0.80 per share during the same period last year.
When taking item exclusions into account, the company reported adjusted earnings of $123 million or $1.21 per share for the duration.
On average, analysts had predicted that the company would earn $1.09 per share. These estimates are typically made excluding special items, based on data collected by Thomson Reuters.
For the quarter, the company's revenue rose by 24.2%, elevating to $929 million from $748 million in the previous year.
A quick look at Portland General Electric Company’s earnings (using GAAP):
- Earnings for Q1: A rise to $110 million from $74 million last year.
- EPS for Q1: An increase to $1.08 from $0.80 last year.
- Revenue for Q1: A rise to $929 million from $748 million last year.
Guidance for the full year predicts an EPS between $2.98 and $3.18.
