- 03 ноября 2017, 18:39
- Zacks Investment Research
OGE Energy Corp. OGE posted third-quarter 2017 earnings of 92 cents per share, which missed the Zacks Consensus Estimate of 93 cents by a penny. However, the reported figure was flat year over year.
OGE Energy’s operating revenues of $716.8 million in the quarter fell 3.6% from the prior-year figure of $743.9 million.
Total sales in the reported quarter amounted to 8.1 million megawatt-hours (MWh), down from 8.7 million MWh in the prior-year quarter. This decline was due to lower system as well as integrated market sales. Meanwhile, the company’s customer count increased by 8,285 or 1%.
Cost of sales in the quarter under review was $255.7 million, down 5.2%.
Total operating expenses increased 0.5% year over year to $217.8 million mainly on the back of higher other operation and maintenance expenses as well as taxes other than income. However, operating income declined 14% to $243.3 million from the year-ago figure of $257.3 million.
Interest expenses totaled $35.9 million in the quarter, up from $35.4 million a year ago.
Other Highlights of the Release
OGE Energy reported net income of $183.4 million in this quarter, down from the prior-year figure of $183.6 million.
OG&E: The segment’s net income increased 1.3% year over year to $162 million in the quarter. The upside was mainly owing to non-cash earnings used to recover financing costs during construction of the Mustang and Sooner plants.
Natural Gas Midstream Operations: The segment posted net income of $21 million compared with $23 million in the year-ago period. The decline was primarily due to increased operating and interest expenses.
OGE Energy revised its guidance for 2017. The company now expects consolidated earnings to be in the range of $1.85 to $1.91 per share compared with $1.93-$2.09, projected earlier.
Also, OG&E, the regulated utility, expects to earn $1.50-$1.52 per share, down from $1.58-$1.70, guided earlier.
Entergy Corporation ETR reported third-quarter 2017 operational earnings of $2.35 per share beating the Zacks Consensus Estimate of $2.24 by 4.9%. The reported number improved 1.7% from the year-ago figure. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DTE Energy Company DTE reported third-quarter 2017 operating earnings per share (EPS) of $1.48, which missed the Zacks Consensus Estimate of $1.53 by 3.3%. Operating earnings also declined 24.5% from the year-ago figure of $1.96. The company carries a Zacks Rank #2 (Buy).
American Electric Power Co., Inc. AEP reported third-quarter 2017 operating EPS of $1.10, missing the Zacks Consensus Estimate of $1.19 by 7.6%. The bottom line also declined 15.4% from $1.30 a year ago. The company carries a Zacks Rank #3.
OGE Energy carries a Zacks Rank #4 (Sell).
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
Entergy Corporation (ETR): Free Stock Analysis Report
DTE Energy Company (DTE): Free Stock Analysis Report
OGE Energy Corporation (OGE): Free Stock Analysis Report
To read this article on Zacks.com click here.