Portland General Electric Company (NYSE:POR) saw its shares rise 3.82% in premarket trading Friday after reporting third-quarter adjusted earnings that came in above Wall Street forecasts, even as revenue narrowly missed estimates.
The Oregon-based utility posted adjusted earnings of $1.00 per diluted share for the third quarter of 2025, topping the analyst consensus of $0.98. Revenue totaled $952 million, slightly below the $975.7 million estimate but up from $929 million in the same period a year earlier.
The company said performance was supported by strong demand from data center customers, which drove a 13% quarter-over-quarter increase in industrial load.
“Our team delivered another strong quarter in Q3 as we remain laser-focused on execution and driving value for customers, communities and shareholders,” said Maria Pope, President and CEO. “We are working to procure energy to meet dramatically higher customer demand under our rigorous least-cost, least-risk approach.”
Portland General Electric reaffirmed its full-year 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share, in line with the consensus estimate of $3.23.
The company is also advancing its resource procurement strategy, having requested acknowledgment from Oregon regulators for an updated shortlist of bidders in its 2023 All-Source Request for Proposal. PGE expects to finalize contracts by early 2026, with selected projects slated to enter service by the end of 2027.
Operating expenses were largely unchanged from a year ago, though depreciation and amortization costs increased due to ongoing capital investments. For 2025, PGE anticipates energy delivery growth between 3.5% and 4.5%, adjusted for weather impacts.