Portland General Electric Co

portlandgeneral.com

What Do They Do?

Generates and delivers electricity to residential, business, and industrial customers in Oregon.

How Do They Make Money?

PGE sells electricity to retail customers at regulated prices and bills them based on monthly meter readings. It also sells wholesale electricity to utilities and power marketers when power is delivered.

FY2025 revenue

Who Are Their Customers?

Households, businesses, and industrial customers in Oregon buy electricity from PGE; some commercial and industrial customers instead buy energy from an electricity supplier and receive delivery from PGE.

Do Revenues Turn Into Profits?

Yes. It kept 9 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$71M.

Operating income, FY2025

16% of revenue

▲ +8% vs FY2024 ($512M, 15%)

Net income, FY2025

9% of revenue

▼ −2% vs FY2024 ($313M, 9%)

Free cash flow, FY2025

−2% of revenue

▼ −86% (Loss) vs FY2024 (−$490M, −14%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +1%; vs $807M in Q2 FY2025
Net income: ▲ +10%; vs $62M in Q2 FY2025

Jul 31, 2026 Reaffirmed 2026 adjusted earnings guidance The full-year range remains $3.33 to $3.53 per diluted share.
May 1, 2026 Filed for approval of a proposed Washington utility acquisition PGE and PacifiCorp sought Washington approval, and PGE also applied in Oregon.

Growing. Revenue grew 49% in 4 years, from $2.4B in FY2021 to $3.6B in FY2025, about 11% a year.

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