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Portland General Electric Company (NYSE:POR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Portland General Electric Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.38 in the quarter as EPS of $0.38 in the year-earlier quarter.
Revenue: Decreased 3.34% to $463 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Portland General Electric Company reported adjusted EPS income of $0.38 per share. By that measure, the company missed the mean analyst estimate of $0.41. It missed the average revenue estimate of $489.19 million.
Quoting Management: “I’m pleased with PGE’s operating performance in 2012,” said Jim Piro, president and chief executive officer. “Our delivery system and generating facilities operated extremely well. We are making investments in our distribution infrastructure to increase the reliability and resilience of our system and have made significant progress on our strategic initiatives, including the selection of Port Westward Unit 2 as our capacity resource.”
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