OGE · OGE Energy Corp.

OGE Energy Corp. announced first quarter 2026 results showing consolidated net income of $50.2 million or $0.24 per diluted share, a decline from $62.7 million or $0.31 per diluted share in the prior year quarter. The decrease was primarily driven by milder weather, with actual heating degree days at 1,383 compared to 1,889 normal, reducing demand, alongside higher other operation and maintenance expenses of $136.5 million versus $121.8 million. These headwinds were partially offset by lower depreciation and interest expenses on assets placed in service. OG&E, the core regulated electric utility serving approximately 915,000 customers in Oklahoma and western Arkansas, reported net income of $57.9 million or $0.28 per share, down from $71.0 million or $0.35 per share, reflecting the same weather and cost pressures. Other operations posted a stable loss of $7.7 million or $0.04 per share, improved slightly from $8.3 million due to lower interest expense. Operating revenues rose modestly to $752.6 million from $747.7 million, supported by system sales despite lower residential volumes from mild weather. Fuel and purchased power expenses increased to $336.7 million from $324.0 million, with weighted-average cost of energy rising to 4.012 cents per kWh from 3.795 cents. Management, led by Chairman, President and CEO Sean Trauschke, emphasized disciplined execution on community growth, low rates, and infrastructure investments. The company reaffirmed its 2026 consolidated earnings guidance at $2.43 per diluted share (range $2.38-$2.48), assuming normal weather, highlighting confidence in the full-year outlook despite quarterly seasonality. A conference call was scheduled for April 29, 2026.