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SEC filingFirst-quarter revenue rose slightly, but higher costs and milder weather drove a decline in operating income and net income.
Operating income decreased 15.2% to $113.1 million from $133.3 million, as operating expenses rose sharply. The decline in operating income was driven by increases in operations and maintenance expenses, including costs related to energy efficiency programs and professional services. Net income fell 19.9% to $50.2 million, with diluted earnings per share of $0.24 compared to $0.31 in the prior year.
Management continues to focus on customer-focused capital investments to maintain and improve the safety, resiliency, and reliability of OG&E's distribution and transmission grid. The company faces potential future capital expenditures related to air pollution control equipment and compliance with EPA regulations. Moody's Investors Service revised its outlook to stable, reflecting an expectation that OGE Energy and OG&E will maintain adequate financial metrics consistent with current rating levels. Additional capital expenditures beyond those identified in the 2025 Form 10-K will be evaluated based on operational requirements and expected customer benefits.