Portland General Electric
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Portland General Electric beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share expanded significantly.
Margins grew across the board.
Portland General Electric recorded revenue of $450.0 million. The four analysts polled by S&P Capital IQ wanted to see net sales of $429.1 million on the same basis. GAAP reported sales were 2.5% higher than the prior-year quarter's $439.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.50. The seven earnings estimates compiled by S&P Capital IQ predicted $0.47 per share. GAAP EPS of $0.50 for Q3 were 39% higher than the prior-year quarter's $0.36 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 48.7%, 150 basis points better than the prior-year quarter. Operating margin was 18.2%, 270 basis points better than the prior-year quarter. Net margin was 8.4%, 220 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $511.5 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $1.81 billion. The average EPS estimate is $1.90.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 81 members out of 90 rating the stock outperform, and nine members rating it underperform. Among 25 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 23 give Portland General Electric a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Portland General Electric is hold, with an average price target of $28.17.
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