OGE Energy (OGE) Q3 FY2023 earnings: revenue $945 million, down 25.6% on the year

OGE Energy Corp. (OGE) reported revenue of $945 million for Q3 FY2023, the quarter ended 30 September 2023, down 25.6% on the same quarter a year earlier. Net income was $242 million, down 8.0% on the year, and diluted earnings per share $1.20. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$945 milliondown 25.6%

Net income$242 milliondown 8.0%

Diluted EPS$1.20

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	945	n/a	n/a	n/a
Cost of revenue	334	n/a	n/a	n/a
Gross profit	612	n/a	n/a	n/a
Gross margin	64.7%	n/a	n/a
Selling, general and administrative	35.6	n/a	n/a	n/a
Operating income	331	n/a	n/a	n/a
Operating margin	35.0%	n/a	n/a
Interest expense	57.4	n/a	n/a	n/a
Pre-tax income	280	n/a	n/a	n/a
Income tax	38.4	n/a	n/a	n/a
Effective tax rate	13.7%	n/a	n/a
Net income	242	n/a	n/a	n/a
Net margin	25.6%	n/a	n/a
Diluted EPS	$1.20	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	392	n/a	n/a	n/a
Capital expenditure	299	n/a	n/a	n/a
Free cash flow	93.0	n/a	n/a	n/a
Free cash flow margin	9.8%	n/a	n/a
Cash from investing	-300	n/a	n/a	n/a
Cash from financing	-89.6	n/a	n/a	n/a
Depreciation and amortisation	132	n/a	n/a	n/a
Share-based compensation	3.2	n/a	n/a	n/a
Dividends paid	82.9	n/a	n/a	n/a
Dividend per share	$0.42	n/a	n/a	n/a
Diluted shares, weighted	201m	n/a	n/a	n/a
Shares outstanding at period end	200m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	4,541	n/a	n/a	n/a
Short-term borrowings	411	n/a	n/a	n/a
Debt	4,340	n/a	n/a	n/a
Other liabilities	3,451	n/a	n/a	n/a
Total liabilities and equity	12,743	n/a	n/a	n/a
Fixed assets	11,114	n/a	n/a	n/a
Cash and equivalents	2.8	n/a	n/a	n/a
Receivables	351	n/a	n/a	n/a
Inventory	124	n/a	n/a	n/a
Other assets	1,151	n/a	n/a	n/a
Total assets	12,743	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	945	567	597	663	965	760	748	742	1,045	726	753	712
Cost of revenue	334	196	232	194	350	300	324	261	388	286	337	218
Gross profit	612	371	365	469	615	460	424	480	656	440	416	494
Gross margin	65%	66%	61%	71%	64%	61%	57%	65%	63%	61%	55%	69%
SG&A	35.6	39.3	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	331	96.2	74.0	176	313	182	133	187	341	138	113	192
Operating margin	35%	17%	12%	27%	32%	24%	18%	25%	33%	19%	15%	27%
Interest expense	57.4	58.5	60.2	64.9	64.2	65.2	67.3	72.2	69.6	61.2	59.9	66.7
Pre-tax income	280	44.4	20.2	122	260	119	72.9	130	277	81.3	59.4	138
Tax rate	14%	-9%	8%	16%	16%	15%	14%	17%	16%	15%	15%	16%
Net income	242	48.2	18.6	102	219	102	62.7	108	231	69.2	50.2	116
Net margin	26%	9%	3%	15%	23%	13%	8%	14%	22%	10%	7%	16%
Diluted EPS	$1.20	$0.24	$0.09	$0.51	$1.09	$0.50	$0.31	$0.53	$1.14	$0.34	$0.24	$0.56
Operating cash flow	392	383	83.0	253	347	130	15.9	339	398	385	176	336
Capital expenditure	299	299	227	323	244	297	250	274	230	302	267	222
Free cash flow	93.0	84.8	-144	-70.2	103	-167	-234	64.9	168	83.1	-91.3	114
Dividends paid	82.9	83.8	85.9	84.0	84.0	84.6	86.6	84.9	84.8	85.6	89.1	87.7
Shares outstanding	200m	200m	201m	201m	201m	201m	201m	201m	201m	206m	206m	n/a
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0000950170-23-057629: the filing on EDGAR. All of OGE Energy Corp.'s filings: EDGAR company page.

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