OGE Energy Corp.: Q3 FY2026 earnings call

What management said about Q3 FY2026, from the documents filed with the SEC on 28 October 2026: press release. Guidance figures: 1 raised. The quarter’s numbers.

Key takeaways

Diluted EPS rose to $1.52: OGE Energy's net income was $316.2 million, or $1.52 per diluted share, against $231.3 million, or $1.14, a year earlier. Source
Warmer weather drove the gain: The company attributed the OG&E net income increase to stronger sales from significantly warmer weather, partly offset by higher income tax expense. Source
OG&E earned $1.54 per diluted share: OG&E contributed net income of $320.9 million, or $1.54 per diluted share, against $242.9 million, or $1.20, in the third quarter of 2025. Source
Residential revenue rose sharply: Residential operating revenues were $523.2 million for the quarter, against $408.0 million a year earlier. Source
Fuel and purchased power expense rose: Fuel, purchased power and direct transmission expense was $441.2 million, against $388.5 million a year earlier. Source
Operating income rose to $428.5 million: Operating income was $428.5 million for the quarter, against $341.3 million a year earlier. Source
Cooling degree days far above last year: Actual cooling degree days were 1,897 for the quarter, against 1,288 a year earlier; heating degree days were nil, against a normal of 19. Source

“I'm proud of our team for delivering reliable service through record-setting weather conditions while continuing to execute on investments that strengthen the grid and position us to support future growth across our region”
Sean Trauschke, Chairman, President and CEO of OGE Energy Corp.

Guidance

Area	Period	Figure	Against last quarter
Consolidated diluted EPS Source	Full year 2026	$2.62 to $2.68	Raised from $2.38 to $2.48

What changed from last quarter

Guidance raised: Full-year 2026 diluted EPS guidance was raised to $2.62 to $2.68 from $2.38 to $2.48. Source

Quarter results and drivers

Diluted EPS rose to $1.52: OGE Energy's net income was $316.2 million, or $1.52 per diluted share, against $231.3 million, or $1.14, a year earlier. Source
Warmer weather drove the gain: The company attributed the OG&E net income increase to stronger sales from significantly warmer weather, partly offset by higher income tax expense. Source
Nine-month diluted EPS reached $2.32: For the nine months ended September 30, 2026, diluted EPS was $2.32, against $1.99 for the same period of 2025. Source
Diluted shares rose to 208.2 million: Diluted average common shares were 208.2 million in the quarter, against 202.1 million, and 207.7 million for the nine months, against 202.0 million. Source

OG&E and Other Operations

OG&E earned $1.54 per diluted share: OG&E contributed net income of $320.9 million, or $1.54 per diluted share, against $242.9 million, or $1.20, in the third quarter of 2025. Source
Other Operations loss narrowed: Other Operations, including the holding company, reported a loss of $4.7 million, or $0.02 per diluted share, against a loss of $11.6 million, or $0.06 per share a year earlier. Source
Other Operations helped by investments and interest: The company said Other Operations results were driven by higher income from energy-related investments and lower interest expense. Source

“OG&E has significant seasonality in its earnings due to weather on a year-over-year basis.”
OGE Energy Corp., press release

Sales and customers by class

Residential revenue rose sharply: Residential operating revenues were $523.2 million for the quarter, against $408.0 million a year earlier. Source
Commercial, industrial and oilfield revenue grew: Commercial revenue was $346.3 million against $319.1 million; industrial $87.5 million against $81.6 million; oilfield $79.3 million against $73.1 million; public authorities and street light $99.3 million against $87.7 million. Source
Residential MWh sales rose: Residential sales were 3.9 million MWh against 3.1 million, and commercial sales were 3.6 million MWh against 3.5 million. Source
Customer count reached 918,559: The financial data shows 918,559 customers, against 910,464 a year earlier. Source
Integrated market revenue rose, transmission fell: Integrated market revenue was $29.3 million against $23.6 million, and transmission revenue was $12.7 million against $38.8 million. Source

Fuel and operating costs

Fuel and purchased power expense rose: Fuel, purchased power and direct transmission expense was $441.2 million, against $388.5 million a year earlier. Source
Natural gas and coal cost per kWh fell: Natural gas fuel cost averaged 2.954 cents per kilowatt-hour, against 3.190 cents; coal averaged 2.647 cents, against 2.765 cents. Source
Operation and maintenance expense fell: Other operation and maintenance expense was $137.1 million for the quarter, against $143.3 million a year earlier. Source
Depreciation and taxes edged up: Depreciation and amortization was $149.2 million, against $146.7 million; taxes other than income were $26.8 million, against $25.2 million. Source

Operating income, tax and interest

Operating income rose to $428.5 million: Operating income was $428.5 million for the quarter, against $341.3 million a year earlier. Source
Income tax expense increased: Income tax expense was $60.0 million, against $45.5 million, on income before taxes of $376.2 million, against $276.8 million. Source
Short-term interest turned to a credit: Interest on short-term debt and other charges was a credit of $5.2 million, against a charge of $6.9 million; total interest expense was $63.0 million, against $69.6 million. Source
Long-term debt interest increased: Interest on long-term debt was $71.7 million for the quarter, against $66.4 million a year earlier. Source

Weather and demand

Cooling degree days far above last year: Actual cooling degree days were 1,897 for the quarter, against 1,288 a year earlier; heating degree days were nil, against a normal of 19. Source
Nine-month cooling above normal: For the nine months, actual cooling degree days were 2,761, against 1,886 a year earlier and a normal of 1,828. Source
Total MWh sales rose with cooling: Total sales were 11.1 million MWh for the quarter, against 9.9 million, and 27.9 million for the nine months, against 26.2 million. Source

Coming up, as management said on 28 October 2026

Earnings and business update call: Management scheduled an earnings and business update call for October 28, 2026, at 8 a.m. CDT, available through the Investor Center. Source

Risks management discussed

External: Management's 2026 guidance assumes normal weather for the remainder of the year. Source

Earlier plans management reported on

Ahead: Management said it expects to exceed its original 2026 earnings guidance range, citing warmer than normal weather. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

OGE Energy Corp. reports third quarter 2026 results

OKLAHOMA CITY - OGE Energy Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric Company ("OG&E"), today reported earnings of $1.52 per diluted share during the three months that ended September 30, 2026, compared to $1.14 per diluted share in the third quarter 2025.

OG&E, a regulated electric company, contributed earnings of $1.54 per diluted share in the third quarter, compared to earnings of $1.20 per diluted share in the third quarter 2025.

Other operations, which includes the holding company, contributed a loss of $0.02 per diluted share compared to a loss of $0.06 per diluted share in the third quarter of 2025.

"I'm proud of our team for delivering reliable service through record-setting weather conditions while continuing to execute on investments that strengthen the grid and position us to support future growth across our region," said Sean Trauschke, Chairman, President and CEO of OGE Energy Corp.

Third Quarter 2026 results

OG&E contributed net income of $320.9 million, or $1.54 per diluted share, in the third quarter compared to $242.9 million, or $1.20 per diluted share, in the same period 2025. The increase in net income was driven by stronger sales from significantly warmer weather, partially offset by increased income tax expense.

Other Operations resulted in a loss of $4.7 million, or $0.02 per diluted share, in the third quarter compared to a loss of $11.6 million, or $0.06 per diluted share, in the same period 2025. Results were driven by higher income from energy-related investments and lower interest expense.

OGE Energy's net income was $316.2 million or $1.52 per diluted share in the third quarter, compared to earnings of $231.3 million, or $1.14 per diluted share, in the same period 2025.

2026 Outlook

Due to warmer than normal weather, OGE Energy expects to exceed its original 2026 earnings guidance range. OGE Energy now expects consolidated earnings between $2.62 to $2.68 per average diluted share. The guidance assumes, among other things, normal weather for the remainder of the year. OG&E has significant seasonality in its earnings due to weather on a year-over-year basis.

See OGE Energy’s 2025 Form 10-K for other key factors and assumptions underlying its 2026 guidance.

Conference Call Webcast

OGE Energy Corp. will host an earnings and business update conference call on Wednesday, October 28, 2026, at 8 a.m. CDT. The conference will be available through the Investor Center at www.oge.com.

Forward-looking statements notice

Some of the matters discussed in this news release may contain forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "forecast," "intend," "objective," "plan," "possible," "potential," "project," "target" and similar expressions. Actual results may vary materially. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: general economic conditions, including the availability of credit, access to existing lines of credit, access to the commercial paper markets, actions of rating agencies and inflation rates, and their impact on capital expenditures; the ability of the Company to access the capital markets and obtain financing on favorable terms, as well as inflation rates and monetary fluctuations; the ability to obtain timely and sufficient rate relief to allow for recovery of items such as capital expenditures, fuel and purchased power costs, operating costs, transmission costs and deferred expenditures; prices and availability of electricity, coal and natural gas; competitive factors, including the extent and timing of the entry of additional competition in the markets served by the Company, potentially through deregulation; the impact on demand for the Company's services resulting from cost-competitive advances in technology, such as distributed electricity generation and customer energy efficiency programs; technological developments, changing markets and other factors that result in competitive disadvantages and create the potential for impairment of existing assets; factors affecting utility operations such as unusual weather conditions; catastrophic weather-related damage; unscheduled generation outages; unusual maintenance or repairs; unanticipated changes to fossil fuel, natural gas or coal supply costs or availability due to higher demand, shortages, transportation problems or other developments; environmental incidents; or electric transmission or gas pipeline system constraints; availability and prices of raw materials and equipment for current and future construction projects; the effect of retroactive pricing of transactions in the SPP markets, adjustments in market pricing mechanisms by the SPP, or allocation of transmission upgrade costs; federal or state legislation and regulatory decisions and initiatives that affect cost and investment recovery, have an impact on rate structures or affect the speed and degree to which competition enters the Company's markets; environmental laws, safety laws or other regulations that may impact the cost of operations, restrict or change the way the Company's facilities are operated or result in stranded assets; the ability of the Company to meet future capacity requirements mandated by the SPP, which could be impacted by future load growth, environmental regulations, and the availability of resources; changes in accounting standards, rules or guidelines; the discontinuance of accounting principles for certain types of rate-regulated activities; the cost of protecting assets against, or damage due to, terrorism or cyberattacks, including the Company losing control of its assets and potential ransoms, and other catastrophic events; the availability, cost, coverage and terms of insurance; changes in the use, perception or regulation of generative artificial intelligence technologies, which could limit the Company's ability to utilize such technology, create risk of enhanced regulatory scrutiny, generate uncertainty around intellectual property ownership, licensing or use, or which could otherwise result in risk of damage to the Company's business, reputation or financial results; creditworthiness of suppliers, customers and other contractual parties, including large, new customers from industries such as cryptocurrency and data centers; social attitudes regarding the electric utility and power industries; identification of suitable investment opportunities to enhance shareholder returns and achieve long-term financial objectives through business acquisitions and divestitures; increased pension and healthcare costs; national and global events that could adversely affect and/or exacerbate macroeconomic conditions, including inflationary pressures, interest rate fluctuations, supply chain disruptions, economic recessions, pandemic health events, tariffs and uncertainty surrounding continued hostilities or sustained military campaigns, and their collateral consequences; costs and other effects of legal and administrative proceedings, settlements, investigations, claims and matters, including, but not limited to, those described in the Company's Form 10-Q for the quarter ended September 30, 2026; and other risk factors listed in the reports filed by the Company with the Securities and Exchange Commission, including those listed within the Company's most recent Form 10-K for the year ended December 31, 2025.

Note: Condensed Consolidated Statements of Income for OGE Energy Corp., Condensed Statements of Income and Comprehensive Income for Oklahoma Gas & Electric Company, and Financial and Statistical Data for Oklahoma Gas & Electric Company attached.

OGE ENERGY CORP.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(In millions, except per share data)	2026	2025	2026	2025
OPERATING REVENUES
Revenues from contracts with customers	$1,162.9	$1,028.4	$2,587.6	$2,489.2
Other revenues	19.9	16.6	59.7	45.1
Operating revenues	1,182.8	1,045.0	2,647.3	2,534.3
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE	441.2	388.5	995.6	973.6
OPERATING EXPENSES
Other operation and maintenance	137.1	143.3	412.3	392.2
Depreciation and amortization	149.2	146.7	423.7	424.7
Taxes other than income	26.8	25.2	82.5	82.6
Operating expenses	313.1	315.2	918.5	899.5
OPERATING INCOME	428.5	341.3	733.2	661.2
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction	7.4	6.3	22.2	19.3
Other net periodic benefit expense	(2.6)	(2.7)	(7.8)	(8.2)
Other income	17.5	6.1	46.4	30.3
Other expense	(11.6)	(4.6)	(31.0)	(14.3)
Net other income	10.7	5.1	29.8	27.1
INTEREST EXPENSE
Interest on long-term debt	71.7	66.4	209.6	194.4
Allowance for borrowed funds used during construction	(3.5)	(3.7)	(10.5)	(11.9)
Interest on short-term debt and other interest charges	(5.2)	6.9	(9.5)	26.6
Interest expense	63.0	69.6	189.6	209.1
INCOME BEFORE TAXES	376.2	276.8	573.4	479.2
INCOME TAX EXPENSE	60.0	45.5	90.7	77.7
NET INCOME	$316.2	$231.3	$482.7	$401.5
BASIC AVERAGE COMMON SHARES OUTSTANDING	206.7	201.5	206.5	201.3
DILUTED AVERAGE COMMON SHARES OUTSTANDING	208.2	202.1	207.7	202.0
BASIC EARNINGS PER AVERAGE COMMON SHARE	$1.53	$1.15	$2.34	$1.99
DILUTED EARNINGS PER AVERAGE COMMON SHARE	$1.52	$1.14	$2.32	$1.99

OKLAHOMA GAS AND ELECTRIC COMPANY

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(In millions)	2026	2025	2026	2025
OPERATING REVENUES
Revenues from contracts with customers	$1,162.9	$1,028.4	$2,587.6	$2,489.2
Other revenues	19.9	16.6	59.7	45.1
Operating revenues	1,182.8	1,045.0	2,647.3	2,534.3
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE	441.2	388.5	995.6	973.6
OPERATING EXPENSES
Other operation and maintenance	137.1	143.5	412.5	391.6
Depreciation and amortization	149.2	146.7	423.7	424.7
Taxes other than income	26.8	25.2	82.5	82.6
Operating expenses	313.1	315.4	918.7	898.9
OPERATING INCOME	428.5	341.1	733.0	661.8
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction	7.4	6.3	22.2	19.3
Other net periodic benefit expense	(2.5)	(2.7)	(7.5)	(7.8)
Other income	8.4	4.2	17.5	13.6
Other expense	(0.8)	(0.5)	(2.2)	(1.9)
Net other income	12.5	7.3	30.0	23.2
INTEREST EXPENSE
Interest on long-term debt	66.0	60.6	192.5	177.0
Allowance for borrowed funds used during construction	(3.5)	(3.7)	(10.5)	(11.9)
Interest on short-term debt and other interest charges	(6.8)	(2.7)	(17.9)	9.3
Interest expense	55.7	54.2	164.1	174.4
INCOME BEFORE TAXES	385.3	294.2	598.9	510.6
INCOME TAX EXPENSE	64.4	51.3	100.0	89.0
NET INCOME	$320.9	$242.9	$498.9	$421.6
Other comprehensive income, net of tax	-	-	-	-
COMPREHENSIVE INCOME	$320.9	$242.9	$498.9	$421.6

OKLAHOMA GAS AND ELECTRIC COMPANY

FINANCIAL AND STATISTICAL DATA

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(Dollars in millions)	2026	2025	2026	2025
Operating revenues by classification:
Residential	$523.2	$408.0	$1,044.7	$956.3
Commercial	346.3	319.1	773.9	753.8
Industrial	87.5	81.6	204.7	204.0
Oilfield	79.3	73.1	187.0	185.5
Public authorities and street light	99.3	87.7	223.5	213.0
System sales revenues	1,135.6	969.5	2,433.8	2,312.6
Provision for rate refund	-	-	-	3.0
Integrated market	29.3	23.6	104.0	71.2
Transmission	12.7	38.8	83.9	120.7
Other	5.2	13.1	25.6	26.8
Total operating revenues	$1,182.8	$1,045.0	$2,647.3	$2,534.3
MWh sales by classification (In millions)
Residential	3.9	3.1	8.3	7.7
Commercial	3.6	3.5	9.7	9.3
Industrial	1.1	1.1	3.1	3.1
Oilfield	1.1	1.1	3.3	3.2
Public authorities and street light	1.0	0.9	2.4	2.3
System sales	10.7	9.7	26.8	25.6
Integrated market	0.4	0.2	1.1	0.6
Total sales	11.1	9.9	27.9	26.2
Number of customers	918,559	910,464	918,559	910,464
Weighted-average cost of energy per kilowatt-hour (In cents)
Natural gas	2.954	3.190	3.959	3.704
Coal	2.647	2.765	2.633	2.759
Total fuel	2.759	2.965	3.403	3.243
Total fuel and purchased power	3.836	3.732	3.440	3.549
Degree days (A)
Heating - Actual	-	-	1,510	2,056
Heating - Normal	19	19	2,158	2,158
Cooling - Actual	1,897	1,288	2,761	1,886
Cooling - Normal	1,265	1,265	1,828	1,828

(A)

Degree days are calculated as follows: The high and low degrees of a particular day are added together and then averaged. If the calculated average is above 65 degrees, then the difference between the calculated average and 65 is expressed as cooling degree days, with each degree of difference equaling one cooling degree day. If the calculated average is below 65 degrees, then the difference between the calculated average and 65 is expressed as heating degree days, with each degree of difference equaling one heating degree day. The daily calculations are then totaled for the particular reporting period. The calculation of heating and cooling degree normal days is based on a 30-year average and weighted on a jurisdictional split.