Shares of OGE Energy Corp. OGE inched up 2.7% to reach $45.20 on Feb. 21, following its fourth-quarter 2024 results.

The company reported fourth-quarter 2024 earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 48 cents. The figure also improved from earnings of 24 cents per share in the year-ago quarter.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

OGE reported 2024 earnings of $2.19 per share, which were higher than the year-ago figure of $2.07.

OGE Energy’s Revenues

OGE’s operating revenues of $761 million rose 34.2% from $567 million recorded in the prior-year quarter. The top line also beat the Zacks Consensus Estimate of $673 million by 13.1%.

The company reported revenues of $2.92 billion in 2024, which were higher than $2.61 billion in 2023.

OGE Energy Corporation Price, Consensus and EPS Surprise

OGE Energy Corporation price-consensus-eps-surprise-chart | OGE Energy Corporation Quote

OGE’s Operational Highlights

Total sales were 7.7 million megawatt-hours (MWh), up from 6.9 million MWh in the prior-year quarter. The company’s customer count increased 1.2% to 906,952.

During 2024, the cost of fuel, purchased power and direct transmission increased 18.1% to $1.08 billion.

Total operating expenses rose 4.6% to $1.16 billion, due to higher depreciation and amortization expenses, other operation and maintenance expenses as well as taxes other than income.

Operating income totaled $745.3 million in 2024, up 14.6% from the year-ago quarter’s level of $650.2 million.

Interest expenses totaled $254.4 million, up 15% from the year-ago quarter’s level of $221.4 million.

OGE Energy’s Segment Details

OGE Energy reported fourth-quarter net income of $101.9 million, up 111.4% from the prior-year quarter’s figure of $48.2 million.

The OG&E segment’s net income amounted to $110.4 million, up 127.2% from the year-ago period’s $48.6 million.

The year-over-year growth was driven by higher operating revenues as well as exceptional load growth, and lower operation and maintenance expenses.

The Other Operations unit incurred a net loss of $8.5 million, which was wider than the year-ago quarter’s loss of $0.4 million. The deterioration was due to higher interest expense.

OGE Energy’s Financial Highlights

OGE had cash and cash equivalents of $0.6 million as of Dec. 31, 2024, compared with $0.2 million as of Dec. 31, 2023.

Long-term debt totaled $5.02 billion as of the same date, up from $4.34 billion as of Dec. 31, 2023.

The net cash flow from operating activities amounted to $0.81 billion during 2024 compared with $1.23 billion at the end of 2023.

OGE’s 2025 Guidance

OGE Energy introduced its 2025 earnings per share guidance. It expects to generate earnings in the range of $2.21-$2.33 per share. The Zacks Consensus Estimate is pegged at $2.27 per share, which lies in line with the mid-point of the company’s guided range.

OGE’s Zacks Rank

OGE currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

NextEra Energy, Inc. NEE reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%. The company reported operating revenues of $5.38 billion, which lagged the consensus estimate of $6.49 billion by 17%.

WEC Energy Group WEC reported fourth-quarter 2024 earnings of $1.43 per share, which missed the Zacks Consensus Estimate of $1.44 by 0.7%. The company reported operating revenues of $2.28 billion, which missed the consensus estimate of $2.6 billion by 12.1%.

National Fuel Gas Company NFG reported first-quarter fiscal 2025 adjusted operating earnings of $1.66 per share, which beat the Zacks Consensus Estimate of $1.57 by 5.7%. The company reported sales of $549.5 million, which missed the consensus estimate of $594 million by 7.5%.

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