Abstract

Portland General Electric Company will release its quarterly results on February 20, 2026 Pre-Market. This preview summarizes recent performance, last quarter’s outcomes, and consensus expectations for revenue, margins, and adjusted EPS, along with institutional perspectives within the January 01, 2026 to February 13, 2026 window.

Market Forecast

For the current quarter, market and internal projections point to revenue of 888.06 million, an adjusted EPS estimate of 0.66, and EBIT of 140.62 million. Year-over-year growth rates implied by the estimates are 33.88% for revenue, 89.04% for EPS, and 39.92% for EBIT. While the company’s last reported gross profit margin was 49.16% and net profit margin was 10.82%, the present quarter’s margin forecasts have not been disclosed via tools; investors will focus on potential stability in gross margin amid ongoing cost pass-through and fuel normalization.

Portland General’s main business remains Retail electricity sales, Wholesale transactions, and Other Business services, with Retail contributing 794.00 million last quarter and Wholesale 136.00 million. The highlight for the current period is the continued recovery in retail volumes and cost alignment, with management and market estimates implying stronger profit conversion. The most promising segment is Retail, which delivered 794.00 million last quarter; upcoming growth is expected as favorable rate structures and usage trends persist, supported by the 33.88% forecast revenue increase at the company level.

Last Quarter Review

Portland General reported last quarter revenue of 952.00 million, a gross profit margin of 49.16%, GAAP net profit attributable to the parent company of 103.00 million, a net profit margin of 10.82%, and adjusted EPS of 1.00. Year-over-year, adjusted EPS increased by 11.11% and revenue rose by 2.48%, with EBIT reaching 184.00 million and exceeding the estimate by 3.54 million.

A notable highlight was margin resilience: gross margin of 49.16% reflected favorable fuel cost dynamics and steady rate recovery, supporting the net profit margin at 10.82% and net income of 103.00 million despite only modest revenue growth. Main business performance was led by Retail at 794.00 million, with Wholesale contributing 136.00 million and Other Business 22.00 million, underscoring a predominantly customer-facing revenue base and stable energy sales mix.

Current Quarter Outlook (with major analytical insights)

Main Business: Retail Electricity Sales

The company’s primary revenue engine is Retail electricity sales, which accounted for 794.00 million last quarter. For the current quarter, the revenue estimate of 888.06 million and sharp EPS growth of 89.04% suggest improved profitability leverage through rate structures and operational efficiency. Retail demand typically aligns with seasonal load patterns, and the modeled revenue growth of 33.88% year-over-year implies either a recovery in volumes or effective rate mechanisms that cushion input cost swings. With the last quarter’s gross margin at 49.16%, retail margins in the coming period may hinge on the balance between fuel costs, purchased power expenses, and tariff recovery. Stable net profit conversion at 10.82% previously hints at consistent cost controls; however, any deviations in customer usage or weather-related demand could influence margin variability. Overall, the retail segment appears positioned to carry the earnings trajectory, especially if weather normalization and customer growth trends continue to materialize in line with recent estimates.

Most Promising Business: Retail Margin Recovery and Revenue Scale

Retail not only dominates the revenue mix but also looks to be the key beneficiary of margin improvement in the current quarter. The forecasted EPS increase of 89.04% year-over-year signals stronger operating leverage than topline growth alone would imply. If fuel costs remain contained and purchased power rates are aligned with tariff adjustments, Portland General could preserve, or modestly expand, gross margins near last quarter’s 49.16% baseline. Management’s previous period delivery of a 10.82% net margin and net income of 103.00 million on 952.00 million revenue provides a reference point for profitability discipline. In the absence of disclosed quarterly margin forecasts, investors should watch indicators such as fuel and purchased power cost trends, rate pass-through mechanisms, and customer mix (residential vs. commercial/industrial), all of which can influence earnings sensitivity. The projected 39.92% year-over-year increase in EBIT suggests operational improvements and cost calibration are progressing, reinforcing the case for Retail as the segment with highest near-term earnings potential.

Factors Most Impacting the Stock Price This Quarter

Revenue growth and margin sustainability are central to share price reaction. The revenue estimate at 888.06 million and the EPS estimate at 0.66 imply a robust year-over-year rebound, likely reflecting better alignment of costs and demand stabilization. A key swing factor is fuel and purchased power expenses; if these remain favorable or recoverable through rates, gross margins could remain close to the 49.16% level observed last quarter, supporting bottom-line resilience. Weather and load variability present another pivotal factor: higher-than-expected demand could improve realized margins and earnings, while mild conditions may compress revenue and operating leverage. Regulatory and rate implementation dynamics will also matter for investors; effective recovery of costs under approved tariffs can reduce earnings volatility and underpin the nearly 40% projected growth in EBIT. Lastly, wholesale market conditions and contract pricing can affect the non-retail portions of the business, although the segment’s smaller contribution (136.00 million last quarter for Wholesale) means the largest stock-price sensitivity will still come from Retail performance and margin execution.

Analyst Opinions

Across institutional commentary gathered within the January 01, 2026 to February 13, 2026 timeframe, the prevailing perspective has been constructive on Portland General’s near-term earnings trajectory. The majority view emphasizes the modeled acceleration in EPS growth (89.04% year-over-year estimate) and solid revenue expansion (33.88% estimate), arguing that margin calibration and rate recovery mechanisms are driving improved profitability. Institutions highlight the better-than-estimated EBIT performance last quarter and suggest that similar operational discipline can continue, with modeled EBIT growth of 39.92% as a base case.

In supportive notes, analysts reference last quarter’s net profit margin of 10.82% and gross margin of 49.16% as evidence of stabilized cost dynamics, noting that fuel and purchased power pass-throughs have become more predictable. The bullish camp points out that Retail, at 794.00 million last quarter, remains the principal earnings driver, and that modelled revenue of 888.06 million for the current quarter supports a thesis of strengthening demand and effective rate structures. Under this consensus, the ratio of bullish to bearish opinions skews in favor of the bullish side, with positive perspectives centered on the improved EPS outlook and EBIT growth cadence. The analysis underscores that near-term share performance will be most sensitive to realized margins relative to expectations and the degree of alignment between demand patterns and cost recovery.

Overall, the constructive institutional stance rests on three pillars: the scale of Retail revenue and its margin leverage, the visible improvement in cost recovery illustrated by last quarter’s profitability metrics, and the breadth of growth signals embedded in current-quarter estimates for revenue, EPS, and EBIT. While investors await the February 20, 2026 release for confirmation, the majority view sees Portland General’s earnings path as improving, with upside potential contingent on sustained margin stability and the durability of rate and demand trends.