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Portland General Electric Company (POR) filed Quarterly Report for the period ended 2011-06-30.
Portland General Electric has a market cap of $1.78 billion; its shares were traded at around $23.57 with a P/E ratio of 10.5 and P/S ratio of 1.1. The dividend yield of Portland General Electric stocks is 4.6%.
This is the annual revenues and earnings per share of POR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of POR.
Highlight of Business Operations:
Actual NVPC for the first half of 2011 was approximately $29 million below baseline NVPC, with PGE recording an estimated refund to customers of approximately $12 million as of June 30, 2011, pursuant to the Company s power cost adjustment mechanism (PCAM). For the first half of 2010, actual NVPC was approximately $9 million below baseline NVPC, with no refund to customers recorded as actual NVPC was within the established deadband range.
Capital Requirements and Financing — PGE s capital requirements for 2011 are related primarily to ongoing expenditures for the upgrade, replacement, and expansion of transmission, distribution and generation infrastructure, and technology enhancements, as well as expenditures related to hydro licensing and construction. Capital expenditures are expected to approximate $330 million in 2011, of which $138 million was incurred during the first half of the year. For further information, see the Capital Requirements section of this Item 2.
Net income attributable to Portland General Electric Company was $22 million, or $0.29 per diluted share, for the second quarter of 2011 compared to $24 million, or $0.32 per diluted share, for the second quarter of 2010. The impacts of PGE s power cost adjustment mechanism, regulatory treatment of income taxes and the decoupling mechanism in the second quarters of 2011 and 2010, along with higher operating costs, primarily driven by extensive plant maintenance and increased incentive compensation, all contributed to the $2 million decrease in net income.
Net income attributable to Portland General Electric Company was $91 million, or $1.21 per diluted share, for the first half of 2011 compared to $51 million, or $0.68 per diluted share, for the first half of 2010. The $40 million increase in net income was largely driven by the combination of a 13% decrease in average variable power cost, a 6% increase in total retail energy deliveries and a 3% increase in customer prices. Decreased average variable
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