OGE Energy (OGE) Q3 2026 Earnings Report
MX:OGE Q3 2026 EPS Results
- Actual EPS
- MXN 28.56
- Consensus EPS
- MXN 25.65
- Beat/Miss
- Beat by +MXN 2.91
- One Year Ago EPS
- MXN 21.42
MX:OGE Q3 2026 Revenue Results
- Actual Revenue
- MXN 22.23B
- Expected Revenue
- MXN 21.08B
- Beat/Miss
- Beat by +MXN 1.15B
- YoY Revenue Growth
- +13.19%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/28/2026
- Time
- Before Open
- Conference Call
- Wednesday, October 28, 2026
OGE Energy's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive, with higher third-quarter earnings, raised 2026 guidance, reliable system performance during extreme heat, healthy customer and load growth, successful generation project execution, and expanded investment opportunities. The company also reported higher income tax expense, a holding company loss, temporary usage reductions from maintenance outages, and an outstanding 1.1 GW capacity need, but these issues were outweighed by the earnings growth, reliability results, financing flexibility, and planned generation investments.
OGE raised its 2026 consolidated earnings guidance range to $2.62-$2.68 per share, assuming normal weather for the remainder of the year and reflecting opportunities to execute work planned for future years; customer growth and weather-normalized load growth remain at approximately 1%, the company expects approximately $200 million of incremental equity over the planning horizon through its up to $750 million ATM program, and its five-year capital plan includes an incremental $555 million of investment, including $395 million for Frontier Energy Storage Project and $160 million of transmission investments planned between 2027 and 2030. The company expects Horseshoe Lake Unit 15 to represent approximately $1.75 billion of investment with an expected in-service date in 2031, has approximately 1.1 GW of remaining capacity need, anticipates submitting additional pre-approval filings before year-end, and will provide updates on accepted SPP Notices to Construct on its fourth quarter earnings call, the Oklahoma rate review and Horseshoe Lake 15 pre-approval case on its first quarter call, and regulatory approval for additional generation filings on its second quarter call; management also said it will take a fresh look at the 5%-7% EPS CAGR next year.
- Strong Third-Quarter Earnings GrowthConsolidated net income was approximately $316 million, or $1.52 per diluted share, compared with $231 million, or $1.14 per share, in the same period of 2025. The increase was primarily driven by significantly warmer third-quarter weather.
- Electric Company Earnings IncreaseThe electric company reported net income of approximately $321 million, or $1.54 per diluted share, compared with $243 million, or $1.20 per diluted share, in the same period of 2025.
- Higher 2026 Earnings GuidanceThe company raised its 2026 consolidated earnings guidance range to $2.62-$2.68 per share. The updated range assumes normal weather for the remainder of the year and reflects opportunities to execute work planned for future years.
- Grid Reliability During Extreme HeatThe service area experienced more than 45 days of triple-digit temperatures compared with just one last year. The system reached a new peak load four times, with 15 days exceeding the 2024 peak record, yet there were no calls for the public to conserve energy.
- Lower Residential Electricity PricesResidential price per kilowatt hour was 7% lower in August and September than a year ago, while extended air-conditioning use drove higher electricity consumption.
- Expanded Customer Assistance and Payment FlexibilityThe Oklahoma rate review includes expanded senior discounts and low-income assistance, a pilot program to help customers with past-due balances resume payments, and new Choose My Due Date prepayment options.
- New 755 MW Generation FilingOGE filed with the Oklahoma Corporation Commission for pre-approval to construct a new 755 MW combined-cycle plant at the Horseshoe Lake site and expects to file with the Arkansas Public Service Commission in the coming weeks.
- Horseshoe Lake Units Completed Ahead of Schedule and Under BudgetHorseshoe Lake Units 11 to 12 were completed ahead of schedule and $12 million under budget. Their early operation is expected to avoid up to $16 million in capacity purchases this winter. The units add approximately 448 MW of flexible generation capacity, bringing total additions this year to 544 MW.
- Additional Horseshoe Lake Capacity Under ConstructionHorseshoe Lake Units 13 to 14 are under construction and will add another 440 MW of generation capacity.
- Community Assistance ExpandedOGE refreshed its Lend a Hand bill assistance program with a broader network of nonprofit partners and a financial commitment from the OGE Energy Corporation Foundation to match customer donations.
- Healthy Customer and Load GrowthCustomer growth and weather-normalized load growth were both approximately 1%. Management said customer commitments remain firmly in place and provide continued confidence in stronger, longer-term growth.
- Horseshoe Lake Unit 15 Selected as Highest-Ranked RFP ProjectHorseshoe Lake Unit 15 was selected through the 2026 all-source RFP as the highest-ranked project. It will add efficient, dispatchable generation while leveraging existing infrastructure at the site.
- Significant Unit 15 Investment and Customer BenefitsHorseshoe Lake Unit 15 represents approximately $1.75 billion of investment and has an expected in-service date in 2031. Oklahoma legislation provides CWIP recovery, which the company estimates will save customers more than $900 million over the life of the asset while smoothing the impact on customer bills during construction.
- Regulatory Review Timeline ImprovedRecent Oklahoma legislation established a 180-day regulatory review process for pre-approval filings, providing greater certainty as the company works to bring needed resources online.
- Generation Ownership StrategyManagement said it intends to own and operate the majority of the remaining generation needs, while utilizing some short-term bridge capacity during construction and other interim periods.
- Additional Capital Plan Investments ApprovedThe five-year capital plan now includes an incremental $555 million of investment, including $395 million for the Frontier Energy Storage Project and $160 million of transmission investments planned between 2027 and 2030.
- Flexible Equity Financing EstablishedThe company established an inaugural at-the-market equity program authorizing up to $750 million of common equity issuances. OGE expects approximately $200 million of incremental equity over the planning horizon to be raised through the ATM program.
- Strong Project Execution and Cost PositionManagement highlighted its demonstrated record of bringing gas projects in on time and on budget. It also stated that Horseshoe Lake Unit 15 ranks well economically on a price-per-kilowatt basis and benefits from using an existing brownfield site.
- Generation Technology Mix IdentifiedManagement said the remaining generation plan will be principally gas, with a possible combination of solar and storage.
MX:OGE Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | 6.03- | 6.39 | ― | ― |
| Oct 28, 2026 | 2026 (Q3) | 25.6528.56 | 21.42 | 33.33% (+7.14) | |
| Jul 29, 2026 | 2026 (Q2) | 10.4110.52 | 9.96 | 5.66% (+0.56) | |
| Apr 29, 2026 | 2026 (Q1) | 4.744.51 | 5.83 | -22.58% (-1.32) | |
| Feb 18, 2026 | 2025 (Q4) | 6.116.39 | 9.4 | -32.00% (-3.01) | |
| Oct 29, 2025 | 2025 (Q3) | 21.5221.42 | 20.48 | 4.59% (+0.94) | |
| Jul 30, 2025 | 2025 (Q2) | 9.779.96 | 9.58 | 3.92% (+0.38) | |
| Apr 30, 2025 | 2025 (Q1) | 4.285.83 | 1.69 | 244.44% (+4.13) | |
| Feb 19, 2025 | 2024 (Q4) | 9.239.40 | 4.51 | 108.33% (+4.89) | |
| Nov 05, 2024 | 2024 (Q3) | 21.1420.48 | 22.55 | -9.17% (-2.07) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
