Strong Financial Performance
Portland General Electric reported GAAP net income of $103 million or $0.94 per diluted share for Q3 2025, and non-GAAP net income of $110 million or $1 per share. This compares to Q3 2024 GAAP net income of $94 million or $0.90 per diluted share.
Robust Load Growth
Total load increased by 5.5% overall and 7.3% weather adjusted compared to Q3 2024. Industrial load saw significant growth with a 13% increase, led by data centers and high-tech customers.
Successful Tax Credit Monetization
The company secured over $1 billion of PTCs and ITCs for its clean energy portfolio, with another $1 billion expected from long-term third-party contracts.
Capital and Liquidity Position
Total liquidity at the end of Q3 was just over $1 billion. The company completed its ATM pricing activity for 2025, drawing $49 million in August and $72 million in October for rate base investment and general corporate purposes.