WASHINGTON (dpa-AFX) - (Adds Outlook)
Portland General Electric Co. (POR) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $72 million, or $0.69 per share. This compares with $40 million, or $0.39 per share, in last year's second quarter.
Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 17.0% to $758 million from $648 million last year.
Outlook
For fiscal 2024, the company reaffirmed its adjusted earnings guidance of $2.98 to $3.18 per share. The Street is looking for earnings of $3.06 per share for the year.
In pre-market activity on the NYSE, Portland General shares were gaining around 1.5 percent to trade at $48.58.
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