Portland General Electric Q4 Profit Down; Initiates FY15 EPS View - Quick Facts

(RTTNews) - Portland General Electric Co. (POR) posted lower net income of $43 million, or $0.55 per share, for the fourth quarter of 2014, compared with $47 million, or $0.59 per share, for the comparable period of 2013. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.52 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net revenues were $500 million, versus the previous year figure of $499 million a year earlier, whereas consensus estimate was $550.61 million. Year-over-year, retail revenues decreased $2 million in the fourth quarter of 2014, driven by an 11 percent fall in residential energy deliveries resulting from warmer weather.

In addition, the company issued its full-year 2015 earnings guidance in the range of $2.20 to $2.35 per share. Analysts project annual earnings of $2.28 per share.