Portland General Electric misses Q1 earnings despite $45M profit
PORTLAND, Ore. (AP) - Portland General Electric Co. (POR) on Friday reported first-quarter earnings of $45 million.
The Portland, Oregon-based company said it had profit of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The electric utility posted revenue of $879 million in the period.
Portland General Electric expects full-year earnings in the range of $3.33 to $3.53 per share.
