Latest news with #SeanTrauschke
Yahoo
15-05-2025
- Business
- Yahoo
OGE Energy elects board of directors at annual meeting
OKLAHOMA CITY, May 15, 2025 /PRNewswire/ -- OGE Energy Corp. (NYSE: OGE) virtually held its 2025 Annual Meeting of Shareholders today, electing its board of directors and acting on a number of items. Chairman, President and CEO Sean Trauschke began the meeting by thanking the company's employees for their strong execution and their continued focus on customers. "2024 delivered outstanding results for all stakeholders, including improved reliability for customers and continued economic prosperity in the growing communities we serve," Trauschke said. "Our dedicated team will continue our legacy of operational excellence and customer focus as we expect to continue our performance trajectory into 2025 and beyond." Trauschke discussed the company's commitment to pursue safe, reliable, resilient electricity at some of the lowest rates in the nation. He reflected on the healthy growth in our communities leveraged by low rates and economic development. In voting announced at the meeting, OGE Energy shareholders: Elected 10 members of the company's board of directors to one-year terms. They are: Judy R. McReynolds, lead director, chairman and chief executive officer of ArcBest Corporation. Frank A. Bozich, president and chief executive officer at Trinseo PLC Peter D. Clarke, former of-counsel and partner of Jones Day, a law firm Cathy R. Gates, former assurance partner of Ernst & Young LLP David L. Hauser, former chairman and chief executive officer of FairPoint Communications Inc. Luther C. Kissam, IV, senior advisor with Bernhard Capital Partners David E. Rainbolt, executive chairman of BancFirst Corporation J. Michael Sanner, former audit partner of Ernst & Young LLP Sheila G. Talton, president and chief executive officer of Gray Matter Analytics Sean Trauschke, current chairman, president and chief executive officer of OGE Energy Corp. and OG&E Ratified the appointment of Ernst & Young LLP as the company's principal independent accountants for 2025; Approved, on an advisory basis, the compensation paid to named executive officers; Did not approve an amendment of the Restated Certificate of Incorporation to eliminate supermajority voting provisions, as it received less than 80% of the outstanding shares of the Company's common stock required for passage. Quarterly Dividend DeclaredThe OGE Energy board of directors also declared a third quarter dividend of $0.42125 per common share of stock, to be paid July 25, 2025, to shareholders of record July 7, 2025. The dividend was unchanged from the previous quarter. OGE Energy Corp. is the parent company of OG&E, a regulated electric company with approximately 909,000 customers in Oklahoma and western Arkansas. This news release may contain "forward-looking" statements. Forward-looking statements are intended to be identified by words such as "anticipate," "believe," "intend," "plan," "expect," "continued," "goal," "may" or similar expressions. Factors that could affect actual results are listed in the reports filed by the Company with the Securities and Exchange Commission including those listed in Risk Factors in the Company's Form 10-K for the year ended December 31, 2024. View original content: SOURCE OGE Energy Corp. Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
OGE Energy Corp (OGE) Q1 2025 Earnings Call Highlights: Strong Growth Amidst Challenges
Consolidated Earnings: $0.31 per diluted share, including $0.35 for OG&E and a holding company loss of $0.04. Consolidated Net Income: $63 million compared to $19 million in the same period of 2024. Electric Company Net Income: $71 million or $0.35 per diluted share compared to $25 million or $0.12 per share in the same period of 2024. Customer Growth: 1% increase compared to the first quarter of 2024. Load Growth: 8% increase compared to the first quarter of 2024, with residential and commercial sectors growing at 3% and 28%, respectively. Operating Revenues: Increase driven by recovery of capital investments and strong growth. Expenses: Lower operation and maintenance expense, offset by higher income tax, depreciation, and interest expense. External Financing: Issued $350 million of 30-year debt at the electric company. Earnings Per Share Guidance: Affirmed at $2.27 within a range of $2.21 to $2.33 per share for 2025. Warning! GuruFocus has detected 10 Warning Signs with OGE. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. OGE Energy Corp (NYSE:OGE) reported strong consolidated earnings of $0.31 per diluted share, showing significant improvement from the previous year. The company experienced an 8% year-over-year increase in demand, driven by residential and commercial sectors. OGE Energy Corp (NYSE:OGE) maintains high reliability with a 99.975% reliability rate despite severe weather conditions. The company has secured key components like transformers, wire, and cable through 2026, ensuring minimal disruption to planned projects. OGE Energy Corp (NYSE:OGE) has a strong financial position with a high-quality balance sheet and no need for external equity issuances beyond a modest annual drip. The holding company reported a loss of $8 million or $0.04 per diluted share, slightly higher than the previous year's loss. There was some softness in the industrial and oil field customer classes due to planned and unplanned outages. Moody's has placed OGE Energy Corp (NYSE:OGE) on a negative outlook, with concerns about maintaining the current credit rating. The company faces potential regulatory challenges and uncertainties in tariff policies that could impact future operations. OGE Energy Corp (NYSE:OGE) is targeting an FFO to debt ratio of 17%, which is below the downgrade threshold of 18% set by Moody's. Q: Are you seeing any disruptive or inflationary impact on tariffs, especially related to new generation and the RFP? Do you have regulatory mechanisms to address any tariff headwinds across the current CapEx plan? A: Sean Trauschke, CEO: We feel confident about our current CapEx plan, with a clear line of sight to materials and assets, expecting little to no disruption. The announcement of tariffs caused a pause in the marketplace, but we are not overly concerned about regulatory actions as we have not filed anything yet. Q: The industrial segment showed lower growth compared to strong residential and commercial growth. Are there any key changes on the industrial side? A: Charles Walworth, CFO: The lower growth in the industrial segment is due to transitory events like maintenance outages. We don't see any external factors impacting this class and remain confident in our annual growth expectations. Q: Are there any conversations in Oklahoma about utility regulatory construct improvements, such as a formula rate? A: Sean Trauschke, CEO: We are pursuing discussions on formula rates, but it will take time. We don't expect changes this year but will continue to push for improvements in the future. Q: How would the generation rider and Pisa recovery impact your current plan and financing for incremental CapEx? A: Charles Walworth, CFO: The generation rider would provide cash flow during the construction phase, offering a cash return on the CWIP balance. This would marginally improve credit and facilitate financing for incremental CapEx. Q: Are you seeing any pullback in data center electricity demand, given the recent pullbacks by companies like Microsoft and Amazon? A: Sean Trauschke, CEO: We have ongoing discussions with about half a dozen data center projects, and there is no slowdown in demand. The interest remains strong. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
