Portland General Electric Co · NYSE:POR
Portland General Electric — Q3 2026 Earnings Presentation
13 slides from Portland General Electric's earnings presentation, Oct 29, 2026
Slide 1: Earnings Conference Call Third Quarter 2026
Portland General Electric EARNINGS CONFERENCE CALL THIRD QUARTER 2026 1 Exhibit 99.2
Slide 2: Cautionary statement
Cautionary statement Information Current as of October 29, 2026 Except as expressly noted, the information in this presentation is current as of October 29, 2026 – the date on which Portland General Electric Company (PGE) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 20
Slide 3: Management participants
Management participants Maria Pope President and CEO Joe Trpik SVP of Finance and CFO
Slide 4: Advancing strategic priorities
Advancing strategic priorities Customer Growth Supporting the region’s economic development, including high-tech and data center growth Customer Affordability Working to keep customer prices as low as possible while serving safe, reliable power Clean Energy Investing in customer-driven clean energy
Slide 5: 2026 Adjusted EPS guidance updated; long-term guidance remains intact
2026 Adjusted EPS guidance updated; long-term guidance remains intact (1) See appendix for important information about non-GAAP measures, guidance, and reconciliations Updating 2026 adjusted(1) earnings guidance from $3.33 - $3.53 to $3.18 - $3.28 per diluted share 2026 weather adjusted load growth
Slide 6: Key Drivers – Variance from Guidance Midpoint
Key Drivers – Variance from Guidance Midpoint Q3 adjusted EPS (1) of $1.06 was $0.20 below the guidance midpoint, reflecting unfavorable weather. Key Drivers – Variance from Prior Year Weather represented a $0.15 year-over-year EPS headwind, reflecting a $0.13 detriment in Q3 2026 compared with a $0
Slide 7: Strong capex outlook supports sustained rate base growth
Note: Capital expenditures exclude allowance for funds used during construction. These are projections based on assumptions of future investment. Actual amounts expended will depend on various factors, including, but not limited to, siting, permitting, tariffs and supply chain constraints, and may d
Slide 8: Stable, investment grade credit ratings and strong cash flow metrics
Ratings S&P Moody’s Senior Unsecured / Outlook BBB+ / Stable A3 / Stable 2026 Credit Metric Estimate(1) 17.1% FFO 19.3% CFO pre-WC Stable, investment grade credit ratings and strong cash flow metrics Metrics are estimated as of 9/30/2026 $152M drawn related to 2026 equity forward sale agreement and
Slide 9: Appendix
Appendix 9
Slide 10: Capturing high-tech and data center demand
Capturing high-tech and data center demand Values represent customer capacity as of October 29, 2026. Oregon’s New Large Load Tariff The New Large Load Tariff provides greater certainty for large-load customers and supports continued economic growth across our region and supports residential and sma
Slide 11: Washington acquisition update
Washington acquisition update Regulatory Status Overview 11 Electric Service Area Operating Transmission Lines Power Plants Chehalis Natural Gas Plant 477 MW Seattle Goodnoe Hills Wind Farm 94 MW Marengo I/II Wind Farm 234 MW Lewiston Walla Walla Kennewick Yakima Initial Filings Complete: OR & WA (P
Slide 12: Non-GAAP measures
This presentation contains certain non-GAAP measures, such as adjusted earnings, adjusted EPS and adjusted earnings guidance. These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities, are infrequent in nature, or both. PGE believes
Slide 13: Non-GAAP Earnings Reconciliation
Non-GAAP Earnings Reconciliation for the three months ended March 31, 2026 (Dollars in millions, except EPS) Net Income Diluted EPS GAAP as reported for the three months ended March 31, 2026 $45 $0.38 Exclusion of regulatory deferral adjustment charge related to 2024 15 0.13 Exclusion of business tr
Portland General Electric — Q3 2026 Earnings Presentation on 6ix