POR FY 2023 Earnings Report — Portland General Electric Company Revenue & Financial Results | Market Cap Arena

Portland General Electric CompanyPOR

FY 2023 Earnings

Reported February 20, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.9B	—	$2.6B	—	10.4%
Op. Income	$396M	—	$397M	—	-0.3%
Gross Margin	46.5%	—	49.5%	—	-3.0pp
Net Margin	7.8%	—	8.8%	—	-1.0pp
EPS (Diluted)	$2.33	—	$2.60	—	-10.4%
Free Cash Flow	-$938M	—	-$92M	—	-919.6%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$335M
Other Expenses	$628M
Operating Expenses	$963M
Cost & Expenses	$2.5B
OPERATING INCOME	$396M
Interest Income	$0
Interest Expense	$173M
Other Income/Expenses	-$123M
INCOME BEFORE TAX	$273M
Income Tax Expense	$45M
Net Income from Continuing Ops	$228M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$228M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$228M
D&A	$458M
EBIT	$402M
EBITDA	$860M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$1.6B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$335M
Other Expenses	$628M
Operating Expenses	$963M
Cost & Expenses	$2.5B
OPERATING INCOME	$396M
Interest Income	$0
Interest Expense	$173M
Other Income/Expenses	-$123M
INCOME BEFORE TAX	$273M
Income Tax Expense	$45M
Net Income from Continuing Ops	$228M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$228M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$228M
D&A	$458M
EBIT	$402M
EBITDA	$860M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$228M
Depreciation & Amortization	$458M
Stock-Based Compensation	$0
Deferred Income Tax	$8M
Other Non-Cash Items	$100M
Change in Working Capital	-$374M
OPERATING CASH FLOW	$420M
Capital Expenditure	-$1.4B
Acquisitions (Net)	$0
Purchases of Investments	-$1M
Sales/Maturities of Investments	$1M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$486M
Common Stock Repurchased	$0
Common Dividends Paid	-$179M
Other Financing Activities	-$14M
NET CASH FROM FINANCING	$778M
FREE CASH FLOW	-$938M
Net Change in Cash	-$160M

Balance Sheet

Item	Amount
Cash & Equivalents	$5M
Short-Term Investments	$0
Net Receivables	$414M
Inventory	$113M
Other Current Assets	$335M
TOTAL CURRENT ASSETS	$935M
PP&E (Net)	$9.2B
Goodwill	$0
Intangible Assets	$375M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$709M
TOTAL NON-CURRENT ASSETS	$10.3B
TOTAL ASSETS	$11.2B
Account Payables	$347M
Short-Term Debt	$226M
Deferred Revenue	$0
Other Current Liabilities	$402M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$3.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$488M
Other Non-Current Liabilities	$2.1B
TOTAL NON-CURRENT LIABILITIES	$6.8B
TOTAL LIABILITIES	$7.9B
Common Stock	$1.8B
Additional Paid-In Capital	$0
Retained Earnings	$1.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$11.2B
Total Debt	$4.5B
Net Debt	$4.5B