OGE NYSE Russell 1000 Earnings call
OGE Energy (OGE) · Q2 2026 results and valuation
Share price: $51.07 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 29 Apr 2026
Net income up 131.7% on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+131.7%
Net income vs Q1 2026
Outlook given
Net income 116.3M vs 50.2M
Revenue −5.4%
Against the same quarter last year (Q2 2025) it is +8.2% — part of the move on last quarter is seasonal.
2 · How management spoke
Typical
Less upbeat than 62% of company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Figure
The company reported approximately 24% load growth, which reinforces a meaningful growth tailwind and builds on a historically strong trajectory.
Valuation
Is OGE Energy undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.
Current price
$51.07
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+39.9% for 10 yrs
Fair value / share
$-24.19
Buy below
$-18.14
Price vs fair value
n/a
Price vs buy-below price
n/a
Read between the lines
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Guidance
OGE Energy has reaffirmed its 2026 guidance and are advancing the regulatory and capital initiatives that will help shape the next phase of growth.
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Fading
Net income fell to $50 million or $0.24 per diluted share from $63 million or $0.31 per share in the same period last year.
Source quote
“In our core business, the electric company achieved net income of approximately $58 million or $0.28 per diluted share compared... Consolidated net income was approximately $50 million or $0.24 per diluted share compared to $63 million or $0.31 per share in the same period of 2025. The decrease in net income...”
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Fading
The company stated the large load tariff is intended to protect those customers, ensuring a full agenda remains in place.
Source quote
“But again, our intention around the large load tariff is to actually protect those customers. So there's a full agenda for sure.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“By expanding system capacity and capability, these investments extend our growth runway and strengthen our long-term growth profile.”
“And just last week, we set a new all-time peak of over 6,800 megawatts, exceeding the prior record set in August 2024 by roughly 180 megawatts.”
“And there's certainly a lot to be excited about, and our regulatory filings and policy efforts are designed to position the company for long-term success while making sure customers continue...”
Full figures
USD · ROIC.AI fundamentals (NYSE:OGE, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 711.9M | 752.6M | −5.4% | 741.6M | −4.0% |
| Gross profit | 355.5M | 415.9M | −14.5% | 480.5M | −26.0% |
| Operating income | 191.6M | 113.1M | +69.4% | 186.6M | +2.7% |
| Net income | 116.3M | 50.2M | +131.7% | 107.5M | +8.2% |
| EPS | 0.56 | 0.24 | +134.7% | 0.53 | +6.3% |
| P/E today 20.0 | — | 21.3 | — | 18.3 | — |
Topics
Most discussed now
- New As Sean stated in his remarks, OGE Energy believes that due to the network benefits of the fully regulated utility model...
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Faded since Q1 2026
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Latest announcements
Official filings, newest first.
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K
- Shareholder vote results; Other events · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Other events · SEC 8-K
- Director or officer change · SEC 8-K