OGE ENERGY Reports 24.7% Decrease in Total Revenue for Q2 2023
August 11, 2023
☀️Earnings Overview
For the second quarter of 2023, ending June 30, OGE ENERGY ($NYSE:OGE) reported total revenue of USD 605.0 million, a decrease of 24.7% compared to the same quarter a year prior. Net income for the quarter, however, increased by 20.9% to USD 88.4 million year over year.
Analysis
GoodWhale has conducted an analysis of OGE ENERGY‘s wellbeing, and based on the Star Chart, it’s clear that OGE ENERGY is strong in dividend and medium in growth, asset, and profitability. Its intermediate health score of 6/10 with regard to cashflows and debt indicates it is likely to sustain future operations in times of crisis. OGE ENERGY is classified as a ‘rhino’, meaning it has achieved moderate revenue or earnings growth. Given OGE ENERGY’s performance, investors who value stability and dividend income would likely be interested in investing in such a company. These investors may be particularly satisfied by the company’s strong dividend performance and its likely ability to survive through difficult economic times. Additionally, those seeking long-term capital appreciation may also find value in the company, given its moderate growth. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Oge Energy. More…
| Total Revenues | Net Income | Net Margin |
| 3.14k | 439.8 | 13.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Oge Energy. More…
| Operations | Investing | Financing |
| 1.29k | -743.5 | -553 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Oge Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.6k | 8.23k | 21.86 |
Key Ratios Snapshot
Some of the financial key ratios for Oge Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.3% | 6.5% | 22.6% |
| FCF Margin | ROE | ROA |
| 3.5% | 10.2% | 3.5% |
Peers
In the electric and natural gas utility industry in the United States, there are four companies that stand out as the largest competitors. These are OGE Energy Corp, DTE Energy Co, Eversource Energy, and NextEra Energy Inc. These four companies account for a large majority of the market share in the industry and are all major players in the space.
– DTE Energy Co ($NYSE:DTE)
DTE Energy Co is a holding company that engages in the utility operations through its subsidiaries. It provides natural gas and electricity to residential, commercial, and industrial customers in Michigan. The company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, and Corporate and Other.
– Eversource Energy ($NYSE:ES)
Eversource Energy is an American utility company that serves electric and natural gas customers in Connecticut, Massachusetts, and New Hampshire. The company has a market cap of 26.86B as of 2022 and a return on equity of 10.13%. Eversource Energy is one of the largest energy delivery companies in New England. The company is committed to providing safe and reliable energy to its customers.
– NextEra Energy Inc ($NYSE:NEE)
NextEra Energy Inc is a clean energy company with a focus on renewable energy. The company has a market cap of 153.59B as of 2022 and a return on equity of 6.09%. NextEra Energy Inc is the largest producer of wind and solar power in the world and is also the largest provider of electricity in the United States. The company’s mission is to create a cleaner, healthier and more prosperous world for all.
Summary
OGE Energy is a publicly traded company with a strong financials. For the Q2 of 2023, total revenue decreased 24.7% compared to the previous year, however net income increased 20.9%. This shows that the company is able to manage its costs during the economic downturn and improve its profitability. As the stock market remains volatile, investors may be attracted to OGE Energy due to its consistent performance and positive outlook.
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