OGE Energy Corp. Bottom Line Drops 50% In Q4

(RTTNews) - OGE Energy Corp. (OGE) announced a profit for fourth quarter that lost ground compared to the same period last year.

The company said its earnings dropped to $29.4 million, or $0.15 per share. This was lower than $58.4 million, or $0.29 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.23 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 15.0% to $447.1 million. This was down from $526.2 million last year.

OGE Energy Corp. earnings at a glance:

-Earnings (Q4): $29.4 Mln. vs. $58.4 Mln. last year. -Earnings Decline (Y-o-Y): -49.7% -EPS (Q4): $0.15 vs. $0.29 last year. -EPS Decline (Y-o-Y): -48.3% -Analysts Estimate: $0.23 -Revenue (Q4): $447.1 Mln vs. $526.2 Mln last year. -Revenue Change (Y-o-Y): -15.0%