OGE Energy Q1 Profit More Than Doubles, Beats View - Quick Facts

(RTTNews) - OGE Energy Corp. (OGE), the parent company of Oklahoma Gas and Electric Co., reported first-quarter net income attributable to the company of $49.3 million or $0.25 per share, up from $23.1 million or $0.12 per share in the same period last year.

On average, 3 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.23 for the quarter. Analysts' estimates typically exclude one-time items.

The company noted that the impact of Enable Midstream partnership drove higher earnings.

However, total operating revenues for the quarter declined to $560.4 million from $901.4 million in the prior-year period.

Looking ahead to fiscal 2014, the company maintained its outlook for net income between $388 million to $411 million, or $1.94 to $2.06 per share. Analysts expect the company to earn $2.00 per share for the year.