OGE Energy Q2 Profit Declines

(RTTNews) - OGE Energy Corp. (OGE) Thursday announced a decline in second quarter net profit to $71.5 million from $87.5 million last year. On a per share basis, earnings declined to $0.35 from $0.44 per share a year ago.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.41 per share. Analysts estimates usually exclude special items.

The parent company of Oklahoma Gas and Electric Company reported slight increase in $551.4 million from $549.9 million in the prior year. Wall Street was looking for $569.62 million.

The company reaffirmed its full year 2016 outlook with OG&E projected to earn $1.44 to $1.50 per share. OGE Energy consolidated earnings guidance for the full year is $1.72 to $1.83 per average share. Analysts expects $1.77 per share on revenue of $2.39 billion.