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Portland General beats Street estimates with Q4 net income, sets 2021 guidance from SNL Energy Finance Daily Portland General beats Street estimates with Q4 net income, sets 2021 guidanceByline: Selene Balasta Portland General Electric Co. on Feb. 19 reported fourth-quarter 2020 GAAP net income of $52 million, or 57 cents share, down from $61 million, or 68 cents per share, in the same quarter in 2019. The S&P Capital IQ consensus GAAP EPS estimate for the quarter was 42 cents. PGE booked full-year 2020 non-GAAP net income of $247 million, or $2.75 per share, after adjusting for the impact of the energy trading losses. The S&P Capital IQ consensus normalized EPS estimate for 2020 was $1.70. Full-year 2020 GAAP net income totaled $155 million, or $1.72 per share, a drop from $214 million, or $2.39 per share, in 2019. The company generated total revenues of $2.15 billion in 2020, an increase from $2.12 billion a year ago. The increase was due to higher energy demand, which was partially offset by impacts associated with COVID-19. PGE initiated full-year 2021 earnings guidance of $2.55 per share to $2.70 per share. |
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