Portland General Electric (POR)

NYSEUtilitiesRegulated ElectricSnapshot 2026-10-23

$44.55-0.78%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Portland General Electric’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-0.5%

+10% or more+5%0%−5%−10% or less

3.58 → 3.56 EPS · FY ending Dec 31, 2027 · 7 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 7 to 7; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	927.67M
EPS	—	0.969
FY 2026 · Annual
Revenue	—	3.68B
EPS	—	3.324
Capital expenditure	$1.66B	—
Operating cash flow	$1B–$1.2B	—
FY 2027 · Annual
Revenue	—	3.97B
EPS	—	3.559

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain cash from operations near $268 million in Q1 2026	It maintains strong cash flow, with $268 million from operations in Q1 2026.	Under Pressure	cash from operations falls below $268 million in 2026-Q1	Cash from operations: $220M FY2026-Q2; GAAP. Published target: >= $268 million. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 31, 2026220,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Dividend per share increases to at least $0.53 in Q1 2026	Portland General Electric steadily raises its dividend, from $0.5 to $0.525 per share in one year.	Under Pressure	dividend per share fails to reach $0.53 by 2026-Q1	Dividend per share: $0.55 per share FY2026-Q2; GAAP. Published target: >= $0.53 per share. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 30, 20260.55125 USD/share · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 28080ed1-2298-4abd-b1c3-44707df529d4. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Achieve EPS near $3.39 in FY 2026	A primary condition in Portland General Electric's published investment case. The stated target is >= $3.39 per share.	Intact	EPS consensus falls below $3.39 for FY 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Sustain net income improvement above $45 million in Q1 2026	A supporting condition in Portland General Electric's published investment case. The stated target is >= $45 million.	Broken	net income falls below $45 million in 2026-Q1	Net income: $68M FY2026-Q2; GAAP. Published target: >= $45 million. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 30, 202668,000,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 28080ed1-2298-4abd-b1c3-44707df529d4. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$3.56

$3.58 → $3.56 · observed estimates

FY2027 revenue$3.97B

$3.99B → $3.97B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$3.58	$3,993,727,210	13 / 11
2026-07-25	$3.59	$3,993,727,210	13 / 11
2026-07-26	$3.59	$3,993,727,210	13 / 11
2026-07-27	$3.57	$3,983,999,453	8 / 8
2026-07-28	$3.59	$3,993,727,210	13 / 11
2026-07-29	$3.59	$3,993,727,210	13 / 11
2026-07-30	$3.59	$3,984,665,580	13 / 11
2026-07-31	$3.57	$3,974,031,663	7 / 8
2026-08-01	$3.57	$3,974,031,663	7 / 8
2026-08-02	$3.59	$3,984,665,580	13 / 11
2026-08-03	$3.57	$3,971,131,663	7 / 8
2026-08-04	$3.59	$3,982,029,220	13 / 11
2026-08-05	$3.59	$3,982,029,220	13 / 11
2026-08-06	$3.59	$3,982,029,220	13 / 11
2026-08-07	$3.57	$3,971,131,663	7 / 8
2026-08-08	$3.58	$3,962,151,040	13 / 11
2026-08-09	$3.58	$3,962,151,040	13 / 11
2026-08-10	$3.58	$3,962,151,040	13 / 11
2026-08-12	$3.57	$3,971,131,663	7 / 8
2026-08-13	$3.57	$3,971,131,663	7 / 8
2026-08-14	$3.57	$3,971,131,663	7 / 8
2026-08-15	$3.57	$3,971,131,663	7 / 8
2026-08-16	$3.57	$3,971,131,663	7 / 8
2026-08-17	$3.57	$3,971,131,663	7 / 8
2026-08-18	$3.57	$3,971,131,663	7 / 8
2026-08-19	$3.57	$3,971,131,663	7 / 8
2026-08-20	$3.57	$3,949,302,143	7 / 8
2026-08-21	$3.57	$3,949,302,143	7 / 8
2026-08-22	$3.58	$3,952,702,143	7 / 8
2026-08-23	$3.58	$3,952,702,143	7 / 8
2026-08-24	$3.58	$3,952,702,143	7 / 8
2026-08-25	$3.58	$3,952,702,143	7 / 8
2026-08-26	$3.58	$3,952,702,143	7 / 8
2026-08-27	$3.58	$3,952,702,143	7 / 8
2026-08-28	$3.58	$3,952,702,143	7 / 8
2026-08-29	$3.58	$3,966,022,748	7 / 8
2026-08-30	$3.58	$3,966,022,748	7 / 8
2026-08-31	$3.58	$3,966,022,748	7 / 8
2026-09-01	$3.58	$3,966,022,748	7 / 8
2026-09-02	$3.58	$3,966,022,748	7 / 8
2026-09-03	$3.58	$3,966,022,748	7 / 8
2026-09-04	$3.58	$3,966,022,748	7 / 8
2026-09-05	$3.58	$3,966,022,748	7 / 8
2026-09-06	$3.58	$3,966,022,748	7 / 8
2026-09-07	$3.58	$3,966,022,748	7 / 8
2026-09-08	$3.58	$3,966,022,748	7 / 8
2026-09-09	$3.58	$3,966,022,748	7 / 8
2026-09-10	$3.58	$3,966,022,748	7 / 8
2026-09-11	$3.58	$3,966,022,748	7 / 8
2026-09-12	$3.58	$3,966,022,748	7 / 8
2026-09-13	$3.58	$3,966,022,748	7 / 8
2026-09-14	$3.58	$3,966,022,748	7 / 8
2026-09-15	$3.58	$3,966,022,748	7 / 8
2026-09-16	$3.58	$3,966,022,748	7 / 8
2026-09-17	$3.58	$3,966,022,748	7 / 8
2026-09-18	$3.58	$3,966,022,748	7 / 8
2026-09-19	$3.58	$3,966,022,748	7 / 8
2026-09-20	$3.58	$3,966,022,748	7 / 8
2026-09-21	$3.58	$3,966,022,748	7 / 8
2026-09-22	$3.58	$3,966,022,748	7 / 8
2026-09-23	$3.58	$3,966,022,748	7 / 8
2026-09-24	$3.58	$3,966,022,748	7 / 8
2026-09-25	$3.58	$3,966,022,268	7 / 8
2026-09-26	$3.58	$3,966,022,268	7 / 8
2026-09-27	$3.58	$3,966,022,268	7 / 8
2026-09-28	$3.58	$3,966,022,268	7 / 8
2026-09-29	$3.58	$3,966,022,268	7 / 8
2026-09-30	$3.58	$3,966,022,268	7 / 8
2026-10-01	$3.58	$3,968,122,748	7 / 8
2026-10-02	$3.58	$3,968,122,748	7 / 8
2026-10-03	$3.58	$3,968,122,748	7 / 8
2026-10-04	$3.58	$3,968,122,748	7 / 8
2026-10-05	$3.58	$3,968,122,748	7 / 8
2026-10-06	$3.58	$3,968,122,748	7 / 8
2026-10-07	$3.58	$3,971,938,748	7 / 8
2026-10-08	$3.58	$3,971,938,748	7 / 8
2026-10-09	$3.58	$3,971,938,748	7 / 8
2026-10-10	$3.58	$3,971,938,748	7 / 8
2026-10-11	$3.58	$3,971,938,748	7 / 8
2026-10-12	$3.58	$3,971,938,748	7 / 8
2026-10-13	$3.58	$3,972,255,820	7 / 8
2026-10-14	$3.58	$3,972,188,065	7 / 8
2026-10-15	$3.58	$3,972,188,065	7 / 8
2026-10-16	$3.58	$3,970,588,217	8 / 8
2026-10-17	$3.58	$3,970,588,217	8 / 8
2026-10-18	$3.58	$3,970,588,217	7 / 8
2026-10-19	$3.58	$3,970,588,217	7 / 8
2026-10-20	$3.57	$3,970,588,217	7 / 8
2026-10-21	$3.57	$3,970,588,537	7 / 8
2026-10-22	$3.56	$3,967,705,657	7 / 8
2026-10-23	$3.56	$3,967,705,657	7 / 8
2026-10-24	$3.56	$3,967,705,657	7 / 8

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	3	8	2
2026-06-01	3	8	2
2026-07-01	3	8	2
2026-08-01	4	9	2
2026-09-01	4	8	1
2026-10-01	4	8	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 4 Buy / Strong Buy · 8 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 2 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

BTIGOct 20

$57.00New observation · no comparable prior

BMO CapitalSep 30 · prior Aug 4

$52.00 → $47.00-9.6%

$0$31.35$62.70

0 raises · 1 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain cash from operations near $268 million in Q1 2026Published status: Under Pressure
Dividend per share increases to at least $0.53 in Q1 2026Published status: Under Pressure
Achieve EPS near $3.39 in FY 2026Direct metric needs a verified mapping
Sustain net income improvement above $45 million in Q1 2026Published status: Broken

Next proof point

Oct 29, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

0.8%Typical daily move · historical

Downside history

-19.8%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Portland General Electric outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

POR is a regulated utility with a steady-earnings profile, though its near-term results have been uneven. The long-term thesis is in a watch state: earnings quality is robust, but recent performance trails its industry cohort and the risk label has risen to moderate.

What's priced into Portland General Electric

Valuation is tagged as justified, with low signs of fragility, meaning the evidence does not point to unusually brittle expectations. POR is described as cheap versus peers, but the expectations gap is negative, so that relative valuation does not by itself resolve the recent performance concerns.

What the fundamentals likely do

Near term, management has reaffirmed earnings guidance, increased the dividend, and reported higher operating income from the first to the second quarter of 2026. Cost control is on track, while regulatory proceedings for the Washington utility acquisition continue; the acquisition remains a mixed execution item. Recent results include an earnings miss in May and an in-line report in July, while misses and declining earnings surprises remain a risk.

What Portland General Electric hinges on

The multi-year thesis depends partly on regulatory approval and whether the Washington acquisition delivers the expected earnings and dividend benefits. Near term, a guidance cut would be a meaningful negative; lower interest rates or continued strength among major utility peers would support the sector backdrop.