The following is a summary of the OGE Energy Corp. (OGE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• OGE Energy Corp. reported Q3 2024 earnings of $1.09 per share, including electric company earnings of $1.12 per share and a holding company loss of $0.03.

• Consolidated net income was approximately $219 million, compared to $242 million in Q3 2023.

• The decrease in net income year-over-year was primarily due to higher depreciation, interest expenses from capital investments, and operation and maintenance expenses.

Business Progress:

• The company highlighted exceptional load growth, notably an 8.4% weather-normalized load growth across all customer classes.

• OGE Energy is focusing on infrastructure investments including generation and transmission capacity to meet growing demand.

• Investments in renewable energy and efficiency through a new 5-year energy efficiency portfolio were emphasized.

• The company continues expansion and development activities in various sectors in Oklahoma and Arkansas, impacting the local economy positively.

• Mentioned future projects include solidifying the supply chain and driving developments in several data center projects.

• Achieved two milestones: centennials for Muskogee and Horseshoe Lake power generation sites which continue to evolve to meet modern energy demands.

Opportunities:

• Expansions in sectors like defense, manufacturing, and ongoing electrification across various sectors were highlighted as key drivers of future demand.

• Load growth across all customer classes, especially strong commercial growth, presents further opportunities for business expansion.

Risks:

• No explicit risks directly addressed; however, ongoing regulatory reviews and the need for approvals for rate and energy efficiency initiatives indicate potential regulatory and compliance risks.

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