OGE Energy Corp. — Third Quarter 2026 Earnings Summary

Financial Performance:

• Consolidated net income for the three months ended September 30, 2026, was $316.2 million ($1.52 per diluted share), up from $231.3 million ($1.14 per diluted share) in the same period in 2025.
• Operating revenues for the quarter were $1,182.8 million, compared to $1,045.0 million in 2025.
• Fuel, purchased power, and direct transmission expenses were $441.2 million for the quarter, compared to $388.5 million in 2025.
• Operating expenses were $313.1 million for the quarter, down from $315.2 million in 2025.
• Interest expense was $63.0 million for the quarter, compared to $69.6 million in 2025.
• Income tax expense was $60.0 million for the quarter, compared to $45.5 million in 2025.
• Nine-month consolidated net income was $482.7 million ($2.32 per diluted share), compared to $401.5 million ($1.99 per diluted share) in 2025.
• Nine-month operating revenues were $2,647.3 million, compared to $2,534.3 million in 2025.
• OG&E contributed net income of $320.9 million ($1.54 per diluted share) for the quarter, up from $242.9 million ($1.20 per diluted share) in 2025.
• Other operations resulted in a loss of $4.7 million ($0.02 per diluted share) for the quarter, compared to a loss of $11.6 million ($0.06 per diluted share) in 2025.

Guidance and Future Outlook:

• OGE Energy expects to exceed its original 2026 earnings guidance range due to warmer-than-normal weather.
• The company now expects consolidated 2026 earnings between $2.62 and $2.68 per average diluted share.
• The updated guidance assumes normal weather for the remainder of the year.
• OG&E earnings exhibit significant seasonality based on year-over-year weather conditions.

Business Segments and Product Lines:

• OG&E, a regulated electric company, was the primary driver of earnings growth, with net income increasing due to stronger sales from significantly warmer weather.
• Other operations results were driven by higher income from energy-related investments and lower interest expense.
• Residential operating revenues for the quarter were $523.2 million, compared to $408.0 million in 2025.
• Commercial operating revenues for the quarter were $346.3 million, compared to $319.1 million in 2025.
• Industrial operating revenues for the quarter were $87.5 million, compared to $81.6 million in 2025.
• Oilfield operating revenues for the quarter were $79.3 million, compared to $73.1 million in 2025.
• Public authorities and street light operating revenues for the quarter were $99.3 million, compared to $87.7 million in 2025.
• System sales revenues for the quarter were $1,135.6 million, compared to $969.5 million in 2025.
• Integrated market revenues for the quarter were $29.3 million, compared to $23.6 million in 2025.
• Transmission revenues for the quarter were $12.7 million, compared to $38.8 million in 2025.
• Total MWh sales for the quarter were 11.1 million, compared to 9.9 million in 2025.
• The number of customers was 918,559 at the end of the quarter, compared to 910,464 in 2025.
• The weighted-average cost of total fuel and purchased power was 3.836 cents per kilowatt-hour for the quarter, compared to 3.732 cents in 2025.
• Cooling degree days were 1,897 for the quarter, compared to 1,288 in 2025.

Market and Competitive Landscape:

• The press release does not provide specific details on market share, competitive positioning, or specific market trends beyond weather impacts and general economic conditions listed in risk factors.

Risks and Challenges:

• Forward-looking statements are subject to risks including general economic conditions, inflation rates, and access to capital markets.
• Risks include the ability to obtain timely rate relief to recover capital expenditures, fuel costs, and operating costs.
• Potential impacts from competitive factors, including deregulation and the entry of additional competition.
• Risks related to demand changes due to cost-competitive technology advances like distributed generation and energy efficiency programs.
• Operational risks include unusual weather conditions, catastrophic weather-related damage, unscheduled generation outages, and supply chain disruptions.
• Regulatory risks include changes in federal or state legislation, environmental laws, and safety regulations.
• Risks associated with the creditworthiness of suppliers and customers, including large new customers in industries like cryptocurrency and data centers.
• Potential risks from cyberattacks, terrorism, and changes in accounting standards.

Management Commentary and Tone:

• Sean Trauschke, Chairman, President and CEO, expressed pride in the team for delivering reliable service through record-setting weather conditions.
• Management highlighted the execution of investments designed to strengthen the grid and position the company to support future growth across the region.

Other Key Points:

• OGE Energy Corp. will host an earnings and business update conference call on Wednesday, October 28, 2026, at 8 a.m. CDT.
• The conference call will be available through the Investor Center at www.oge.com.
• The company references its 2025 Form 10-K for other key factors and assumptions underlying its 2026 guidance.
• Condensed Consolidated Statements of Income and Financial and Statistical Data for Oklahoma Gas & Electric Company are attached to the release.