OGE ENERGY CORP.

For the period ended Mar 31, 2026. Filed Apr 29, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed Apr 29, 2026

OGE$50.66+0.0%Stored close · as of Nov 9, 2026

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Contents

OGE Energy Corp. Condensed Consolidated Financial Statements

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended
	March 31,
(In millions, except per share data)	2026	2025
OPERATING REVENUES
Revenues from contracts with customers	$736.7	$741.1
Other revenues	15.9	6.6
Operating revenues	752.6	747.7
FUEL, PURCHASED POWER AND DIRECT TRANSMISSION EXPENSE	336.7	324.0
OPERATING EXPENSES
Other operation and maintenance	136.5	121.8
Depreciation and amortization	136.4	137.4
Taxes other than income	29.9	31.2
Operating expenses	302.8	290.4
OPERATING INCOME	113.1	133.3
OTHER INCOME (EXPENSE)
Allowance for equity funds used during construction	7.5	7.0
Other net periodic benefit expense	(2.6)	(2.6)
Other income	13.6	7.0
Other expense	(12.3)	(4.5)
Net other income	6.2	6.9
INTEREST EXPENSE
Interest on long-term debt	66.3	61.4
Allowance for borrowed funds used during construction	(3.6)	(4.5)
Interest on short-term debt and other interest charges	(2.8)	10.4
Interest expense	59.9	67.3
INCOME BEFORE TAXES	59.4	72.9
INCOME TAX EXPENSE	9.2	10.2
NET INCOME	$50.2	$62.7
BASIC AVERAGE COMMON SHARES OUTSTANDING	206.3	201.2
DILUTED AVERAGE COMMON SHARES OUTSTANDING	207.2	201.9
BASIC EARNINGS PER AVERAGE COMMON SHARE	$0.24	$0.31
DILUTED EARNINGS PER AVERAGE COMMON SHARE	$0.24	$0.31

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Three Months Ended
	March 31,
(In millions)	2026	2025
Net income	$50.2	$62.7
Other comprehensive income (loss), net of tax:
Pension Plan and Restoration of Retirement Income Plan:
Amortization of prior service cost, net of tax of $0.1 and $0.1, respectively	—	—
Amortization of deferred net loss, net of tax of $0.0 and $0.0, respectively	0.1	0.1
Postretirement benefit plans:
Amortization of deferred net gain, net of tax of $(0.0) and $(0.1), respectively	(0.1)	—
Other comprehensive income, net of tax	—	0.1
Comprehensive income	$50.2	$62.8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
(In millions)	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$50.2	$62.7
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	136.4	137.4
Deferred income taxes and other tax credits, net	7.6	0.7
Allowance for equity funds used during construction	(7.5)	(7.0)
Stock-based compensation expense	3.8	3.0
Regulatory assets	(6.1)	(9.5)
Regulatory liabilities	0.2	0.2
Other assets	1.0	(4.7)
Other liabilities	(18.0)	11.2
Change in certain current assets and liabilities:
Accounts receivable and accrued unbilled revenues, net	51.3	(48.8)
Income taxes receivable	1.6	—
Fuel, materials and supplies inventories	2.4	13.0
Fuel recoveries	28.2	(59.7)
Other current assets	(6.5)	0.3
Accounts payable	(45.9)	(59.4)
Other current liabilities	(23.2)	(23.5)
Net cash provided from operating activities	175.5	15.9
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (less allowance for equity funds used during construction)	(266.8)	(249.5)
Cost of removal and other	(16.5)	(14.2)
Net cash used in investing activities	(283.3)	(263.7)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt	(0.6)	(0.1)
Payment of long-term debt	—	(32.4)
Increase in short-term debt	200.4	297.4
Increase in long-term borrowings under revolver	—	100.0
Dividends paid on common stock	(89.1)	(86.6)
Proceeds (costs) from issuance of common stock	2.7	3.1
Cash paid for employee equity-based compensation	(5.6)	(7.3)
Net cash provided from financing activities	107.8	274.1
NET CHANGE IN CASH AND CASH EQUIVALENTS	—	26.3
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	0.2	0.6
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$0.2	$26.9

CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31,	December 31,
(In millions)	2026	2025
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$0.2	$0.2
Accounts receivable, less reserve of $4.4 and $4.1, respectively	304.8	347.8
Accrued unbilled revenues	67.9	76.2
Income taxes receivable	35.7	37.3
Fuel inventories	108.8	112.0
Materials and supplies, at average cost	212.9	212.7
Other	78.2	71.7
Total current assets	808.5	857.9
OTHER PROPERTY AND INVESTMENTS
Other	128.8	129.4
Total other property and investments	128.8	129.4
PROPERTY, PLANT AND EQUIPMENT
In service	17,409.6	17,203.0
Construction work in progress	744.3	744.9
Total property, plant and equipment	18,153.9	17,947.9
Less: accumulated depreciation	5,243.1	5,217.5
Net property, plant and equipment	12,910.8	12,730.4
DEFERRED CHARGES AND OTHER ASSETS
Regulatory assets	555.9	557.2
Other	68.1	95.6
Total deferred charges and other assets	624.0	652.8
TOTAL ASSETS	$14,472.1	$14,370.5

CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

	March 31,	December 31,
(In millions)	2026	2025
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term debt	$492.4	$292.0
Accounts payable	282.9	350.6
Dividends payable	87.7	87.6
Customer deposits	125.3	127.2
Accrued taxes	32.8	53.0
Accrued interest	82.6	68.8
Accrued compensation	33.4	54.3
Fuel clause over recoveries	55.3	27.1
Other	39.5	33.5
Total current liabilities	1,231.9	1,094.1
LONG-TERM DEBT	5,369.6	5,369.2
DEFERRED CREDITS AND OTHER LIABILITIES
Accrued benefit obligations	153.1	164.4
Deferred income taxes	1,511.2	1,489.3
Deferred investment tax credits	9.6	9.8
Regulatory liabilities	941.9	957.1
Other	315.6	309.3
Total deferred credits and other liabilities	2,931.4	2,929.9
Total liabilities	9,532.9	9,393.2
COMMITMENTS AND CONTINGENCIES (NOTE 12)
STOCKHOLDERS' EQUITY
Common stockholders' equity	1,379.3	1,378.4
Retained earnings	3,562.5	3,601.5
Accumulated other comprehensive loss, net of tax	(2.6)	(2.6)
Total stockholders' equity	4,939.2	4,977.3
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$14,472.1	$14,370.5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

	Common Stock
(In millions)	Shares	Value	Premium on Common Stock	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total
Balance at December 31, 2025	206.1	$2.1	$1,376.3	$3,601.5	$(2.6)	$4,977.3
Net income	—	—	—	50.2	—	50.2
Other comprehensive income, net of tax	—	—	—	—	—	—
Dividends declared on common stock ($0.425 per share)	—	—	—	(89.2)	—	(89.2)
Issuance of common stock	0.1	—	2.7	—	—	2.7
Stock-based compensation	0.2	—	(1.8)	—	—	(1.8)
Balance at March 31, 2026	206.4	$2.1	$1,377.2	$3,562.5	$(2.6)	$4,939.2
Balance at December 31, 2024	201.0	$2.0	$1,165.9	$3,475.7	$(2.7)	$4,640.9
Net income	—	—	—	62.7	—	62.7
Other comprehensive income, net of tax	—	—	—	—	0.1	0.1
Dividends declared on common stock ($0.42125 per share)	—	—	—	(86.8)	—	(86.8)
Issuance of common stock	0.1	—	3.1	—	—	3.1
Stock-based compensation	0.2	—	(4.3)	—	—	(4.3)
Balance at March 31, 2025	201.3	$2.0	$1,164.7	$3,451.6	$(2.6)	$4,615.7

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