OGE Energy Corp. (OGE) has reported a 65.11 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $183.60 million, or $0.92 a share in the quarter, compared with $111.20 million, or $0.55 a share for the same period last year.
Revenue during the quarter grew 3.35 percent to $743.90 million from $719.80 million in the previous year period. Gross margin for the quarter contracted 17 basis points over the previous year period to 63.73 percent. Total expenses were 65.41 percent of quarterly revenues, up from 65.16 percent for the same period last year. That has resulted in a contraction of 26 basis points in operating margin to 34.59 percent.
Operating income for the quarter was $257.30 million, compared with $250.80 million in the previous year period.
“Both OG&E and Enable performed well in the third quarter and are on plan for the year” said OGE Energy Corp. chairman, president and chief executive officer Sean Trauschke. “Our focus remains on executing and completing projects in the best interests of our customers in a safe and cost efficient manner.”
For fiscal year 2016, OGE Energy Corp. expects diluted earnings per share to be in the range of $1.72 to $1.83.
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