PORTLAND — Portland General Electric Co. (POR) on Friday reported second-quarter net income of $39 million.
On a per-share basis, the Portland, Oregon-based company said it had profit of 39 cents. Earnings, adjusted for non-recurring costs, came to 44 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The electric utility posted revenue of $648 million in the period.
Portland General Electric expects full-year earnings in the range of $2.60 to $2.75 per share.
