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OGE Energy (OGE) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · OGE Energy (OGE) Q3 2026 earnings results →

Q3 2026 Revenue up 13% year over year to $1.2B · 27¢ of every $1 of revenue kept as net profit · operating margin 36.2%

OGE Energy made $1.2B in Q3 2026 (+13% Y/Y). Operating margin 36.2%, net earnings $316M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.

Revenue$1.2B
Year over year+13%
Operating margin36.2%
Net earnings$316M
Operating cash flow$383M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.2B in Q3 2026, up 13% year over year.

Operating profit was $0.43B, a 36.2% margin (up 3.6 points year over year). Of the extra revenue versus Q3 2025, 63% reached operating profit, above the 33% margin then. Total costs grew 7% against revenue growth of 13%. The fastest-growing cost line was Cost of revenue (+14%). Net earnings were $0.32B, up 37% year over year. The effective tax rate was 15.9%.

Operating cash flow was $0.38B (down 4% year over year), 121% of net earnings. Non-cash charges added back $0.15B of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.28B left free cash flow of $0.10B.

Quarterly history

OGE Energy revenue by quarterOGE Energy revenue by quarter$748MQ1 2025$742MQ2 2025$1.0BQ3 2025$726MQ4 2025$753MQ1 2026$712MQ2 2026$1.2BQ3 2026
OGE Energy net earnings by quarterOGE Energy net earnings by quarter$62.7MQ1 2025$108MQ2 2025$231MQ3 2025$69.2MQ4 2025$50.2MQ1 2026$116MQ2 2026$316MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 28, 2026$1.2B+13%36.2%$316M$383M
Q2 202610-QJul 29, 2026$712M-4%26.9%$116M$336M
Q1 202610-QApr 29, 2026$753M+0.7%15.0%$50.2M$176M
Q4 202510-KFeb 18, 2026$726M-5%19.0%$69.2M$385M
Q3 202510-QOct 29, 2025$1.0B+8%32.7%$231M$398M
Q2 202510-QJul 30, 2025$742M+12%25.2%$108M$339M
Q1 202510-QApr 30, 2025$748M+25%17.8%$62.7M$15.9M

Charts

OGE Energy: revenue growth, year over year and quarter over quarterOGE Energy: revenue growth, year over year and quarter over quarterY/YQ/Q+25%Q1 2025+12%-1%Q2 2025+8%+41%Q3 2025-5%-31%Q4 2025+1%+4%Q1 2026-4%-5%Q2 2026+13%+66%Q3 2026
Latest (Q3 2026): Y/Y +13%, Q/Q +66%.
OGE Energy: where the cash came from (+) and went (−), TTM to Q1 2026OGE Energy: where the cash came from (+) and went (−), TTM to Q1 2026Operating cash flow$1.3BCapital spending−$1.1BDividends−$344MShares issued$209MOther financing−$111MOther investing−$74.5MNet borrowing (+) / repaid (−)$69.4MCash drawn (+) / kept (−)$26.7M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
OGE Energy: profit against cash, quarter by quarterOGE Energy: profit against cash, quarter by quarterNet incomeOperating cash flow$102M$253MQ2 2024$219M$347MQ3 2024$102M$130MQ4 2024$62.7M$15.9MQ1 2025$108M$339MQ2 2025$231M$398MQ3 2025$69.2M$385MQ4 2025$50.2M$176MQ1 2026
Latest (Q1 2026): Net income $50.2M, Operating cash flow $176M.
OGE Energy: diluted shares by fiscal yearOGE Energy: diluted shares by fiscal year200MFY2020200MFY2021201MFY2022201MFY2023201MFY2024202MFY2025
+1.2% since FY2020: more shares outstanding (issuance, stock pay).
OGE Energy in its industry: growth against margin (53 companies, SIC 4911)OGE Energy in its industry: growth against margin (53 companies, SIC 4911)revenue growth, year over year →↑ operating marginmedian +10%median 24%Southern Power CoSONEEFlorida Power & Light CoCEGNRGAEP Texas Inc.VSTDAEPEIXFirstEnergy Pennsylvania Electric CoETI-PDTEFEEAITVEETRPublic Service Co of New HampshirePPLOncor Electric Delivery Co LLCCNPPNWWELPPTLNPuget Energy IncHEPORHawaiian Electric Co IncTampa Electric CoBasin Electric Power CooperativeTXNMIDAOglethorpe Power CorpIpalco Enterprises, Inc.Tucson Electric Power CoClearway Energy LLCCWENFirstEnergy Transmission, LLCTri-State Generation & Transmission Association, Inc.ITC Holdings Corp.BKHCleco Corporate Holdings LLCOld Dominion Electric CooperativeCleco Power LLCXIFROTTRORAHNRGGreenbacker Renewable Energy Co LLCSPRUOPTTOGE (+13%, 36%)
Electric Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About OGE Energy

OGE Energy is a holding company whose primary investment provides electricity in Oklahoma and western Arkansas. OGE Energy's electric company operations are conducted through its wholly-owned subsidiary, OG&E, which generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas and are reported through OGE Energy's electric company business segment. OG&E's rates are subject to regulation by the OCC, the APSC and the FERC. OG&E was incorporated in 1902 under the laws of the Oklahoma Territory and is the largest electric company in Oklahoma, with a franchised service territory that includes Fort Smith, Arkansas and the surrounding communities. OG&E sold its retail natural gas business in 1928 and is no longer engaged in the natural gas distribution business.

In its own words, from its 10-K, filed Feb 18, 2026.

OGE Energy against its Electric Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +13%. Operating margin: 36.2% against the peers' median 29.7%.

CompanyQuarterRevenueY/YOp. margin
OGE OGE EnergyQ3 2026$1.2B+13%36.2%
Southern PowerQ3 2026$8.8B+13%33.9%
NEE NextEra EnergyQ3 2026$8.1B+2%32.4%
Florida Power & LightQ2 2026$7.5B+12%29.7%
CEG Constellation EnergyQ2 2026$7.5B+23%7.7%
NRG NRG EnergyQ2 2026$7.5B+11%13.0%
AEP TexasQ3 2026$6.8B+14%26.5%
VST VistraQ3 2026$6.3B+28%26.9%
D Dominion EnergyQ3 2026$5.6B+24%32.8%

Source: OGE Energy 10-Q on SEC EDGAR · CIK 1021635 · Electric Services

Guidance and outlook

OGE Energy: what its forward-looking statements are about (10-Q filed 2026-10-28)OGE Energy: what its forward-looking statements are about (10-Q filed 2026-10-28)Costs1Demand1
2 statements; tone +0.00 (−1 all cautious, +1 all confident); 0 hedged.
OGE Energy: outlook statements against the filing beforeOGE Energy: outlook statements against the filing beforeUpdated1Confident1Cautious1

13F: who owns OGE and who is buying

Largest holders of OGE (13F)Largest holders of OGE (13F)BlackRock$1.3BVanguard Group$918MVanguard Portfolio Management LLC$519MVanguard Capital Management LLC$453MState Street$352MClearbridge Investments, LLC$321MBoston Partners$277MClearBridge Investments$250MAQR Capital Management LLC$245MT. Rowe Price Investment Manageme…$202M
Funds' net buying of OGE by quarter (13F)Funds' net buying of OGE by quarter (13F)−$125M2024-09$112M2024-12$61.3M2025-03$8.1M2025-06$249M2025-09$570M2025-12−$173M2026-03$198M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on OGE

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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