Filing Flows › Portland General Electric (POR) › Q4 2025
Portland General Electric (POR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Portland General Electric (POR) reported revenue of $889M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and -7% from the quarter before. Operating margin was 10.7%, net earnings $41.0M (4.6% of revenue).
Portland General Electric, Q4 2025: revenue $889M (+8% year over year), operating margin 10.7%, net earnings $41.0M, operating cash flow $148M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $889M | -7% | +8% |
| Operating profit | $95.0M | -45% | +8% |
| Net earnings | $41.0M | -60% | +8% |
| Operating cash flow | $148M | -63% | -13% |
What changed
Revenue was $889.0M in Q4 2025, up 8% year over year and down 7% from the previous quarter.
Operating profit was $95.0M, a 10.7% margin (unchanged year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 11% margin then. Total costs grew 8% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $41.0M, up 8% year over year. The effective tax rate was -2.5%.
Operating cash flow was $148.0M (down 13% year over year), 361% of net earnings. Non-cash charges added back $151.0M of depreciation and amortization. Working capital and other items used $44.0M. Capital expenditures of $290.0M exceeded it, leaving free cash flow of −$142.0M.
Questions
What was Portland General Electric's revenue in the fourth quarter 2025?
Portland General Electric (POR) reported revenue of $889M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and -7% from the quarter before.
Was Portland General Electric profitable in the fourth quarter 2025?
Operating profit was $95.0M (10.7% of revenue) and net earnings $41.0M.