Portland General Electric (POR) reported 2025 adjusted earnings Tuesday of $3.05 per diluted share, down from $3.14 a year earlier.
Analysts polled by FactSet expected $3.15 per share.
Revenue for the year ended Dec. 31 was $3.58 billion, up from $3.44 billion a year earlier.
Analysts polled by FactSet expected $3.54 billion.
The company expects 2026 adjusted earnings to range from $3.33 to $3.53 per share. Analysts polled by FactSet are expecting $3.40 per share.
Portland also said it agreed to acquire certain energy assets in Washington state from PacifiCorp for $1.9 billion.
Under the deal, the company will acquire a natural gas plant, two wind facilities, 4,500 miles of transmission and distribution lines, and related electric utility operations.
The company said it has partnered with Manulife (MFC) Investment Management on the acquisition, with Manulife taking a minority stake in the assets.
Portland General Electric expects regulatory reviews to be completed about 12 months after submission.