Earnings release
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News _ OKLAHOMA CITY - OGE Energy Corp. ( NYSE : OGE ) , the parent company of Oklahoma Gas and Electric Company ( " OG & E " ) , and holder of 25.5 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP ( “ Enable ” ) , today reported earnings of $ 1.26 per diluted share for the three months ended September 30 , 2021 compared to earnings of $ 0.89 per diluted share for the third quarter of 2020 . • • • OG & E , the regulated electric utility , contributed earnings of $ 1.12 per share in the third quarter , compared with earnings of $ 1.00 per share in the third quarter last year Natural Gas Midstream Operations contributed earnings of $ 0.15 per share , compared with earnings of $ 0.05 per share in the third quarter last year The holding company reported a loss of $ 0.01 per share compared to a loss of $ 0.16 per share in the third quarter of 2020. The holding company's results in the year - ago quarter were impacted by the elimination of a consolidating tax adjustment as a result of the 2020 impairment related to Enable . " We are very pleased to narrow our 2021 utility earnings per share guidance thanks to strong performance throughout the year , ” said Sean Trauschke , OGE Energy Corp. Chairman , President and CEO . " We continue our successful efforts to meet commercial expansion with affordable service . Our focus on customers is delivering great results and creating new opportunities for even more growth in the future . ” Third Quarter 2021 OGE Energy Corp.'s net income was $ 252 million or $ 1.26 per share in the third quarter , compared to $ 177 million or $ 0.89 per share in the year - ago quarter . OG & E net income was approximately $ 224 million or $ 1.12 per share in the third quarter , compared to $ 199 million or $ 1.00 per share in the comparable quarter last year . Higher quarterly results were primarily due to favorable weather and the recovery of increased infrastructure investments supporting customer growth , partially offset by higher depreciation from our infrastructure investments . Natural Gas Midstream Operations contributed net income to OGE Energy Corp. of $ 31 million or $ 0.15 per share in the third quarter , compared to $ 10 million or $ 0.05 per share in the same period in 2020. The increase in net income was primarily a result of higher commodity prices and higher natural gas gathering and processing volumes . In addition , Enable Midstream issued cash distributions to OGE Energy Corp. of approximately $ 18 million in each of the third quarters of 2021 and 2020 . 2021 Outlook The Company narrows its 2021 OG & E earnings guidance to between $ 1.79 to $ 1.83 per average diluted share . As indicated in its 2020 Form 10 - K , OGE Energy Corp. did not issue 2021 consolidated earnings guidance due to Enable not issuing an earnings outlook as a result of the proposed merger between Enable and Energy Transfer . See OGE Energy Corp.'s 2020 Form 10 - K for other key factors and assumptions underlying its 2021 guidance . Conference Call Webcast