UPDATE: Portland General Electric Posts Upbeat Q4 Earnings, Revenue Misses Views

reported better-than-expected earnings for the fourth quarter. The Portland, Oregon-based company posted quarterly earnings of $43 million, or $0.55 per share, compared to $47 million, or $0.59 per share, in the year-ago period. Its revenue gained 0.2% to $500 million. However, analysts were expecting earnings of $0.52 per share on revenue of $550.6 million. Total operating and maintenance expenses rose to $139 million from $117 million. Jim Piro, president and chief executive officer. "In addition to achieving excellent performance at our generating facilities, we delivered on the significant objective of completing two new major generating plants — on time and on budget. These plants will play an important role in meeting our customers' energy needs for years to come in a safe, sustainable and reliable manner." For the full year, PGE projects earnings of $2.20 to $2.35 per share, versus analysts' estimates of $2.28 per share. Portland General Electric shares fell 0.19% to close at $37.17 yesterday.