OGE jumps after Q1 results, guidance reaffirmed, and Google data-center contract filings teased
OGE•OGE Energy shares rose after the company reported first-quarter 2026 results on April 29 and reiterated full-year earnings guidance of $2.38–$2.48 per share (midpoint $2.43). Investors focused on unchanged outlook and planned filings for long-term special contracts to serve multiple Google data centers in Oklahoma.
1. What’s moving the stock today
OGE Energy is trading higher as investors digest the company’s first-quarter 2026 earnings update released April 29, 2026, with management keeping its full-year 2026 EPS guidance unchanged at $2.38 to $2.48 (midpoint $2.43). The reaffirmed outlook appears to be offsetting a softer Q1 driven by mild weather, while management commentary highlighted upcoming filings of long-term special contracts tied to multiple previously announced Google data centers in Oklahoma.
2. The numbers investors are keying on
OGE reported first-quarter 2026 earnings of $0.24 per diluted share, down from $0.31 in the prior-year quarter. The regulated electric utility subsidiary (OG&E) contributed $0.28 per diluted share in Q1 versus $0.35 a year ago, with the company attributing the year-over-year decline primarily to mild weather and higher operation and maintenance expense, partially offset by lower depreciation and interest expense on assets placed in service.
3. Why the outlook and data-center load narrative matter
For a regulated utility, the market often prioritizes the durability of the annual plan over quarter-to-quarter volatility, especially when weather is a major swing factor. By reiterating 2026 guidance and signaling near-term regulatory filings for long-term special contracts to serve Google data centers, OGE is reinforcing a forward view centered on load growth and multi-year infrastructure investment rather than a single quarter’s weather-driven earnings softness.
