Portland General Electric Co. (NYSE: POR) delivered better-than-expected third-quarter earnings, even as revenue came in slightly below expectations.

The Oregon-based utility reported adjusted earnings of $1.00 per diluted share, above the consensus forecast of $0.98. Revenue totaled $952 million, missing estimates of $975.7 million but rising from $929 million in the same quarter last year. Growth was driven by strong demand from data center customers, contributing to a 13% increase in industrial load from the previous quarter.

The company reaffirmed its 2025 adjusted earnings guidance of $3.13 to $3.33 per share, consistent with the analyst consensus of $3.23.

Portland General Electric said it was progressing with its resource procurement strategy and had requested regulatory acknowledgment for an updated shortlist of bidders under its 2023 All-Source Request for Proposal. The company expects to finalize contracts by early 2026, with new projects set to enter service by the end of 2027.