Investor Presentaiton
Long-term financial performance
Net income, earnings per share, and ROE
GAAP
Adjusted
$2.75(1)
$2.72
$2.75(2)
$2.60(2)
$2.89(2)(5)
$2.74(2)(5)
EPS
(diluted)
$2.37
$2.39
GAAP net income
$92
(dollars in millions)
Non-GAAP net income
(dollars in millions)
GAAP Guidance
(diluted)
Non-GAAP Guidance (5)
(diluted)
$1.72(1)
$244
$212
$214
$155
2018
2019
2020
2021
Accounting ROE(4)
8.6%
8.4%
6.0%
9.2%
Allowed ROE
9.5%
9.5%
9.5%
9.5%
Long-term
5% to 7% (2) GAAP
earnings growth from
2022 adjusted base year
2022E(2)
8.5% -9.0% GAAP (2)(3)
8.9% -9.4% Adjusted (2)(3)(5)
9.5%
(1) In 2020 GAAP net income was $155 million, or $1.72 per diluted share. After adjusting for the impacts of the Energy Trading Losses, non-GAAP net income was $247 million, or $2.75 per diluted share. The
effect of the energy trading losses was $1.03 per diluted share
(2) Estimates and projections are based on assumptions and there can be no assurance regarding the amount of future earnings consistent with earnings guidance and earnings growth guidance
(3) 2022E Accounting ROE calculated based on Non-GAAP adjusted earnings guidance range of $2.74 to $2.89 (See slides 33 and 34 for important information about non-GAAP measures, guidance, and
reconciliations)
(4) Return on average equity
(5) See slides 33 and 34 for important information about non-GAAP measures, guidance, and reconciliations
PGE
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