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Portland General Electric's Q2 net income up on lower gas prices, expenses

Portland General Electric Co. on July 27 announced net income of $46 million, or 51 cents per share, in the second quarter of 2018, an increase from $32 million, or 36 cents per share, a year ago.

The results beat the S&P Capital IQ consensus normalized earnings estimate for the quarter of 41 cents per share by 10 cents. The company attributed the increase in earnings to lower natural gas prices and reduced plant maintenance expenses.

Revenues were unchanged at $449 million.

Looking ahead, the company raised its 2018 earnings guidance to $2.25 per share to $2.40 per share, from $2.10 per share to $2.25 per share.