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Oge Energy Corp. (OGE) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Oge Energy Corp.

CIK: 1021635 Ticker: OGE
Exhibit 99.01

OGE Energy Corp. reports second quarter results

OKLAHOMA CITY - OGE Energy Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric Company ("OG&E") and holder of 25.5 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners, LP (NYSE: ENBL), today reported earnings of $0.50 per diluted share for the three months ended June 30, 2019, compared to $0.55 per diluted share for the second quarter of 2018.

OG&E, a regulated electric utility, contributed earnings of $0.37 per share in the second quarter, compared with earnings of $0.46 per share in the second quarter last year.
Natural Gas Midstream Operations contributed earnings of $0.13 per share compared with earnings of $0.11 per share in the second quarter last year.
The holding company and other operations posted breakeven results in the second quarter, compared with a loss of $0.02 per share in the second quarter last year.

“Both of our businesses performed well in the second quarter and are on plan for the year,” said Sean Trauschke, OGE Energy Chairman, President and CEO. “We continue to focus on all aspects of our operations creating value for our customers, communities and shareholders.”

Discussion of Second Quarter 2019
OGE Energy's net income was approximately $100 million in the second quarter, compared to approximately $111 million in the year-ago quarter.

OG&E's net income was approximately $75 million in the second quarter, compared to approximately $92 million in the comparable quarter last year. The primary driver for the decrease in net income was lower gross margin as a result of milder weather.

Natural Gas Midstream Operations contributed net income to OGE Energy Corp. of approximately $27 million for the second quarter of 2019 compared to net income of approximately $22 million for the same period in 2018. The increase was in part due to higher volumes in the gathering and processing segments. Enable Midstream issued cash distributions to OGE of approximately $35 million in each of the second quarters of 2019 and 2018. In addition, Enable announced an increase in the quarterly distribution rate from $0.3180 to $0.3305 per common unit payable August 27, 2019.

2019 Earnings Outlook
The Company reaffirms its 2019 consolidated earnings guidance between approximately $412 million and $442 million of net income, or $2.05 to $2.20 per average diluted share. More information regarding the Company’s 2019 earnings guidance is contained in the Company's 2018 Form 10-K and Form 10-Q for the period ending June 30, 2019, as filed with the Securities and Exchange Commission.

Conference Call Webcast
OGE Energy will host a conference call for discussion of the results on Thursday, August 8, at 8 a.m. CDT. The conference will be available through www.ogeenergy.com. OGE Energy Corp. is the parent company of OG&E, a regulated electric utility with approximately 854,000 customers in Oklahoma and western Arkansas.  In addition, OGE holds a 25.5 percent limited partner interest and a 50 percent general partner interest of Enable Midstream, created by the merger of OGE's Enogex LLC midstream subsidiary and the pipeline and field services businesses of Houston-based CenterPoint Energy.

Non-GAAP Financial Measures
OG&E has included in this release the non-GAAP financial measure Gross Margin. Gross Margin is defined by OG&E as operating revenues less cost of sales. Cost of sales, as reflected on the income statement, includes fuel, purchased power and certain transmission expenses. Gross margin is a non-GAAP financial measure because it excludes depreciation and amortization and other operation and maintenance expenses. Expenses for fuel and purchased power are recovered through fuel adjustment clauses, and as a result, changes in these expenses are offset in operating revenues with no impact on net income. OG&E believes gross margin provides a more meaningful basis for evaluating its operations across periods than operating revenues because gross margin excludes the revenue effect of fluctuations in these expenses. Gross margin is used internally to measure performance against budget and in reports for management and the Board of Directors. OG&E's definition of gross margin may be different from similar terms used



The following information was filed by Oge Energy Corp. (OGE) on Thursday, August 8, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Oge Energy Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Oge Energy Corp.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) Parenthetical
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) Parenthetical
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) Parenthetical
Condensed Consolidated Statements Of Income (Unaudited)
Accounting Pronouncements
Accounting Pronouncements (Details)
Commitments And Contingencies
Common Equity
Common Equity (Tables)
Common Equity Automatic Dividend Reinvestment And Stock Purchase Plan (Details)
Common Equity Earnings Per Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements Carrying And Fair Value Amounts (Details)
Income Taxes
Income Taxes (Details)
Investment In Unconsolidated Affiliates
Investment In Unconsolidated Affiliates (Details)
Investment In Unconsolidated Affiliates (Tables)
Investment In Unconsolidated Affiliates Reconciliation Of Equity In Earnings Of Unconsolidated Affiliates (Details)
Investment In Unconsolidated Affiliates Related Party Transactions (Details)
Investment In Unconsolidated Affiliates Summarized Balance Sheet Information Of Equity Method Investment (Details)
Investment In Unconsolidated Affiliates Summarized Income Statement Of Equity Method Investment (Details)
Leases (Details)
Leases (Notes)
Leases (Policies)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Tables)
Rate Matters And Regulation
Rate Matters And Regulation Rate Matters And Regulation (Details)
Regulated Operations (Details)
Report Of Business Segments
Report Of Business Segments (Details)
Report Of Business Segments (Tables)
Retirement Plans And Postretirement Benefit Plans
Retirement Plans And Postretirement Benefit Plans (Details)
Retirement Plans And Postretirement Benefit Plans (Tables)
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Notes)
Revenue From Contracts With Customers (Tables)
Short-Term Debt And Credit Facilities
Short-Term Debt And Credit Facilities (Details)
Short-Term Debt And Credit Facilities (Tables)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Accumulated Other Comprehensive Income (Loss) (Details)
Summary Of Significant Accounting Policies Accumulated Other Comprehensive Income (Loss) Reclassifications Out Of Aoci (Details)
Summary Of Significant Accounting Policies Equity Ownership (Details)

Material Contracts, Statements, Certifications & more

Oge Energy Corp. provided additional information to their SEC Filing as exhibits

Ticker: OGE
CIK: 1021635
Form Type: 10-Q Quarterly Report
Accession Number: 0001021635-19-000116
Submitted to the SEC: Wed Nov 06 2019 12:42:32 PM EST
Accepted by the SEC: Thu Nov 07 2019
Period: Monday, September 30, 2019
Industry: Electric Services

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