OGE Energy Corp. (NYSE:OGE) Q3 2023 Earnings Call Transcript

Bryan Buckler: Sure, yes. Paul, as we mentioned, our metrics stand today at 17.5% to 18%. And we’re a company that wants to always take care of our balance sheet and make sure we keep the company in a good, solid position. So you’re never going to see us living on the edge at 13%, 14%. So we’re going to be mindful of that as we build out our CapEx plan into the future. Obviously, we do have some room to add some capital without the need to issue equity. But we’ll continue to refine those estimates, and we’ll take care of this balance sheet and balance it all, whether it’s capital investments, affordability, our credit metrics, all those matter, and we’ll continue to balance it in the right way.

Paul Fremont: And maybe as a follow-up to that, what — on incremental CapEx that’s not sort of currently in your budget, what percent of equity should investors assume will be used to support incremental investments?

Bryan Buckler: Go ahead, Sean.

Sean Trauschke : Yes. Paul, we’ll lay all that out at the appropriate time. I mean I think Bryan was really clear there that we’ve got a plan to meet our earnings objectives, and it doesn’t require any equity. And anything we do above and beyond that, that will be growth equity. But I don’t think that needs to – I don’t want to get ahead of ourselves in terms of rolling all this out in February.

Operator: Thank you. I’m showing no further questions at this time. I’d now like to turn it back to Sean Trauschke for closing remarks.

Sean Trauschke : Thank you, Andrea. And thank you all for being with us today and your interest in OGE Energy Corp., and we are adjourned. Have a great day.

Operator: Thank you for your participation in today’s conference. This concludes the program. You may now disconnect.