A month has gone by since the last earnings report for OGE Energy (OGE). Shares have added about 14.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is OGE Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. OGE Energy Q1 Earnings Top Estimates, Revenues Drop Y/YOGE Energy’s first-quarter 2020 adjusted earnings of 23 cents per share surpassed the Zacks Consensus Estimate of 18 cents by 27.8%.Including one-time items, the company reported GAAP loss of $2.46 per share against earnings of 24 cents in the year-ago quarter.The downside can be attributed to a $780 million impairment charge related to Enable Midstream.RevenuesOGE Energy’s operating revenues of $431.3 million dropped 12% from the prior-year quarter’s $490 million. The decline in revenues primarily resulted from lower contract revenues.Operational HighlightsTotal sales in the reported quarter amounted to 6.8 million megawatt-hours (MWh) compared with 7 million MWh in the prior-year quarter. Meanwhile, the company’s customer count inched up approximately 0.8% to 859,628.Cost of sales was $135 million in the first quarter compared with $212.6 million in the prior-year quarter.Total operating expenses rose 5.4% year over year to $240 million on account of higher operation and maintenance expenses as well as depreciation and amortization expenses.The company’s operating income grew 13.3% from the year-ago quarter’s $49.7 million to $56.3 million.Interest expenses totaled $38.3 million in the first quarter, compared with $34.6 million in the year-ago quarter.Other Highlights of the ReleaseOGE Energy reported a net loss of $491.8 million in first-quarter 2020, significantly down from the prior year’s $47.1 million.OG&E: Segment net income remained flat year over year at $20 million in the reported quarter, as the recovery of additional assets placed into service was partially offset by unfavorable weather.Natural Gas Midstream Operations: The segment posted a net loss of $568 million in first- quarter 2020 against earnings of $22 million in the previous year quarter.2020 GuidanceOGE Energy still expects its 2020 earnings in the range of $2.19-$2.31 per share. The Zacks Consensus Estimate for 2020 earnings is pegged at $2.11, lower than the company provided guidance.How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report OGE Energy Corporation (OGE): Free Stock Analysis Report To read this article on Zacks.com click here.