Billy Corgan has led the Smashing Pumpkins back from the desert wanderings embodied in strained musical experimentation and collapsing lineups to a satisfying place for the band and its fans.

In concert Saturday at the Agganis Arena, the Pumpkins performed their new album, “Oceania,” in its entirety and followed that with a second hour of hits and album cuts culled mainly from the band’s ’90s commercial peak.