PG&E to Announce Q1 Earnings on April 23
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy PCG?
Source: seekingalpha
- Earnings Announcement Date: PG&E is set to release its Q1 2023 earnings report on April 23 before market open, with consensus EPS estimates at $0.39, reflecting an 18.2% year-over-year increase, indicating ongoing improvements in profitability.
- Revenue Expectations: The revenue is projected to reach $6.26 billion, representing a 4.7% year-over-year growth, primarily driven by rising electricity demand and optimization within the company's power supply chain.
- Performance Beat Record: Over the past two years, PG&E has beaten EPS estimates 63% of the time, although it has only surpassed revenue estimates 13% of the time, suggesting stable performance in profitability but a need for improvement in revenue growth.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen six upward revisions and one downward revision, while revenue estimates have experienced no upward revisions and one downward revision, indicating fluctuating market confidence in PG&E's future profitability.
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Analyst Views on PCG
Wall Street analysts forecast PCG stock price to rise
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 16.260
Low
18.00
Averages
21.36
High
25.00
Current: 16.260
Low
18.00
Averages
21.36
High
25.00
About PCG
PG&E Corporation is a holding company. The Company's primary operating subsidiary is Pacific Gas and Electric Company (the Utility), a public utility operating in Northern and Central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The Utility provides electricity, transmission, and distribution services in its service area. The Utility owns approximately 18,000 circuit miles of interconnected transmission lines operating at voltages ranging from 60 kilovolts (kV) to 500 kV. The Utility also operates 33 electric transmission substations with a capacity of approximately 67,000 megavolt amperes (MVA). Customers can also obtain electricity from alternative providers such as municipalities (CCAs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PG&E Corporation Q1 2026 Earnings Call Insights
- Core Earnings Performance: PG&E reported a core EPS of $0.43 for Q1, surpassing analysts' expectations of $0.39, indicating ongoing execution of its capital plan, although management's cautious stance is reflected in the unchanged 2026 core EPS guidance.
- Long-Term Growth Guidance: The management reaffirmed its EPS growth guidance of over 9% annually from 2027 to 2030, with no new equity issuance expected during this period, signaling stability in capital structure aimed at bolstering investor confidence.
- Nuclear Plant Licensing Progress: The Diablo Canyon nuclear power plant received final state permits to operate through 2030 and a 20-year license extension from the Nuclear Regulatory Commission, although further state action is required, which is critical for the company's long-term operations.
- Project Development Pipeline: The final engineering stage of the development pipeline increased to 4.6 gigawatts, with customer interest exceeding 10 gigawatts, demonstrating strong market demand, while management committed to adding only load that is definitively rate-reducing, emphasizing the importance of pricing for sustainable growth.
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Contract Duration: This capacity is contracted for the next four years, ensuring a stable energy supply for the region.
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- Non-GAAP Core Earnings Rise: The non-GAAP core earnings for Q1 2026 reached $982 million, or $0.43 per share, up from $728 million and $0.33 per share in Q1 2025, demonstrating the company's success in optimizing operations and reducing costs.
- Rate Reductions: PG&E has lowered residential bundled electric rates by 23% since January 2024 for its most vulnerable customers, a move that not only enhances customer satisfaction but also strengthens the company's competitive position in the California market, supporting its long-term growth strategy.
- 2026 Financial Guidance Reaffirmed: PG&E reaffirmed its full-year 2026 non-GAAP core earnings guidance range of $1.64 to $1.66 per share, with expected growth driven by customer capital investment returns and cost savings, further solidifying its market position.
See More
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- Financial Performance Boost: In Q1 2026, PG&E reported GAAP earnings of $0.39 per share, a 39% increase from $0.28 in Q1 2025, demonstrating effective customer capital investment and cost control, which is expected to further enhance investor confidence.
- Core Earnings Resilience: Non-GAAP core earnings reached $0.43 per share, up 30% from $0.33 in Q1 2025, reflecting the company's ongoing efforts in operational efficiency and cost savings, which help strengthen its competitive position in the market.
- Rate Reductions: PG&E has lowered residential bundled electric rates for the fifth time since January 2024, with a 23% reduction for vulnerable customers and 13% for others, which not only alleviates customer burdens but may also enhance customer loyalty and market share.
- Renewable Energy Facility Expansion: PG&E has connected its eighth renewable natural gas facility and plans to add five more by the end of 2027, which is expected to further reduce greenhouse gas emissions and support California's clean energy goals, enhancing the company's image in sustainability.
See More
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PG&E's Commitment: PG&E Corporation is reaffirming its guidance for the years 2027 to 2030, indicating a focus on long-term planning and sustainability.
Strategic Presentation: The company is preparing a presentation to outline its strategic direction and objectives for the upcoming years, emphasizing its commitment to safety and reliability.
See More
PG&E Corporation Q1 2026 Earnings Call Insights
- Core Earnings Performance: PG&E reported a core EPS of $0.43 for Q1, surpassing analysts' expectations of $0.39, indicating ongoing execution of its capital plan, although management's cautious stance is reflected in the unchanged 2026 core EPS guidance.
- Long-Term Growth Guidance: The management reaffirmed its EPS growth guidance of over 9% annually from 2027 to 2030, with no new equity issuance expected during this period, signaling stability in capital structure aimed at bolstering investor confidence.
- Nuclear Plant Licensing Progress: The Diablo Canyon nuclear power plant received final state permits to operate through 2030 and a 20-year license extension from the Nuclear Regulatory Commission, although further state action is required, which is critical for the company's long-term operations.
- Project Development Pipeline: The final engineering stage of the development pipeline increased to 4.6 gigawatts, with customer interest exceeding 10 gigawatts, demonstrating strong market demand, while management committed to adding only load that is definitively rate-reducing, emphasizing the importance of pricing for sustainable growth.
See More
PG&E Projects 1.8 GW Capacity by 2030 Will Reduce Rates by 1%-2%, According to Conference Call
PG&E's Capacity Plans: PG&E has announced that it expects to have 1.8 GW of capacity online by 2030.
Impact on Rates: The addition of this capacity is anticipated to lower rates by 1% to 2%.
See More
PG&E ANNOUNCES 22 GIGAWATTS OF CONTRACTED CAPACITY FOR CALIFORNIA GRID OVER NEXT FOUR YEARS - CONFERENCE CALL
PG&E Capacity Announcement: PG&E has announced that it has secured 22 gigawatts of capacity under contract for the California grid.
Contract Duration: This capacity is contracted for the next four years, ensuring a stable energy supply for the region.
See More
PG&E Reports Strong Q1 2026 Financial Results with Significant Earnings Growth
- Financial Performance Growth: PG&E reported first quarter 2026 income available for common shareholders of $858 million, translating to $0.39 per share, marking a significant increase from $607 million and $0.28 per share in Q1 2025, reflecting effective strategies in customer capital investment and cost management.
- Non-GAAP Core Earnings Rise: The non-GAAP core earnings for Q1 2026 reached $982 million, or $0.43 per share, up from $728 million and $0.33 per share in Q1 2025, demonstrating the company's success in optimizing operations and reducing costs.
- Rate Reductions: PG&E has lowered residential bundled electric rates by 23% since January 2024 for its most vulnerable customers, a move that not only enhances customer satisfaction but also strengthens the company's competitive position in the California market, supporting its long-term growth strategy.
- 2026 Financial Guidance Reaffirmed: PG&E reaffirmed its full-year 2026 non-GAAP core earnings guidance range of $1.64 to $1.66 per share, with expected growth driven by customer capital investment returns and cost savings, further solidifying its market position.
See More
PG&E Reports Strong Q1 2026 Financial Results with Increased Earnings
- Financial Performance Boost: In Q1 2026, PG&E reported GAAP earnings of $0.39 per share, a 39% increase from $0.28 in Q1 2025, demonstrating effective customer capital investment and cost control, which is expected to further enhance investor confidence.
- Core Earnings Resilience: Non-GAAP core earnings reached $0.43 per share, up 30% from $0.33 in Q1 2025, reflecting the company's ongoing efforts in operational efficiency and cost savings, which help strengthen its competitive position in the market.
- Rate Reductions: PG&E has lowered residential bundled electric rates for the fifth time since January 2024, with a 23% reduction for vulnerable customers and 13% for others, which not only alleviates customer burdens but may also enhance customer loyalty and market share.
- Renewable Energy Facility Expansion: PG&E has connected its eighth renewable natural gas facility and plans to add five more by the end of 2027, which is expected to further reduce greenhouse gas emissions and support California's clean energy goals, enhancing the company's image in sustainability.
See More
PG&E CORP: CONFIRMING GUIDANCE FOR 2027-2030 - PRESENTATION
PG&E's Commitment: PG&E Corporation is reaffirming its guidance for the years 2027 to 2030, indicating a focus on long-term planning and sustainability.
Strategic Presentation: The company is preparing a presentation to outline its strategic direction and objectives for the upcoming years, emphasizing its commitment to safety and reliability.
See More
