PG&E Corporation (PCG) Q4 Earnings Beat, Revenues Decline

PG&E Corporation (NYSE:PCG) , a diversified utility holding company, engages in the business of electricity and natural gas distribution; electricity generation, procurement, and transmission; and natural gas procurement, transportation and storage.

Stable financial position, steady growth in customer counts, a well-set of utility assets and disciplined investments in infrastructure projects will likely boost PG&E Corp.’s future performance. In addition, the company’s practice of paying dividend is commendable.

However, penalties levied for the San Bruno and Carmel incidents, stringent environmental regulations and several operational risks remain potential setbacks.

Estimate Trend & Surprise History

Investors should note that the fourth quarter Zacks Consensus Estimate for earnings of 62 cents per share has remained stable over the last 7 days.

Coming to the earnings surprise, PG&E Corporation has surpassed the Zacks Consensus Estimate in two of the last four quarters, resulting in a positive average surprise of 0.66%.

Zacks Rank: Currently, PG&E Corporation has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: PG&E Corporation exceeded earnings estimate by 29%. Operating earnings per share came in at 80 cents, compared with the Zacks Consensus Estimate of 62 cents.

Revenue: Revenues of $4,088 million missed the Zacks Consensus Estimate of $4,285 million.

Stock Price: It would be interesting to see how the market reacts to the fourth quarter earnings beat during the trading session today.

Check back later for our full write up on this PG&E Corporation earnings report later!

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Pacific Gas & Electric Co. (PCG): Free Stock Analysis Report

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