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PG&E Corp (PCG) Beats Q2 Earnings, Misses Sales Estimates

PG&E Corporation 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 second quarter Zacks Consensus Estimate for earnings of 79 cents per share has increased by a penny in the last 7 days.

Coming to the earnings surprise history, PG&E Corporation has missed the Zacks Consensus Estimate in two out of the last four quarters, resulting in a negative average surprise of 3.38%.

Zacks Rank: Currently, PG&E Corporation has a Zacks Rank #3 (Hold) but that could change following its second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: PG&E Corporation’s earnings were above our earnings estimates. Adjusted earnings per share came in at 86 cents, beating the Zacks Consensus Estimate of 79 cents per share by 8.9%.

Revenue: The company’s revenues of $4,250 million for the second quarter missed the consensus estimate of $4,319.8 million.

Key Stats: The company has reaffirmed its adjusted EPS for 2017 in the range of $3.55–$3.75 per share.

Stock Price: In the pre-market trading session, PG&E Corporation’s second quarter results made no significant impact on its share price. Yet, it would be interesting to see how the market reacts to the earnings release during the trading session today.

Check back later for our full write up on this PCG earnings report later!

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