PG&E Corporation (PCG) released its third-quarter financial results, demonstrating an increase in earnings compared to the previous year and surpassing Wall Street forecasts.
The company achieved a net income of $576 million, translating to $0.27 per share, compared to $348 million or $0.16 per share in the third quarter of the prior year.
Without considering special items, PG&E reported adjusted earnings of $791 million, or $0.37 per share, for the period. According to data compiled by Thomson Reuters, analysts had projected an earnings per share (EPS) of $0.33, typically excluding one-time items.
Quarterly revenue experienced a modest growth of 0.9%, reaching $5.941 billion, up from $5.888 billion in the previous year.
A summary of PG&E Corporation's key financial results under Generally Accepted Accounting Principles (GAAP) includes:
- Quarterly Earnings (Q3): $576 million, up from $348 million the previous year.
- Earnings Per Share (Q3): $0.27, compared to last year's $0.16.
- Revenue (Q3): $5.941 billion, an increase from $5.888 billion a year ago.
**Guidance**: PG&E maintains its full-year EPS forecast within the range of $1.34 to $1.37.
