PG&E Q2 Earnings Top Estimates, Revenues Increase Y/Y
PG&E Corporation (NYSE: PCG) reported second-quarter 2024 adjusted earnings per share of 31 cents, which surpassed the Zacks Consensus Estimate of 30 cents by 3.3%. The bottom line also improved 34.8% from the year-ago quarter’s reported figure.
The company reported GAAP earnings of 24 cents per share compared with 19 cents in the prior-year quarter.
The year-over-year improvement in the bottom line can be attributed to an increase in customer capital investment and non-fuel operating and maintenance (O&M) savings.
Revenue Update
PCG reported second-quarter total revenues of $5.99 billion, up 13.2% from $5.29 billion registered in the year-ago period. Operating revenues also surpassed the Zacks Consensus Estimate of $5.83 billion by 2.7%.
Pacific Gas & Electric Co. Price, Consensus and EPS Surprise
Pacific Gas & Electric Co. price-consensus-eps-surprise-chart | Pacific Gas & Electric Co. Quote
Operational Highlights
Total operating expenses in the second quarter of 2024 were $4.85 billion, up 1.4% from …
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