Overview

* PG&E ( PCG ) Q3 operating revenue missed analyst expectations

* Adjusted EPS for Q3 beats analyst estimates

* GAAP EPS for Q3 increased to $0.37 from $0.27 in 2024

Outlook

* PG&E ( PCG ) narrows 2025 non-GAAP core EPS guidance to $1.49-$1.51

* Company initiates 2026 non-GAAP core EPS guidance of $1.62-$1.66

* PG&E ( PCG ) reaffirms at least 9% annual non-GAAP core EPS growth for 2027-2030

Result Drivers

* CAPITAL INVESTMENT - Increase in customer capital investment contributed to higher earnings

* WILDFIRE RISK REDUCTION - Completed 97 miles of underground powerlines and installed 58 miles of strengthened poles in high wildfire-risk areas

* ENERGY STORAGE - Successful operation of the world's first ultra-long duration hybrid battery and hydrogen energy storage microgrid in Calistoga

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $6.25 $6.49

Operatin bln bln (3

g Analysts

Revenue )

Q3 Beat $0.50 $0.41 (9

Adjusted Analysts

EPS )

Q3 EPS $0.37

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy"

* Wall Street's median 12-month price target for PG&E Corp ( PCG ) is $21.00, about 20.2% above its October 21 closing price of $16.75

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)