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PG&E Corporation (PCG) Misses Earnings Estimates in Q2
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PG&E Corporation (PCG - Free Report) , 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 94 cents per share has decreased by 15.3% in the last 90 days.
Coming to the earnings surprise, PG&E Corporation has surpassed the Zacks Consensus Estimate in three out of the last four quarters, resulting in a positive average surprise of 7.12%.
Zacks Rank: Currently, PG&E Corporation as a Zacks Rank#2 (Buy) but that could change following second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: PG&E Corporation’s earnings were lower than the earnings estimates. Adjusted earnings per share came in at 66 cents, lagging the Zacks Consensus Estimate of 94 cents by 29.8%.
Revenue: Revenues of $4,169 million missed the Zacks Consensus Estimate of $4,217 million by 1.1%
Stock Price: It would be interesting to see how the market reacts to the lower than expected earnings during the trading session today.
Check back later for our full write up on this PCG earnings report later!
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PG&E Corporation (PCG) Misses Earnings Estimates in Q2
PG&E Corporation (PCG - Free Report) , 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 94 cents per share has decreased by 15.3% in the last 90 days.
Coming to the earnings surprise, PG&E Corporation has surpassed the Zacks Consensus Estimate in three out of the last four quarters, resulting in a positive average surprise of 7.12%.
Zacks Rank: Currently, PG&E Corporation as a Zacks Rank#2 (Buy) but that could change following second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: PG&E Corporation’s earnings were lower than the earnings estimates. Adjusted earnings per share came in at 66 cents, lagging the Zacks Consensus Estimate of 94 cents by 29.8%.
Revenue: Revenues of $4,169 million missed the Zacks Consensus Estimate of $4,217 million by 1.1%
Stock Price: It would be interesting to see how the market reacts to the lower than expected earnings during the trading session today.
Check back later for our full write up on this PCG earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>