PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share (EPS) of 86 cents in the second quarter of 2017 surpassed the Zacks Consensus Estimate of 79 cents by 8.9%. Earnings were also up 30.3% from 66 cents reported in the year-ago quarter.
GAAP earnings during the quarter were 79 cents per share, compared with 41 cents a year ago.
Revenue Update
In the second quarter, the company reported revenues of $4,250 million, up 1.9% from $4,169 million in the year-ago period. The figure, however, missed the Zacks Consensus Estimate of $4,319.8 million by 1.6%.
Electric revenues were down 4.1% from the year-ago levels, while natural gas revenues rose 31.7%.
Operational Highlights
Total operating expenses in the second quarter were $3,502 million, down 7.1% from $3,768 million in the year-ago period. Costs declined due to lower cost of electricity, and operation and maintenance expenses.
Operating income came in at $748 million, up from $401 million in the second quarter of 2016.
Interest expenses in the quarter were $225 million, compared with $207 million in the year-ago quarter.
Guidance
The company has reiterated its guidance for 2017 adjusted earnings from operations in the range of $3.55−$3.75 per share.
Zacks Rank
PG&E Corporation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
DTE Energy Company (DTE - Free Report) reported second-quarter 2017 operating earnings per share (EPS) of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
WEC Energy Group (WEC - Free Report) reported second-quarter 2017 adjusted earnings of 63 cents per share, beating the Zacks Consensus Estimate of 59 cents by 6.8% and the year-ago figure of 57 cents by 10.5%.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
PG&E Corporation’s (PCG - Free Report) adjusted operating earnings per share (EPS) of 86 cents in the second quarter of 2017 surpassed the Zacks Consensus Estimate of 79 cents by 8.9%. Earnings were also up 30.3% from 66 cents reported in the year-ago quarter.
GAAP earnings during the quarter were 79 cents per share, compared with 41 cents a year ago.
Revenue Update
In the second quarter, the company reported revenues of $4,250 million, up 1.9% from $4,169 million in the year-ago period. The figure, however, missed the Zacks Consensus Estimate of $4,319.8 million by 1.6%.
Electric revenues were down 4.1% from the year-ago levels, while natural gas revenues rose 31.7%.
Operational Highlights
Total operating expenses in the second quarter were $3,502 million, down 7.1% from $3,768 million in the year-ago period. Costs declined due to lower cost of electricity, and operation and maintenance expenses.
Operating income came in at $748 million, up from $401 million in the second quarter of 2016.
Interest expenses in the quarter were $225 million, compared with $207 million in the year-ago quarter.
Guidance
The company has reiterated its guidance for 2017 adjusted earnings from operations in the range of $3.55−$3.75 per share.
Zacks Rank
PG&E Corporation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
DTE Energy Company (DTE - Free Report) reported second-quarter 2017 operating earnings per share (EPS) of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
WEC Energy Group (WEC - Free Report) reported second-quarter 2017 adjusted earnings of 63 cents per share, beating the Zacks Consensus Estimate of 59 cents by 6.8% and the year-ago figure of 57 cents by 10.5%.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on NEE - FREE
Get the latest research report on PCG - FREE
Get the latest research report on DTE - FREE
Get the latest research report on WEC - FREE