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PG&E (PCG) to Report Q1 Earnings: What's in the Offing?
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PG&E Corporation (PCG - Free Report) is scheduled to report first-quarter 2022 results on Apr 28 before the opening bell.
In the last-reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate. The company has a four-quarter average negative earnings surprise of 8.11%.
Let's take a closer look at the factors that are likely to get reflected in PG&E’s upcoming results.
Factors to Note
During the January-March 2022 quarter, the company’s service territories witnessed mostly warmer-than-normal temperature. Such weather patterns are likely to have boosted electricity demand among customers. This, in turn, might have favored the to-be-reported quarter's top line.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $4.97 billion, suggesting growth of 5.5% from the year-ago quarter.
PG&E’s strong cost-reduction efforts, along with successful settlement agreements pertaining to the cost recovery for wildfire mitigation, are expected to have contributed favorably to its quarterly bottom line. Also, active asset management strategies adopted by the company are expected to have bolstered its earnings in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 26 cents per share, indicating an improvement of 13% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for PCG this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
PG&E has an Earnings ESP of +1.96% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.
Other Stocks to Consider
Here are three Utilities players you may want to consider, as these also have the right combination of elements to post an earnings beat this season:
The Southern Company (SO - Free Report) has an Earnings ESP of +11.34% and a Zacks Rank #3. The stock boasts a long-term earnings growth rate of 4%.
The Zacks Consensus Estimate for The Southern Company’s first-quarter revenues and earnings is pegged at $5.88 billion and $1.07, respectively. SO has a four-quarter average earnings surprise of 6.33%.
Atmos Energy (ATO - Free Report) has an Earnings ESP of +1.34% and a Zacks Rank #3. The stock boasts a long-term earnings growth rate of 7.3%.
The Zacks Consensus Estimate for Atmos Energy’s first-quarter revenues and earnings is pegged at $1.49 billion and $2.36, respectively. ATO has a four-quarter average negative earnings surprise of 4.40%.
Dominion Energy (D - Free Report) has an Earnings ESP of +0.86% and a Zacks Rank #3. The stock boasts a long-term earnings growth rate of 6.1%.
The Zacks Consensus Estimate for Dominion Energy’s first-quarter revenues and earnings is pegged at $4.30 billion and $1.17, respectively. D has a four-quarter average earnings surprise of 1.09%.
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PG&E (PCG) to Report Q1 Earnings: What's in the Offing?
PG&E Corporation (PCG - Free Report) is scheduled to report first-quarter 2022 results on Apr 28 before the opening bell.
In the last-reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate. The company has a four-quarter average negative earnings surprise of 8.11%.
Let's take a closer look at the factors that are likely to get reflected in PG&E’s upcoming results.
Factors to Note
During the January-March 2022 quarter, the company’s service territories witnessed mostly warmer-than-normal temperature. Such weather patterns are likely to have boosted electricity demand among customers. This, in turn, might have favored the to-be-reported quarter's top line.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $4.97 billion, suggesting growth of 5.5% from the year-ago quarter.
Pacific Gas & Electric Co. Price and EPS Surprise
Pacific Gas & Electric Co. price-eps-surprise | Pacific Gas & Electric Co. Quote
PG&E’s strong cost-reduction efforts, along with successful settlement agreements pertaining to the cost recovery for wildfire mitigation, are expected to have contributed favorably to its quarterly bottom line. Also, active asset management strategies adopted by the company are expected to have bolstered its earnings in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 26 cents per share, indicating an improvement of 13% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for PCG this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
PG&E has an Earnings ESP of +1.96% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.
Other Stocks to Consider
Here are three Utilities players you may want to consider, as these also have the right combination of elements to post an earnings beat this season:
The Southern Company (SO - Free Report) has an Earnings ESP of +11.34% and a Zacks Rank #3. The stock boasts a long-term earnings growth rate of 4%.
The Zacks Consensus Estimate for The Southern Company’s first-quarter revenues and earnings is pegged at $5.88 billion and $1.07, respectively. SO has a four-quarter average earnings surprise of 6.33%.
Atmos Energy (ATO - Free Report) has an Earnings ESP of +1.34% and a Zacks Rank #3. The stock boasts a long-term earnings growth rate of 7.3%.
The Zacks Consensus Estimate for Atmos Energy’s first-quarter revenues and earnings is pegged at $1.49 billion and $2.36, respectively. ATO has a four-quarter average negative earnings surprise of 4.40%.
Dominion Energy (D - Free Report) has an Earnings ESP of +0.86% and a Zacks Rank #3. The stock boasts a long-term earnings growth rate of 6.1%.
The Zacks Consensus Estimate for Dominion Energy’s first-quarter revenues and earnings is pegged at $4.30 billion and $1.17, respectively. D has a four-quarter average earnings surprise of 1.09%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.