We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PCG posted Q1 2026 adjusted EPS of 43 cents, up from 33 cents.
PCG revenue rose 15% Y/Y to $6.88B, topping consensus $6.46B; operating income grew to $1.47B.
PCG reaffirmed 2026 adjusted EPS guidance of $1.64-$1.66, long-term debt rose to $60.15B.
PG&E Corporation (PCG - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 43 cents, which beat the Zacks Consensus Estimate of 39 cents by 10.3%. The bottom line also increased 30.3% from the year-ago quarter’s figure of 33 cents.
The company reported GAAP earnings of 39 cents per share, which rose 39.3% from the prior-year quarter’s figure of 28 cents.
PCG’s Revenue Update
PCG reported first-quarter total revenues of $6.88 billion, up 15% from $5.98 billion registered in the year-ago period. The top line also surpassed the Zacks Consensus Estimate of $6.46 billion by 6.6%.
Pacific Gas & Electric Co. Price, Consensus and EPS Surprise
Total operating expenses in the first quarter of 2026 were $5.41 billion, up 13.6% from the prior-year reported figure.
The company reported an operating income of $1.47 billion compared with $1.22 billion in the prior year.
Interest expenses totaled $803 million compared with $734 million in the prior-year quarter.
Financial Condition of PCG
As of March 31, 2026, cash and cash equivalents totaled $1.13 billion compared with $0.71 billion as of Dec. 31, 2025.
Cash flow from operating activities amounted to $2.43 billion for the first three months of 2026 compared with $2.85 billion in the first three months of 2025.
Capital expenditures totaled $3.36 billion during the first three months of 2026 compared with $2.64 billion in the first three months of 2025.
As of March 31, 2026, the company’s long-term debt amounted to $60.15 billion compared with $57.39 billion as of Dec. 31, 2025.
PCG’s 2026 Guidance
PG&E reaffirmed its 2026 adjusted EPS guidance. The company expects to generate adjusted earnings in the range of $1.64-$1.66 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $1.65, which is at the midpoint of the company’s guided range.
CMS Energy Corporation (CMS - Free Report) is scheduled to report its first-quarter 2026 results on April 28, before market open.
The Zacks Consensus Estimate for first-quarter sales is pegged at $2.51 billion, which indicates a 2.6% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at $1.11 per share.
Xcel Energy Inc. (XEL - Free Report) is slated to report its first-quarter 2026 results on April 30, before market open.
The Zacks Consensus Estimate for first-quarter sales is pegged at $4.21 billion, which implies an 7.7% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at 92 cents per share.
Duke Energy Corporation (DUK - Free Report) is scheduled to report its first-quarter 2026 results on May 5, before market open.
The Zacks Consensus Estimate for first-quarter sales is pegged at $8.46 billion, which calls for a 2.6% increase from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at $1.79 per share.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
PG&E Q1 Earnings Surpass Estimates, Revenues Increase Y/Y
Key Takeaways
PG&E Corporation (PCG - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 43 cents, which beat the Zacks Consensus Estimate of 39 cents by 10.3%. The bottom line also increased 30.3% from the year-ago quarter’s figure of 33 cents.
The company reported GAAP earnings of 39 cents per share, which rose 39.3% from the prior-year quarter’s figure of 28 cents.
PCG’s Revenue Update
PCG reported first-quarter total revenues of $6.88 billion, up 15% from $5.98 billion registered in the year-ago period. The top line also surpassed the Zacks Consensus Estimate of $6.46 billion by 6.6%.
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 of PCG
Total operating expenses in the first quarter of 2026 were $5.41 billion, up 13.6% from the prior-year reported figure.
The company reported an operating income of $1.47 billion compared with $1.22 billion in the prior year.
Interest expenses totaled $803 million compared with $734 million in the prior-year quarter.
Financial Condition of PCG
As of March 31, 2026, cash and cash equivalents totaled $1.13 billion compared with $0.71 billion as of Dec. 31, 2025.
Cash flow from operating activities amounted to $2.43 billion for the first three months of 2026 compared with $2.85 billion in the first three months of 2025.
Capital expenditures totaled $3.36 billion during the first three months of 2026 compared with $2.64 billion in the first three months of 2025.
As of March 31, 2026, the company’s long-term debt amounted to $60.15 billion compared with $57.39 billion as of Dec. 31, 2025.
PCG’s 2026 Guidance
PG&E reaffirmed its 2026 adjusted EPS guidance. The company expects to generate adjusted earnings in the range of $1.64-$1.66 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $1.65, which is at the midpoint of the company’s guided range.
PCG’s Zacks Rank
PG&E currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Utility Releases
CMS Energy Corporation (CMS - Free Report) is scheduled to report its first-quarter 2026 results on April 28, before market open.
The Zacks Consensus Estimate for first-quarter sales is pegged at $2.51 billion, which indicates a 2.6% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at $1.11 per share.
Xcel Energy Inc. (XEL - Free Report) is slated to report its first-quarter 2026 results on April 30, before market open.
The Zacks Consensus Estimate for first-quarter sales is pegged at $4.21 billion, which implies an 7.7% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at 92 cents per share.
Duke Energy Corporation (DUK - Free Report) is scheduled to report its first-quarter 2026 results on May 5, before market open.
The Zacks Consensus Estimate for first-quarter sales is pegged at $8.46 billion, which calls for a 2.6% increase from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at $1.79 per share.