PG&E Q3 operating revenue falls and misses estimates
PCG•PG&E reported Q3 operating revenue of $6.19 billion, below the $6.83 billion analyst estimate, and said GAAP EPS fell year over year. The company reaffirmed 2026 core EPS guidance of $1.64-$1.66 and 2027 guidance of $1.78-$1.82.
1. Quarterly results
PG&E's Q3 operating revenue declined year over year to $6.19 billion, missing analyst expectations of $6.83 billion. GAAP EPS was $0.34 and fell year over year.
2. Guidance reaffirmed
The company maintained its 2026 non-GAAP core EPS guidance of $1.64-$1.66 and its 2027 guidance of $1.78-$1.82. PG&E said it was on track to achieve 2%-4% reductions in non-fuel operating and maintenance costs.
3. Earnings drivers
PG&E said a lower California Public Utilities Commission return on equity and higher Wildfire Fund expense weighed on Q3 earnings. Increased electric customer and EV charging port connections supported operational progress.
