PG&E Corporation to Report Q3 Earnings: Here's What to Expect

Zacks11-04 21:55

PG&E Corporation PCG is scheduled to report third-quarter 2024 results on Nov. 7, before market open.See the Zacks Earnings Calendar to stay ahead of market-making news.In the last reported quarter, ...

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However, the company has a trailing four-quarter average negative earnings surprise of 0.20%.Let’s take a closer look at the factors that are likely to be reflected in PG&E’s upcoming quarterly results.During most of the third quarter, PCG’s service territories observed warmer-than-normal temperature patterns. This is likely to have boosted demand for electricity from the company’s customers for cooling purposes this summer, which, in turn, might have bolstered PG&E’s third-quarter revenues.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PCG":"太平洋煤气电力"},"translate_title":"PG&E Corporation将报告第三季度收益：以下是预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PCG":1},"content_text":"PG&E Corporation PCG is scheduled to report third-quarter 2024 results on Nov. 7, before market open.See the Zacks Earnings Calendar to stay ahead of market-making news.In the last reported quarter, the company posted an earnings surprise of 3.33%. However, the company has a trailing four-quarter average negative earnings surprise of 0.20%.Let’s take a closer look at the factors that are likely to be reflected in PG&E’s upcoming quarterly results.\nFactors to Note Ahead of PCG’s Q3 Earnings \nDuring most of the third quarter, PCG’s service territories observed warmer-than-normal temperature patterns. This is likely to have boosted demand for electricity from the company’s customers for cooling purposes this summer, which, in turn, might have bolstered PG&E’s third-quarter revenues.\n\nPacific Gas & Electric Co. Price and EPS Surprise\n\nPacific Gas & Electric Co. price-eps-surprise | Pacific Gas & Electric Co. Quote\n\nFavorable outcomes from PCG’s earlier approved general rate case fillings might have bolstered the company’s third-quarter revenue performance.The Zacks Consensus Estimate for third-quarter revenues is pegged at $6.67 billion, which indicates growth of 13.3% from the year-ago quarter’s level.During July, some major wildfires hit the service areas of PG&E. This might have caused damages to some of the company’s infrastructure, thereby pushing up its operating & maintenance (O&M) costs, which, in turn, is expected to hurt its third-quarter earnings.However, solid sales growth expectations, along with PCG’s efforts to reduce its non-fuel O&M expenses, are likely to have boosted its overall earnings performance.The Zacks Consensus Estimate for third-quarter earnings is pegged at 32 cents per share, which implies year-over-year growth of 33.3%.\nWhat the Zacks Model Unveils for PCG \nOur proven model predicts an earnings beat for PG&E 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, which is the case here, as you will see below.PCG’s Earnings ESP: The company’s Earnings ESP is +6.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.PCG’s Zacks Rank: PCG currently carries a Zacks Rank #3.\nOther Stocks to Consider \nHere, we have mentioned the following players from the same industry that also have the right combination of elements to beat on earnings in the upcoming releases.American Electric Power Company, Inc AEP is scheduled to report its third-quarter results on Nov. 6, before market open. It has an Earnings ESP of +0.94% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for AEP’s third-quarter sales is pegged at $5.39 billion, which indicates a 1.8% improvement from the year-ago quarter’s figure. The Zacks Consensus Estimate for third-quarter earnings is pinned at $1.78 per share, which indicates year-over-year growth of 0.6%.Avista AVA is slated to report its third-quarter 2024 results on Nov. 6, before market open. It has an Earnings ESP of +33.33% and carries a Zacks Rank of 3 at present.The Zacks Consensus Estimate for AVA’s third-quarter earnings is pegged at 14 cents per share. The Zacks Consensus Estimate for third-quarter sales is pegged at $394.1 million, which implies a 3.8% rise from that reported in the prior-year quarter.Pinnacle West Capital PNW is slated to report its third-quarter 2024 results on Nov. 6, before market open. It has an Earnings ESP of +2.96% and a Zacks Rank of 3 at present.The Zacks Consensus Estimate for PNW’s third-quarter earnings is pinned at $3.35 per share. The Zacks Consensus Estimate for third-quarter sales is pegged at $1.68 billion, which implies a 2.6% increase from that reported in the prior-year quarter.\nWant 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\nPacific Gas & Electric Co. (PCG) : Free Stock Analysis Report\nAmerican Electric Power Company, Inc. (AEP) : Free Stock Analysis Report\nPinnacle West Capital Corporation (PNW) : Free Stock Analysis Report\nAvista Corporation (AVA) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480538812"}