PG&E to Report Q3 Earnings: What's in the Cards for the Stock?

PG&E Corporation PCG is scheduled to report third-quarter 2025 results on Oct. 23, before market open. 

In the last reported quarter, the company posted a negative earnings surprise of 6.06%. Let’s take a closer look at the factors that are likely to be reflected in PG&E’s upcoming quarterly results.

Factors to Note Ahead of PCG’s Q3 Earnings

During the third quarter, PCG’s service territories observed below-normal temperature patterns. This is likely to have hurt demand for electricity from the company’s customers for cooling purposes this summer. However, the heat wave in late August and early September is likely to have resulted in an increase in electricity demand. The anticipated growth in electric load from electric vehicle adoption, data centers and building electrification is expected to boost energy consumption, supporting PCG’s growth and long-term business expansion.

In September 2025, Pacific Gas and Electric Company, a PG&E subsidiary, partnered with Energy Vault to bring the Calistoga Resiliency Center, a hybrid microgrid energy storage facility, into commercial operation. Serving around 1,600 customers, it marks a key step in reducing Public Safety Power Shutoffs amid rising wildfire and severe weather risks.

In August 2025, Pacific Gas and Electric Company, in collaboration with the Fremont Unified School District and The Mobility House, has announced the launch of one of California’s most advanced vehicle-to-grid electric school bus fleets, signifying a key step forward in clean transportation, grid resilience and student health.

Strong sales projections and lower non-fuel operating and maintenance costs may have supported PG&E’s third-quarter earnings. 

In September 2025, PG&E decreased residential electric rates by 2.1% for residential customers using 500 kilowatt-hours per month without discounts, and also reduced gas rates by 0.4%. These rate cuts make energy more affordable, helping attract new customers while reinforcing the company’s commitment to reliable and cost-effective service.

PCG’s Q3 Expectations

The Zacks Consensus Estimate for sales is pegged at $6.62 billion, which indicates year-over-year growth of 11.4%.

The consensus estimate for earnings is pegged at 46 cents, which calls for a year-over-year rise of 24.3%.

What the Zacks Model Unveils for PCG

Our 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 odds of an earnings beat, which is the case here, as you will see below.

Pacific Gas & Electric Co. Price and EPS Surprise

Pacific Gas & Electric Co. price-eps-surprise | Pacific Gas & Electric Co. Quote

Earnings ESP: The company’s Earnings ESP is +1.45%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: PCG currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Here we have mentioned a few players from the same industry that also have the right combination of elements to beat on earnings this reporting cycle:

Xcel Energy, Inc. XEL is slated to report its third-quarter 2025 results on Oct. 30, before market open. It has an Earnings ESP of +0.68% and a Zacks Rank of 3 at present.

XEL’s long-term (three to five years) earnings growth rate is 7.44%. The Zacks Consensus Estimate for earnings is pinned at $1.33 per share, which suggests a year-over-year rise of 6.4%.

Eversource Energy ES is slated to report its third-quarter 2025 results on Nov. 4, after market close. It has an Earnings ESP of +6.31% and a Zacks Rank of 3 at present.

ES’ long-term earnings growth rate is 5.40%. The Zacks Consensus Estimate for earnings is pegged at $1.11 per share.

Duke Energy DUK is scheduled to report its third-quarter 2025 results on Nov. 7, before market open. It has an Earnings ESP of +1.59% and a Zacks Rank of 2 at present.

DUK’s long-term earnings growth rate is 6.43%. The Zacks Consensus Estimate for earnings stands at $1.73 per share, which implies a year-over-year increase of 6.8%.

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This article originally published on Zacks Investment Research (zacks.com).

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