PG&E Q3 Earnings Surpass Estimates, Revenues Increase Y/Y

By Zacks Equity Research | October 23, 2025, 10:50 AM

PG&E Corporation PCG reported third-quarter 2025 adjusted earnings per share (EPS) of 50 cents, which beat the Zacks Consensus Estimate of 44 cents by 13.6%. The bottom line also increased 35.1% from the year-ago quarter’s figure of 37 cents.

The company reported GAAP earnings of 37 cents per share, which increased 37% from the prior-year quarter’s figure of 27 cents.

PCG’s Revenue Update

PCG reported third-quarter total revenues of $6.25 billion, up 5.2% from $5.94 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.55 billion by 4.6%.

Pacific Gas & Electric Co. Price, Consensus and EPS Surprise

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 third quarter of 2025 were $5.04 billion, up 2.6% from the prior-year reported figure.

The company reported an operating income of $1.21 billion compared with $1.03 billion in the prior year.

Interest expenses totaled $770 million compared with $795 million in the prior-year quarter.

Financial Condition of PCG

As of Sept. 30, 2025, cash and cash equivalents totaled $0.40 billion compared with $0.94 billion as of Dec. 31, 2024.

Cash flow from operating activities amounted to $6.76 billion for the first nine months of 2025 compared with $6.10 billion in the first nine months of 2024.

Capital expenditures totaled $8.63 billion during the first nine months compared with $7.54 billion in the first nine months of 2024.

As of Sept. 30, 2025, the long-term debt amounted to $55.53 billion compared with $53.57 billion as of Dec. 31, 2024.

PCG’s 2025 Guidance

PG&E now expects to generate adjusted earnings in the range of $1.49-$1.51 per share, narrower than its earlier guided range of $1.48-$1.52 per share.

The Zacks Consensus Estimate for 2025 earnings, pegged at $1.50 per share, is in line with 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

Xcel Energy Inc. XEL is slated to report its third-quarter 2025 results on Oct. 30, before market open.

The Zacks Consensus Estimate for third-quarter sales is pegged at $3.94 billion, which implies an 8.1% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at $1.31 per share.

AES Corporation AES is scheduled to report its third-quarter 2025 results on Nov. 4, after market close.

The Zacks Consensus Estimate for sales is pegged at $3.33 billion, which indicates a 1.2% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pinned at 70 cents per share.

Duke Energy DUK is scheduled to report its third-quarter 2025 results on Nov. 7, before market open.

The Zacks Consensus Estimate for sales is pegged at $8.41 billion, which indicates a 3.2% improvement from the year-ago quarter’s figure. The consensus estimate for earnings is pegged at $1.73 per share.

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Xcel Energy Inc. (XEL): Free Stock Analysis Report
 
Pacific Gas & Electric Co. (PCG): Free Stock Analysis Report
 
Duke Energy Corporation (DUK): Free Stock Analysis Report
 
The AES Corporation (AES): Free Stock Analysis Report

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

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