PG&E Q4 Earnings in Line With Estimates, Revenues Increase Y/Y

PG&E Corporation PCG reported fourth-quarter 2025 adjusted earnings per share (EPS) of 36 cents, which were in line with the Zacks Consensus Estimate. The bottom line increased 16.1% from the year-ago quarter’s figure of 31 cents.

The company reported GAAP earnings of 29 cents per share, which decreased 3.3% from the prior-year quarter’s figure of 30 cents.

PCG reported 2025 adjusted earnings of $1.50 per share, which were higher than the year-ago figure of $1.36. The full-year bottom line was also in line with the Zacks Consensus Estimate.

PCG’s 2025 Revenues

The company reported revenues of $24.94 billion in 2025, which were higher than $24.42 billion in 2024. The full-year top-line figure missed the Zacks Consensus Estimate of $25.33 billion.

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 2025 were $20.19 billion, which increased 1.1% from the prior-year figure.

The company reported an operating income of $4.75 billion compared with $4.46 billion a year ago.

Interest expenses totaled $3.03 billion compared with $3.05 billion in the previous year.

Financial Condition of PCG

As of Dec. 31, 2025, cash and cash equivalents totaled $0.71 billion compared with $0.94 billion as of Dec. 31, 2024.

The net cash flow from operating activities amounted to $8.72 billion during 2025 compared with $8.04 billion at the end of 2024.

Capital expenditures totaled $11.79 billion compared with $10.37 billion in 2024.

As of Dec. 31, 2025, the company’s long-term debt amounted to $57.39 billion compared with $53.57 billion as of Dec. 31, 2024.

PCG’s 2026 Guidance

PG&E now expects to generate adjusted earnings in the range of $1.64-$1.66 per share, narrower than its earlier guided range of $1.62-$1.66.

The Zacks Consensus Estimate for 2026 earnings, pegged at $1.63 per share, is lower than the company’s guided range.

PCG’s Zacks Rank

PG&E currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

Duke Energy Corporation's DUK fourth-quarter 2025 earnings of $1.50 per share lagged the Zacks Consensus Estimate of $1.51 by 0.6%. The bottom line also declined 9.6% from $1.66 reported in the year-ago quarter.

Total operating revenues were $7.94 billion, which beat the Zacks Consensus Estimate of $7.66 billion by 3.9%. The top line also increased 7.9% from $7.36 billion in the year-ago period.

Xcel Energy Inc. XEL reported fourth-quarter 2025 operating earnings of 96 cents per share, which lagged the Zacks Consensus Estimate of 97 cents by a penny.  However, the bottom line surpassed the year-ago quarter’s figure by 18.5%.

Revenues of $3.56 billion missed the Zacks Consensus Estimate of $3.72 billion by 4.4%. However, the figure increased 14.1% from the year-ago quarter’s $3.12 billion.

National Fuel Gas Company NFG reported first-quarter fiscal 2026 adjusted operating earnings of $2.06 per share, which beat the Zacks Consensus Estimate of $1.91 by 7.85%. The bottom line also increased 24.1% from the year-ago quarter’s reported figure of $1.66.

NFG reported sales of $651.5 million, which beat the Zacks Consensus Estimate of $647 million by 0.7%. The top line also increased 18.6% from the prior-year recorded figure of $549.5 million.

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

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