Pacific Gas & Electric (NYSE:PCG) Announces Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Pacific Gas & Electric reported Q1 EPS of $0.43 (vs. $0.39 consensus) and revenue of $6.88 billion, reaffirmed FY2026 core EPS guidance of $1.64–$1.66 with projected 9%+ annual EPS growth through 2027–2030 and said no new common equity will be needed through 2030.
• Management warned that wildfire liability reform remains a material uncertainty, noting an unfavorable legislative outcome could force a capital-allocation reevaluation and leave shareholders exposed to significant tail risk.
• PG&E highlighted affordability and reliability progress — its fifth rate reduction lowered bundled rates about 23% for the most vulnerable and 13% for other residential customers, and a continuous-monitoring program prevented roughly 16 million unplanned outage minutes while delivering estimated capital and expense savings.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) announced its quarterly earnings results on Thursday. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04, FiscalAI reports. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a net margin of 10.84% and a return on equity of 11.28%. The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Pacific Gas & Electric updated its FY 2026 guidance to 1.640-1.660 EPS.

Here are the key takeaways from Pacific Gas & Electric's conference call:

• PG&E reported first-quarter core EPS of $0.43, reaffirmed full-year 2026 core EPS guidance of $1.64–$1.66 and 9%+ annual EPS growth through 2027–2030, and said no new common equity will be needed through 2030.
• The company highlighted continued progress on affordability, implementing its fifth rate reduction since January 2024 — bundled rates down 23% for most vulnerable customers and 13% for other residential customers.
• PG&E's continuous monitoring program prevented ~16 million unplanned customer outage minutes (12M in 2025, 4M in Q1 2026), produced 1,484 "good catches," and drove estimated savings (~$8M capital, ~$1M expense).
• Wildfire liability reform remains a material uncertainty — executives warned that an insufficient legislative outcome could force a reevaluation of capital allocation and leave shareholders exposed to tail risk (including potential required contributions).
• Large-load momentum: 4.6 GW in final engineering, >10 GW of interest from the latest cluster study, and CAISO awarded ~$4.16B of transmission projects to PG&E, but timing and conversion to construction remain uncertain.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG traded up $0.01 during trading on Thursday, reaching $16.89. The stock had a trading volume of 14,725,054 shares, compared to its average volume of 22,467,320. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $19.16. The business's 50-day moving average price is $17.97 and its 200 day moving average price is $16.62. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.97 and a quick ratio of 0.92. The stock has a market capitalization of $37.12 billion, a PE ratio of 14.31, a P/E/G ratio of 0.65 and a beta of 0.34.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. Pacific Gas & Electric's payout ratio is 16.95%.

Insider Activity

In other Pacific Gas & Electric news, Director Kerry Whorton Cooper sold 2,500 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $18.68, for a total transaction of $46,700.00. Following the sale, the director owned 73,141 shares of the company's stock, valued at $1,366,273.88. This represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John R. Simon sold 45,607 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.00, for a total transaction of $820,926.00. Following the sale, the executive vice president directly owned 392,303 shares in the company, valued at approximately $7,061,454. This represents a 10.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 84,286 shares of company stock worth $1,528,746. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of hedge funds have recently added to or reduced their stakes in PCG. Dynamic Technology Lab Private Ltd bought a new stake in Pacific Gas & Electric during the 1st quarter worth about $203,000. Empowered Funds LLC grew its holdings in Pacific Gas & Electric by 16.4% during the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider's stock worth $806,000 after acquiring an additional 6,601 shares during the last quarter. Woodline Partners LP grew its holdings in Pacific Gas & Electric by 41.2% during the 1st quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider's stock worth $3,184,000 after acquiring an additional 54,033 shares during the last quarter. Focus Partners Wealth grew its holdings in Pacific Gas & Electric by 93.0% during the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider's stock worth $1,440,000 after acquiring an additional 40,380 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in Pacific Gas & Electric by 499.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider's stock worth $6,037,000 after acquiring an additional 360,845 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PCG. Truist Financial began coverage on shares of Pacific Gas & Electric in a report on Monday. They issued a "buy" rating and a $23.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Pacific Gas & Electric from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. UBS Group raised shares of Pacific Gas & Electric from a "neutral" rating to a "buy" rating in a report on Monday, March 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $25.00 price target on shares of Pacific Gas & Electric in a report on Tuesday. Finally, Morgan Stanley set a $23.00 target price on shares of Pacific Gas & Electric in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pacific Gas & Electric has a consensus rating of "Moderate Buy" and a consensus price target of $21.50.

Pacific Gas & Electric News Summary

Here are the key news stories impacting Pacific Gas & Electric this week:

• Positive Sentiment: Q1 earnings beat — PG&E reported $0.43 EPS vs. consensus $0.39 and revenue of ~$6.88B, beating estimates and showing 15% YoY revenue growth; the beat and strong margins underpin the rally. PG&E (PCG) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Revenue/sector tailwind — WSJ and company commentary point to rising revenue and demand tied in part to AI-related power needs in California, which supports growth visibility beyond utility rate resets. PG&E Revenue, Profit Rises
• Positive Sentiment: Analyst support — recent upgrades and above-consensus price targets (multiple firms with mid-$20s targets) and a Truist "strong-buy" lift sentiment and provide potential upside vs current levels. Truist upgrade / analyst coverage
• Positive Sentiment: Strategic initiatives — PG&E and Tesla approved Cybertruck integration into a residential V2X/V2G pilot, highlighting growth opportunities in vehicle-grid services and distributed energy. This can improve long-term load and service diversification. PG&E and Tesla integrate Cybertruck into V2G programme
• Neutral Sentiment: FY26 guidance largely in line — PG&E set FY2026 EPS guidance at $1.640–1.660, essentially matching consensus (~$1.65). That reduces surprise risk but limits immediate upside from guidance revision.
• Neutral Sentiment: Corporate release: on track and customer rate relief — company press release reiterates 'on track' messaging and notes lower bundled residential electric rates for vulnerable customers, which is positive for regulatory optics but neutral for near-term earnings. PG&E Corporation Reports First Quarter 2026 Results
• Negative Sentiment: Insider and institutional selling — recent data show multiple insider sales and large institutional reductions by some managers (though others added shares). Heavy reported selling can weigh on sentiment even after a beat. PG&E ($PCG) Releases Q1 2026 Earnings

About Pacific Gas & Electric

Pacific Gas & Electric NYSE: PCG is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company's core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E's operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.

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