PG&E Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

PG&E (NYSE:PCG) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$5.99b (up 13% from 2Q 2023).
• Net income: US$520.0m (up 28% from 2Q 2023).
• Profit margin: 8.7% (up from 7.7% in 2Q 2023).
• EPS: US$0.24 (up from US$0.20 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

PG&E Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electric Utilities industry in the US.

Performance of the American Electric Utilities industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with PG&E (including 1 which shouldn't be ignored).

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