PG&E Corporation to Report Q4 Earnings: Here’s What to Expect

PG&E Corporation (PCG Quick QuotePCG – Free Report) is scheduled to report fourth-quarter 2024 results on Feb. 13, before market open.

Find the latest earnings estimates and surprises on Zacks Earnings Calendar.

In the last reported quarter, the company posted an earnings surprise of 15.63%. Moreover, the company has a trailing four-quarter average earnings surprise of 7.28%.

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 Q4 Earnings
 

During most of the fourth quarter, PCG’s service territories observed warmer-than-normal temperature patterns. This is likely to have impacted demand for electricity from the company’s customers for heating purposes this winter, which is expected to have hurt its quarterly revenues.

Also, significant wildfires affected larger areas of California in the fourth quarter, which forced the company to temporarily shut its power supply to some of its customers. This outage might have some adverse impact on PCG’s overall top-line results.

Nevertheless, favorable outcomes from PCG’s earlier approved general rate case fillings might have bolstered the company’s fourth-quarter revenue performance.

The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $7.25 billion, which indicates growth of 2.9% from the year-ago quarter’s level.

In November, heavy rainfall, landslides and floods hit PG&E’s service areas. These, along with the aforementioned wildfires, might have caused damages to some of the company’s infrastructure, pushing up its operating & maintenance (O&M) costs, which is expected to hurt its fourth-quarter earnings.

However, solid sales growth expectations, along with PCG’s efforts to reduce its non-fuel O&M expenses, are likely to have boosted its overall earnings performance to some extent.

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 31 cents per share, which implies a year-over-year decline of 34%.

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

Earnings ESP: The company’s Earnings ESP is +1.64%. 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 the following players from the same industry that also have the right combination of elements to beat on earnings in the upcoming releases.

Duke Energy (DUK Quick QuoteDUK – Free Report) is scheduled to report its fourth-quarter results on Feb. 13, before market open. It has an Earnings ESP of +1.97% and a Zacks Rank of 3 at present.

The Zacks Consensus Estimate for DUK’s fourth-quarter sales is pegged at $7.72 billion, which indicates a 7.1% improvement from the year-ago quarter’s figure. The Zacks Consensus Estimate for fourth-quarter earnings stands at $1.61 per share, which implies year-over-year growth of 6.6%.

OGE Energy (OGE Quick QuoteOGE – Free Report) is scheduled to report fourth-quarter results on Feb. 19, before market open. It has an Earnings ESP of +2.41% and a Zacks Rank of 2 at present.

The Zacks Consensus Estimate for sales is pegged at $672.5 million, which indicates an 18.7% improvement from the year-ago quarter’s figure. The consensus estimate for earnings stands at 48 cents per share, which suggests year-over-year growth of 100%.

CenterPoint Energy (CNP Quick QuoteCNP – Free Report) is scheduled to report fourth-quarter results on Feb. 20, before market open. It has an Earnings ESP of +0.63% and a Zacks Rank of 2 at present.

The Zacks Consensus Estimate for sales is pegged at $2.28 billion, which indicates a 4.6% improvement from the year-ago quarter’s figure. The consensus estimate for earnings stands at 40 cents per share, which calls for year-over-year growth of 25%.