Advertisement
Australia markets closed
  • ALL ORDS

    8,243.30
    -19.10 (-0.23%)
     
  • AUD/USD

    0.6742
    -0.0023 (-0.34%)
     
  • ASX 200

    7,999.30
    -18.30 (-0.23%)
     
  • OIL

    81.35
    -0.56 (-0.68%)
     
  • GOLD

    2,435.90
    +7.00 (+0.29%)
     
  • Bitcoin AUD

    94,789.43
    +1,479.72 (+1.59%)
     
  • CMC Crypto 200

    1,325.50
    -15.46 (-1.15%)
     

PG&E (PCG) Set to Report Q4 Earnings: What's in the Cards?

PG&E Corporation PCG is scheduled to report fourth-quarter and full-year 2022 results on Feb 23, before the opening bell.

In the last reported quarter, the company delivered a negative earnings surprise of 20.83%. It has a four-quarter average negative earnings surprise of 4.89%.
Let's take a closer look at the factors that are likely to get reflected in PG&E’s upcoming results.

Factors to Note

During the October-December 2022 quarter, the company’s service territories’ mixed temperatures were accompanied by wet conditions in most regions.  Such weather patterns are likely to have a moderate impact on the to-be-reported quarter's top line.

Pacific Gas & Electric Co. Price and EPS Surprise

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

Pacific Gas & Electric Co. price-eps-surprise | Pacific Gas & Electric Co. Quote

ADVERTISEMENT

Favorable rate cases are expected to have boosted PCG’s fourth-quarter revenues.

The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $5.70 billion, suggesting growth of 8.64% from the year-ago quarter.

During the fourth quarter of 2022, the above-average temperature at PG&E’s service territories resulted in fewer wildfire activities than the year-ago period. This might have had less impact on the company’s fourth-quarter bottom line performance, year over year.  

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 28 cents per share, indicating no change from the prior-year reported figure.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for PCG this time around. 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 not the case here.

PG&E has an Earnings ESP of -4.22% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter.

Stocks to Consider

Here are three Utility players you may want to consider as these have the right combination of elements to post an earnings beat this season:

DTE Energy DTE has an Earnings ESP of +1.79% and a Zacks Rank #3. It boasts a long-term earnings growth rate of 6%. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for DTE Energy’s fourth-quarter sales and earnings is pegged at $4.07 billion and $1.22 per share, respectively. DTE boasts a four-quarter earnings surprise of 2.85%, on average.

Sempra Energy SRE has an Earnings ESP of +1.01% and a Zacks Rank #3. The Zacks Consensus Estimate for Sempra Energy’s fourth-quarter sales and earnings is pegged at $3.81 billion and $2.06 per share, respectively

Sempra Energy boasts a long-term earnings growth rate of 5.7%. SRE has a four-quarter earnings surprise of 6.88%.

Edison International EIX has an Earnings ESP of +0.25% and a Zacks Rank #3. The Zacks Consensus Estimate for EIX’s fourth-quarter sales and earnings is pegged at $3.63 billion and $1.08 per share, respectively

Edison International boasts a long-term earnings growth rate of 3%. EIX has a four-quarter earnings surprise of 14.88%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Sempra Energy (SRE) : Free Stock Analysis Report

Edison International (EIX) : Free Stock Analysis Report

Pacific Gas & Electric Co. (PCG) : Free Stock Analysis Report

DTE Energy Company (DTE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research