PG&E Corporation (NYSE:PCG) delivered better-than-expected third-quarter earnings on Thursday, though revenue fell short of forecasts. Alongside the results, the utility narrowed its 2025 outlook and provided initial guidance for 2026. Shares were up about 1% in premarket trading.
For the third quarter, PG&E reported earnings per share of $0.50, topping analyst expectations of $0.43. Revenue rose to $6.25 billion from $5.94 billion a year earlier but missed the $6.41 billion consensus estimate.
The company now expects full-year 2025 earnings of $1.49 to $1.51 per share, narrowing its prior range of $1.48 to $1.52 and aligning with the current Wall Street consensus of $1.50.
Looking ahead, PG&E introduced 2026 guidance, projecting earnings between $1.62 and $1.66 per share, compared with analyst estimates of $1.63.
The utility also reaffirmed its long-term goal of achieving at least 9% annual non-GAAP core EPS growth from 2027 through 2030.