PG&E reports Q3 2026 earnings miss, reaffirms 2026‑27 EPS guidance and cuts 2027 capital plan
Pacific Gas & Electric Corp. posted third‑quarter 2026 GAAP earnings of $0.34 per share and non‑GAAP core earnings of $0.41 per share, down from a year earlier. Revenue came in at $6.19 billion, below consensus estimates of roughly $6.8 billion. The company reaffirmed its full‑year 2026 non‑GAAP core EPS guidance of $1.64‑$1.66 and its 2027 guidance of $1.78‑$1.82, while announcing a $2 billion reduction to its 2027 capital plan, now $11.4 billion, as part of a strategic review aimed at achieving investment‑grade credit status.
Why it matters
Analysts note that the revenue shortfall could weigh on the stock in the near term, while the reaffirmed EPS guidance provides investors with continued visibility on earnings expectations. The reduced capital plan lowers future cash‑outflows, which may improve the company’s path to investment‑grade ratings.
Key facts
- 1GAAP EPS for Q3 2026 was $0.34 per share, down from $0.37 a year earlier. tradingview.com
- 2Non‑GAAP core EPS for Q3 2026 was $0.41 per share, down from $0.50 a year earlier. tradingview.com
- 3Quarterly revenue was $6.19 billion, versus consensus estimates of $6.82 billion. investing.com
- 4Full‑year 2026 non‑GAAP core EPS guidance was reaffirmed at $1.64‑$1.66 per share. tradingview.com
- 5Full‑year 2027 non‑GAAP core EPS guidance was reaffirmed at $1.78‑$1.82 per share. tradingview.com
- 6The 2027 capital plan was cut by $2 billion to $11.4 billion. finance.biggo.com
Summary written by AlphAI AI Desk from 16 of 16 sources. Not investment advice. Figures are as stated by the linked sources.