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PG&E: Q2 Earnings Snapshot

OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Pacific Gas & Electric Co. (PCG) on Thursday reported second-quarter earnings of $761 million.

On a per-share basis, the Oakland, California-based company said it had net income of 33 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 40 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The utility holding company posted revenue of $5.9 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $6.31 billion.

PG&E expects full-year earnings in the range of $1.64 to $1.66 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCG at https://www.zacks.com/ap/PCG

SEC joins Big Ten in banning pros from returning to college, includes basketball players

The Southeastern Conference passed a rule Tuesday banning players who have been drafted by NFL, NBA or WNBA teams or listed on rosters in those leagues, joining the Big Ten in taking a strong stand against this month's unexpected surge of pro players trying to return to college. The SEC's rule differs from the one adopted by the Big Ten, which only included football in its decision released earlier in the day. Combined, it leaves little doubt about where the nation's two biggest conferences stand in the wake of court orders that were allowing players who had been on pro rosters, then released, to return back to college. It puts LSU on notice. This week, Tigers coach Lane Kiffin added Dae’Quan Wright and Zxavian Harris, a pair of undrafted players out of Mississippi who had tryouts in the NFL over the summer, but were released by their teams during training camp.
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