The 10-second takeaway
For the quarter ended Sep. 30 (Q3), PG&E missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share grew significantly.
Margins grew across the board.
PG&E reported revenue of $3.98 billion. The four analysts polled by S&P Capital IQ looked for sales of $4.12 billion on the same basis. GAAP reported sales were 3.0% higher than the prior-year quarter's $3.86 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.93. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.88 per share. GAAP EPS of $0.84 for Q3 were 68% higher than the prior-year quarter's $0.50 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 31.0%, 580 basis points better than the prior-year quarter. Operating margin was 15.4%, 480 basis points better than the prior-year quarter. Net margin was 9.2%, 400 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.93 billion. On the bottom line, the average EPS estimate is $0.61.
Next year's average estimate for revenue is $15.33 billion. The average EPS estimate is $3.16.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 280 members out of 298 rating the stock outperform, and 18 members rating it underperform. Among 87 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 85 give PG&E a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PG&E is outperform, with an average price target of $45.92.
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