NYSE$PCG
PG&E Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
PG&E Corporation's financial performance for Q3 2022 improved, with GAAP earnings of $0.21 per diluted share and non-GAAP core earnings of $0.29 per diluted share.
PG&E Corporation reported third-quarter 2022 GAAP earnings of $0.21 per diluted share, a significant improvement compared to losses of $(0.55) per diluted share in the same period of 2021. Non-GAAP core earnings were $0.29 per diluted share, up from $0.24 in the prior year. The company updated its 2022 EPS guidance for GAAP earnings to $0.80 to $1.01 per diluted share and narrowed non-GAAP core earnings guidance to $1.09 to $1.11 per diluted share.
- GAAP earnings were $0.21 per diluted share for Q3 2022, compared to losses of $(0.55) per diluted share for Q3 2021.
- Non-GAAP core earnings were $0.29 per diluted share for Q3 2022, compared to earnings of $0.24 per diluted share for Q3 2021.
- 2022 EPS guidance for GAAP earnings was updated to a range of $0.80 to $1.01 per diluted share.
- 2022 EPS guidance for non-GAAP core earnings was narrowed to a range of $1.09 to $1.11 per diluted share.
Headline financials
Revenue & EPS history
PG&E · Revenue · Quarterly
$5.39B
Revenue by segment
PG&E · $5.39B total across 2 segments · Q3 2022
- Electric Revenue$3.9B-6.8%72.2%
- Natural Gas Revenue$1.5B+16.7%27.8%
Forward guidance
PG&E Corporation updated 2022 GAAP earnings guidance in the range of $0.80 to $1.01 per diluted share and narrowed the guidance range for projected 2022 non-GAAP core earnings to $1.09 to $1.11 per diluted share. PG&E Corporation is initiating 2023 GAAP earnings guidance in the range of $0.98 to $1.21 per diluted share and non-GAAP core earnings in the range of $1.19 to $1.23 per share.
Tailwinds
- Updated 2022 GAAP earnings guidance to a range of $0.80 to $1.01 per diluted share.
- Narrowed the guidance range for projected 2022 non-GAAP core earnings to $1.09 to $1.11 per diluted share.
- Initiating 2023 GAAP earnings guidance in the range of $0.98 to $1.21 per diluted share.
- Initiating 2023 non-GAAP core earnings guidance in the range of $1.19 to $1.23 per share.
- Forecasting no equity needs in 2022 through 2024.
Headwinds
- Costs related to unrecoverable interest expense of $330 million to $370 million after tax.
- Amortization of the Wildfire Fund asset and accretion of the related Wildfire Fund liability.
- PG&E Corporation’s and the Utility’s reorganization cases under Chapter 11.
- Wildfire-related costs and investigation remedies.
- Strategic repositioning costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
-0.3%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-1.3%
Avg return
30 days after
45%
33 / 73 earnings
Positive
+8.1%
Q4 2019
Best reaction
-9.5%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -3.7% | -2.2% | |
| Q4 2025 | +2.7% | +5.4% | +6.1% | |
| Q3 2025 | -2.4% | -2.8% | -5.5% | |
| Q2 2025 | +0.0% | +8.2% | +9.0% | |
| Q1 2025 | -0.8% | -1.1% | -2.8% | |
| Q4 2024 | -1.1% | -3.8% | +4.7% | |
| Q3 2024 | +1.7% | +4.6% | +0.4% | |
| Q2 2024 | -1.2% | +0.4% | +3.0% | |
| Q1 2024 | +0.2% | +0.6% | +8.6% | |
| Q4 2023 | +1.5% | -1.1% | -2.2% | |
| Q3 2023 | -2.2% | +0.8% | +11.4% | |
| Q2 2023 | -1.3% | -3.1% | -6.7% | |
| Q1 2023 | -0.1% | -0.1% | -3.7% | |
| Q4 2022 | +1.7% | +0.6% | +0.8% | |
| Q3 2022 | +0.5% | +0.9% | +1.3% | |
| Q2 2022 | +0.7% | +2.2% | +15.8% | |
| Q1 2022 | +1.3% | +1.8% | -1.1% | |
| Q4 2021 | -8.5% | -7.3% | -12.4% | |
| Q3 2021 | -2.2% | +0.4% | +1.3% | |
| Q2 2021 | -3.9% | -1.7% | -0.3% | |
| Q1 2021 | +4.9% | +4.9% | -6.0% | |
| Q4 2020 | -7.9% | -4.6% | +5.8% | |
| Q3 2020 | -1.4% | -0.3% | +31.2% | |
| Q2 2020 | +1.6% | -1.7% | -0.8% | |
| Q1 2020 | +3.4% | +8.0% | +11.5% | |
| Q4 2019 | +8.1% | +10.6% | -51.2% | |
| Q3 2019 | -6.4% | +2.0% | +39.5% | |
| Q2 2019 | -9.5% | -13.9% | -44.9% | |
| Q1 2019 | -1.0% | -3.2% | -21.2% | |
| Q4 2018 | +0.6% | +2.9% | +0.0% | |
| Q3 2018 | +2.4% | -15.9% | -43.6% | |
| Q2 2018 | +1.1% | +0.2% | -0.4% | |
| Q1 2018 | -2.2% | -6.8% | -7.8% | |
| Q4 2017 | +2.9% | +2.2% | +9.9% | |
| Q3 2017 | -0.8% | -1.6% | -5.4% | |
| Q2 2017 | -0.7% | +0.5% | +3.2% | |
| Q1 2017 | +0.5% | +1.0% | +3.7% | |
| Q4 2016 | +1.6% | +2.7% | +5.8% | |
| Q3 2016 | +1.5% | -1.3% | -3.2% | |
| Q2 2016 | -0.0% | +0.6% | -2.9% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | +0.1% | — | — | |
| Q3 2015 | -3.2% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | +4.2% | — | — | |
| Q2 2014 | -1.8% | — | — | |
| Q1 2014 | -2.3% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | -2.6% | — | — | |
| Q3 2012 | +1.2% | — | — | |
| Q2 2012 | -3.0% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q2 2011 | +2.1% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -3.5% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q2 2010 | -1.3% | — | — | |
| Q4 2007 | -1.3% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q1 2009 | +2.2% | — | — | |
| Q1 2010 | +2.2% | — | — | |
| Q4 2009 | -1.2% | — | — | |
| Q3 2008 | -1.6% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q4 2008 | -0.3% | — | — | |
| Q2 2008 | -0.3% | — | — | |
| Q2 2009 | -0.3% | — | — |
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