PG & E Corp. (PCG) announced that its third-quarter net income available for common shareholders was $318 million, or $0.83 per share, compared to $304 million, or $0.83 per share in the year ago quarter.
The latest quarter GAAP results included a net charge of $0.10 per share, reflecting costs for accelerated natural gas system survey and maintenance work and a workforce reduction, partially offset by a prior year tax benefit.
On a non-GAAP basis, earnings from operations were $358 million, or $0.93 per share, in the third quarter of 2009. Analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the quarter were $3.24 billion, compared to $3.67 billion in the prior year quarter. Six analysts had consensus revenue estimate of $3.48 billion for the quarter.
For fiscal 2009, the company now expects GAAP earnings to be in the range of $3.13 to $3.27 per share. Earlier, GAAP earnings were projected to be $3.21 - $3.33 per share for 2009. Analysts expect the company to report earnings of $3.16 per share for fiscal 2009.
PG&E reaffirmed its previous guidance for earnings from operations in the range of $3.15-$3.25 per share for 2009, $3.35-$3.50 per share for 2010, and $3.65-$3.85 per share for 2011.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.