PG&E Updates FY22 Earnings View; Sees FY23 Earnings In Line Or Below Market - Update

Energy company PG&E Corp. (PCG), while announcing third-quarter results, on Thursday updated its fiscal 2022 outlook, and initiated forecast for fiscal 2023.

PG&E updated 2022 earnings guidance in the range of $0.80 to $1.01 per share. Further, the outlook for core earnings is narrowed to $1.09 to $1.11 per share.

Previously, the company expected earnings in a range of $0.74 to $1.02 per share and core earnings in a range of $1.07 to $1.13 per share.

On average, 13 analysts polled by Thomson Reuters expect earnings of $1.09 per share for the year. Analysts' estimates typically exclude special items.

For fiscal 2023, PG&E expects earnings in the range of $0.98 to $1.21 per share, and core earnings at $1.19 to $1.23 per share.

Analysts estimate earnings of $1.23 per share for fiscal 2023.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design. Generative artificial intelligence or AI technologies, including the highly popular ChatGPT, could expose around 300 million full-time jobs around the world to automation, a report by Goldman Sachs predicts, deepening the rising fears about job security. According to a new research report by GS economists, "The Potentially Large Effects of Artificial Intelligence on Economic Growth",.. UBS Group AG has called back its former Chief Executive Officer Sergio Ermotti to lead the Swiss banking giant amid the new challenges and priorities it faces following its planned acquisition of troubled domestic rival Credit Suisse Group AG. Following the news, UBS shares were gaining more than 2 percent in Swiss trading as well as in pre-market activity on the NYSE.
Follow RTT