Pacific Gas & Electric Reports Q4 Earnings of $674 Million
OAKLAND, Calif. - Pacific Gas & Electric Co. (PCG) announced fourth-quarter net income of $674 million, meeting Wall Street estimates of 31 cents per share. Adjusted earnings were also 31 cents per share.
Revenue for the quarter was $6.63 billion, below the $7.29 billion analysts had predicted. However, the company reported annual profits of $2.51 billion, or $1.15 per share, on revenue of $24.42 billion.
PG&E projects future earnings in the range of $1.48 to $1.52 per share.