PG&E Q3 Earnings Miss Analyst Estimates on Revenue and Profit

Pacific Gas & Electric Co. (PCG) reported third-quarter net income of $776 million, or 34 cents per share, missing Wall Street expectations. Adjusted earnings came in at 41 cents per share, below the 42-cent average estimate from four analysts surveyed by Zacks Investment Research. The Oakland, California-based utility holding company posted revenue of $6.19 billion for the period, also falling short of Street forecasts. Three analysts surveyed by Zacks had expected $6.59 billion. PG&E expects full-year earnings in the range of $1.64 to $1.66 per share.