PG&E Goes Negative
PG&E (NYS: PCG) reported earnings on Feb. 21. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), PG&E missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share contracted significantly. GAAP earnings per share dropped to a loss.
Margins contracted across the board.
Revenue details
PG&E logged revenue of $3.83 billion. The four analysts polled by S&P Capital IQ expected revenue of $4.18 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.59. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.60 per share. Non-GAAP EPS of $0.59 for Q4 were 34% lower than the prior-year quarter's $0.89 per share. GAAP EPS were -$0.03 for Q4 against $0.20 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 18.9%, 690 basis points worse than the prior-year quarter. Operating margin was 6.8%, 420 basis points worse than the prior-year quarter. Net margin was -0.3%, 250 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $3.76 billion. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $15.55 billion. The average EPS estimate is $2.77.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 286 members out of 302 rating the stock outperform, and 16 members rating it underperform. Among 91 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give PG&E a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PG&E is outperform, with an average price target of $44.78.
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The article PG&E Goes Negative originally appeared on Fool.com.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. TMFDisclosureHere
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