PG&E Corporation 's PCG adjusted operating earnings per share (EPS) of $1.06 in the first quarter of 2017 surpassed the Zacks Consensus Estimate of 83 cents by 27.7%. Earnings were also up 29.3% from 82 cents reported in the year-ago quarter.
GAAP earnings during the quarter were $1.13 per share, compared with 22 cents a year ago.
In the first quarter, the company reported revenues of $4,268 million, up 7.4% from $3,974 million in the year-ago period. The figure also surpassed the Zacks Consensus Estimate of $4,149 million by 2.9%.
Electric revenues were down 2.1% from the year-ago levels, while natural gas revenues rose 42.7%.
Total operating expenses in the first quarter were $3,388 million, down 12.7% from $3,879 million in the year-ago period. Costs declined due to lower cost of electricity, and operation and maintenance expenses.
Operating income came in at $880 million, up from $95 million in the first quarter of 2016.
Interest expenses in the quarter were $218 million, compared with $203 million in the year-ago quarter.
Pacific Gas & Electric Co. Price, Consensus and EPS Surprise
The company has reiterated its guidance for 2017 adjusted earnings from operations in the range of $3.55−$3.75 per share.
PG&E Corporation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
DTE Energy Company DTE reported first-quarter 2017 operating earnings per share of $1.79, which beat the Zacks Consensus Estimate of $1.57 by 14%. Total revenue came in at $3.24 billion, which surpassed the Zacks Consensus Estimate of $2.58 billion by 25.6%.
Entergy Corporation ETR reported first-quarter 2017 operational earnings of 99 cents per share, lagging the Zacks Consensus Estimate of $1.06 by 6.6%. Total revenue of $2,588.5 million beat the Zacks Consensus Estimate of $2,566 million by 0.9%.
NextEra Energy, Inc. NEE reported first-quarter 2017 adjusted EPS of $1.75, beating the Zacks Consensus Estimate of $1.56 by 12.2%. Operating revenues totaled $3,972 million, beating the Zacks Consensus Estimate of $3,943 million by nearly 0.7%.
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