PG&E CORPORATION Releases Q2 FY 2023 Earnings Report
July 28, 2023
🌥️Earnings Overview
On July 27, 2023, PG&E CORPORATION ($NYSE:PCG) published its financial results for the second quarter of fiscal year 2023, which ended on June 30, 2023. Its total revenue increased by 3.4% to $5,290.0 million, compared to the same period in the previous year, while net income was reported at $410.0 million, representing a 13.9% rise year-over-year.
Share Price
On Thursday, PG&E CORPORATION released its second quarter Fiscal Year 2023 earnings report. The company’s stock opened at $17.9 and closed at $17.6, down by 1.7% from its prior closing price of $17.9. This increase in earnings was driven by the company’s continued focus on cost control and operational efficiency, as well as a strong commitment to improving customer service and satisfaction. This improvement in operating metrics is a testament to the company’s effective strategies and management.
Overall, PG&E CORPORATION continues to demonstrate its financial strength and commitment to sustainability. The strong performance of the company’s stock and operational metrics is a testament to its management’s ability to optimize operations in a challenging economic environment. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pg&e Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 22.26k | 1.94k | 9.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pg&e Corporation. More…
| Operations | Investing | Financing |
| 4.54k | -9.65k | 5.86k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pg&e Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 120.7k | 96.69k | 10.13 |
Key Ratios Snapshot
Some of the financial key ratios for Pg&e Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.3% | -28.6% | 12.6% |
| FCF Margin | ROE | ROA |
| -23.3% | 6.8% | 1.4% |
Analysis
At GoodWhale, we understand that many investors want to do thorough research before investing in a company. That’s why we provide an in-depth analysis of PG&E CORPORATION’s financials. Our Risk Rating gives you a good indication of the risks associated with investing in this company from both a financial and business perspective – it is rated as a medium risk investment. For investors who want to go even deeper, our platform has detected two potential risk warnings within the income sheet and cashflow statement. To investigate these in greater detail, we invite you to register on GoodWhale.com and see what we find. More…
Peers
PG&E Corp is one of the largest electric and gas utility companies in the United States. The company’s competitors include Ameren Corp, Duke Energy Corp, NiSource Inc.
– Ameren Corp ($NYSE:AEE)
Ameren Corporation is a holding company for several electric and natural gas utilities serving customers in Missouri and Illinois. The company’s electric utilities serve 2.4 million customers in Missouri and Illinois. Ameren’s natural gas utilities serve 1.2 million customers in Missouri and Illinois. The company’s transmission system includes about 16,000 miles of high-voltage power lines.
– Duke Energy Corp ($NYSE:DUK)
Duke Energy Corporation is an American electric power holding company headquartered in Charlotte, North Carolina. The company was founded in 1904 as the merger of three electricity companies. Duke Energy operates in six U.S. states: North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.
Duke Energy is the largest electric power holding company in the United States, with assets totaling over $100 billion. The company has a market capitalization of $67.16 billion as of 2022 and a return on equity of 7.73%. Duke Energy is a diversified energy company that owns and operates a variety of electric generation and transmission assets, as well as natural gas and oil pipelines. The company also provides a variety of energy-related services to its customers.
– NiSource Inc ($NYSE:NI)
NiSource Inc is a publicly traded utility holding company based in Merrillville, Indiana, United States. It is the parent company of Northern Indiana Public Service Company (NIPSCO), Columbia Gas of Massachusetts, Columbia Gas of Ohio, Columbia Pipeline Group, and NIPSCO Industrial. The company has a market cap of 9.8B as of 2022 and a return on equity of 10.43%. NiSource Inc is a diversified energy delivery company that provides electricity, natural gas, and other energy services to customers in the United States and Canada.
Summary
PG&E CORPORATION‘s second quarter of 2023 saw a 3.4% increase in revenue of $5,290.0 million, and a 13.9% year-over-year increase in net income of $410.0 million. Analysts view this positive performance as a sign of strong financial position and long-term growth potential. With rising demand for energy and its strategic investments towards clean energy, PG&E CORPORATION appears to be a solid investment opportunity.
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