PG&E Profit Rises from Lower Costs on Flat Revenue

Dow Jones

Jul 23

PG&E recorded a bigger profit in the second quarter on flat revenue as its costs declined.

The Oakland, Calif., utility posted a profit of $761 million, or 33 cents a share, compared with $549 million, or 24 cents a share, in the same quarter a year earlier.

Stripping out one-time items, adjusted earnings were 40 cents a share. Analysts polled by FactSet had been expecting 36 cents a share.

Revenue came in roughly flat year-over-year at $5.9 billion, below analyst targets for $6.2 billion. A small decline in the company's electric unit was offset by gains in its natural gas segment.

The company's operating expenses fell 3.5% to $4.64 billion, despite higher electricity costs as its operating and maintenance costs came down.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 23, 2026 06:36 ET (10:36 GMT)

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Analysts polled by FactSet had been expecting 36 cents a share. \n\n\n  Revenue came in roughly flat year-over-year at $5.9 billion, below analyst targets for $6.2 billion. A small decline in the company's electric unit was offset by gains in its natural gas segment. \n\n\n  The company's operating expenses fell 3.5% to $4.64 billion, despite higher electricity costs as its operating and maintenance costs came down. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 23, 2026 06:36 ET (10:36 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}