PG&E Corporation’s PCG adjusted operating earnings per share (EPS) of $1.33 in the fourth quarter of 2016 surpassed the Zacks Consensus Estimate of $1.29 by 3.1%. Earnings were also up 166% from 50 cents reported in the year-ago quarter.
GAAP earnings during the quarter were $1.36 per share, compared with 27 cents a year ago.
During full-year 2016, the company’s adjusted operating EPS came in at $3.76, which beat the Zacks Consensus Estimate of $3.72 by 1.1%.
During 2016, the company reported revenues of $17.67 billion, up 4.95% from $16.83 billion in 2015. The full-year revenue figure however missed the Zacks Consensus Estimate of $17.89 billion by 1.2%.
Electric revenues were up 1.5% from the 2015 levels while natural gas revenues rose 19.7%.
Total operating expenses in 2016 were $15.49 billion, up 1.1% from $15.33 billion in 2015. Costs increased due to higher operation and maintenance expenses as well as depreciation, amortization and decommissioning costs.
Operating income came in at $2.17 billion, up from $1.51 billion in 2015.
Interest expenses in 2016 were $829 million, compared with $773 million in the year-ago quarter.
The company has reiterated its guidance for 2017 adjusted earnings from operations at the range of $3.55−$3.75 per share.
PG&E Corporation expects to incur capital expenditure of $6 billion in 2017.
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.
American Electric Power Co., Inc. AEP reported fourth-quarter 2016 operating EPS of 67 cents, beating the Zacks Consensus Estimate of 55 cents by 21.8%.
NextEra Energy, Inc. NEE reported fourth-quarter 2016 adjusted EPS of $1.21, missing the Zacks Consensus Estimate of $1.29 by 6.2%. Reported earnings were, however, up 3.4% year over year.
CMS Energy Corp. CMS reported fourth-quarter 2016 adjusted EPS of 29 cents, in line with the Zacks Consensus Estimate. Quarterly earnings, however, tanked 23.7% year over year.
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