PG&E Q2 2026: GAAP EPS $0.33 misses as core EPS hits $0.40
PG&E beat on core earnings but missed on GAAP: $0.40 non-GAAP core EPS versus $0.31 a year ago, while GAAP EPS of $0.33 fell short of the $0.368 consensus. Revenue was essentially flat at $5.902 billion. Read this quarter for the reaffirmed $1.64-$1.66 full-year core guidance and for the -$2.061 billion free cash flow, which is the number that drives everything else.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $0.33 missed the $0.368 consensus, even though it improved from $0.24 a year ago; the miss is small but real. Non-GAAP core EPS was $0.40 versus $0.31, which is the number management wants you to focus on, and which beat the consensus estimate. Net income of $761 million compared with $549 million a year earlier, helped by an $87 million income tax benefit instead of a $20 million tax charge.
Second-quarter revenue was $5.902 billion, up a rounding-error 0.1% from $5.898 billion a year earlier. The first half tells a better story: $12.783 billion versus $11.881 billion, a 7.6% increase, so the second quarter looks like a pause rather than a decline. The reported gross margin of 84.5% is the headline profitability metric here.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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