PG&E Corp. Q1 Profit Increases, Inline With Estimates

(RTTNews) - PG&E Corp. (PCG) released a profit for its first quarter that increased from last year in line with the Street estimates.

The company's earnings came in at $569 million, or $0.27 per share. This compares with $475 million, or $0.22 per share, in last year's first quarter.

Excluding items, PG&E Corp. reported adjusted earnings of $615 million or $0.29 per share for the period.

Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $6.21 billion from $5.80 billion last year.

PG&E Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $569 Mln. vs. $475 Mln. last year. -EPS (Q1): $0.27 vs. $0.22 last year. -Analyst Estimate: $0.29 -Revenue (Q1): $6.21 Bln vs. $5.80 Bln last year.

-Guidance: Full year EPS guidance: $1.19 to $1.23