PG&E Corp. Q3 Profit Decreases, misses estimates

(RTTNews) - PG&E Corp. (PCG) revealed earnings for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line totaled $348 million, or $0.16 per share. This compares with $456 million, or $0.21 per share, in last year's third quarter.

Excluding items, PG&E Corp. reported adjusted earnings of $513 million or $0.24 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 9.3% to $5.89 billion from $5.39 billion last year.

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

-Earnings (Q3): $348 Mln. vs. $456 Mln. last year. -EPS (Q3): $0.16 vs. $0.21 last year. -Analyst Estimates: $0.29 -Revenue (Q3): $5.89 Bln vs. $5.39 Bln last year.

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