Published: Feb. 22, 2024 at 6:39 a.m. ET
By Will Feuer
PG&E posted higher earnings for the fourth quarter, driven by growth across both electric and natural gas.
The San Francisco-based utility operator, which emerged from bankruptcy in 2020 after a spate of forest fires, posted a fourth-quarter profit of $919 million, or 43 cents a share, up from $513 million, or 24 cents a share,…
By Will Feuer
PG&E posted higher earnings for the fourth quarter, driven by growth across both electric and natural gas.
The San Francisco-based utility operator, which emerged from bankruptcy in 2020 after a spate of forest fires, posted a fourth-quarter profit of $919 million, or 43 cents a share, up from $513 million, or 24 cents a share, in the same period a year earlier.
Adjusted earnings were 47 cents a share. Analysts surveyed by FactSet expected 46 cents a share.
For the full year, revenue rose almost 13% to $24.4 million, beating the $23.3 million that analysts expected.
The company also raised its 2024 adjusted earnings guidance by two cents a share to $1.33 to $1.37 a share.
Write to Will Feuer at Will.Feuer@wsj.com
Read More: PG&E Profit Rises After Growth in Electric, Natural Gas