PG&E Corporation (PCG) experienced mixed outcomes in their performance. Although they missed Q4 earnings, their revenues increased year-over-year. Their common stock dividend has been reinstated and their gas emissions have been reduced by 24%. Investor confidence is indicated by Principal Securities Inc. acquiring 13795 shares of PCG. They missed revenue by 13%, but it's expected that shareholders will likely approve the CEO's compensation package. Their bid for a minority sale was rejected by California amidst KKR talks, but they reached a 52-week high at $18.32. Their efforts towards decarbonization are commendable with an announcement of new production pilot and procurement. The company exceeded the higher-end of full-year 2023 guidance and increased its 2024 earnings guidance. Overall, they are strongly geared towards a clean energy future, with plans to provide customers with 100% greenhouse gas-free electricity by 2023. The company's general rate case will permanently fund wildfire risk reduction, critical gas, and electric safety, and identified more than 20 climate-tech solutions. However, allegations of them being involved in scams do seem to pose risks. Despite a few hiccups, they've posted strong Q1 earnings growth and increased their guidance for 2024.
Pg e Corporation PCG News Analytics from Tue, 25 Jul 2023 07:00:00 GMT to Sun, 19 May 2024 12:48:17 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -2
