PG&E reports Q3 core EPS 24c, consensus 29c

Reports Q3 revenue $5.89B, consensus $5.48B. “We are making the kind of progress on system safety that our customers and investors are expecting. We’ve continued to cut wildfire ignitions from our equipment this year, on top of last year’s reductions. We’re also on track to reach our 2023 goal to put 350 miles of powerlines underground, part of our breakthrough goal to underground 10,000 miles in the highest fire-risk areas. Undergrounding achieves dramatically greater risk reduction and better reliability at a lower long-term cost compared to maintaining overhead lines,” said PG&E Corporation CEO Patti Poppe.