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PG&E PCG Q2 2026 earnings

Reported July 23, 2026 · Before market open

Revenue$5.9BMiss by $302.3M
Adjusted EPS$0.40Beat by $0.04
Revenue estimate$6.2B
EPS estimate$0.36
“Our PG&E team continues to make meaningful progress delivering safe, affordable, reliable, and clean energy to our customers. We’re encouraged by the engagement around California wildfire liability reform and are advocating for a durable solution that delivers for customers and investors,”
Management

Next report

Oct 22, 2026 (in 2 months)
Revenue estimate$6.8B
EPS estimate$0.46

Financials

Q2 2026

Income statement

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Revenue$5.9B+0.1%
Operating income$1.3B+15.2%
Net income$761.0M+38.6%
EPS (diluted)$0.33+37.5%

Balance sheet

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Cash & equivalents$1.2B+70.8%
Total debt$63.6B+13.6%
Total equity$33.9B+8.7%
Total assets$145.08B+6.4%

Cash flow

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Operating cash flow$906.0M-14.3%
CapEx$3.0B-3.2%
Free cash flow-$2.1B-2.6%

Valuation & ratios

Valuation

as of 08/27/26
See full
Market cap$40.13B+21.1%
Enterprise value$102.53B+15.9%
P/E12.7×-0.9×
P/S1.6×+0.2×

Profitability

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Operating margin20%+2.1pp
Net margin12.3%+2.3pp
FCF margin-16.5%—

Returns & leverage

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Return on equity9.7%+1.2pp
Debt / equity1.9×+0.1×
Current ratio1.2×+0.3×

Segments

By product

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Electric$5.0B+9.6%
Natural Gas, US Regulated$1.5B+2.0%

FAQ

When did PG&E report Q2 2026 earnings?
PG&E (PCG) reported Q2 2026 earnings on July 23, 2026 before market open.
What were PG&E's Q2 2026 revenue and EPS?
PG&E reported revenue of $5.9B and adjusted eps of $0.40 for Q2 2026.
Did PG&E beat estimates in Q2 2026?
Revenue missed the consensus estimate of $6.2B by $302.3M. EPS beat the consensus estimate of $0.36 by $0.04.
How did PG&E's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 0.1% from $5.9B a year earlier.
Where can I find PG&E's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001004980-26-000047) and the 10-Q periodic report (0001004980-26-000048) directly on SEC EDGAR. The filing index links above go to sec.gov.