PG&E Corp. Guides FY20, FY21 Adj. EPS Well Below Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, PG&E Corp. (PCG) initiated earnings and adjusted earnings guidance for the full-year 2020 and 2021.

For fiscal 2020, the company now projects a loss in a range of $0.99 to $1.05 per share and adjusted core earnings in a range of $1.60 to $1.63 per share.

For fiscal 2021, the company now expects earnings in a range of $0.17 to 0.29 per share and adjusted core earnings in a range of $0.95 to $1.05 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.04 per share for fiscal 2020 and $1.66 per share for fiscal 2021. Analysts' estimates typically exclude special items.

PG&E Corp. and Pacific Gas and Electric Co. emerged from Chapter 11 on July 1, 2020 after successfully completing the restructuring process and achieving approval for its Plan of Reorganization confirmed by the United States Bankruptcy Court.