PG&E Updates FY22 Earnings View; Sees FY23 Earnings In Line Or Below Market - Update

(RTTNews) - Energy company PG&E Corp. (PCG), while announcing third-quarter results, on Thursday updated its fiscal 2022 outlook, and initiated forecast for fiscal 2023.

PG&E updated 2022 earnings guidance in the range of $0.80 to $1.01 per share. Further, the outlook for core earnings is narrowed to $1.09 to $1.11 per share.

Previously, the company expected earnings in a range of $0.74 to $1.02 per share and core earnings in a range of $1.07 to $1.13 per share.

On average, 13 analysts polled by Thomson Reuters expect earnings of $1.09 per share for the year. Analysts' estimates typically exclude special items.

For fiscal 2023, PG&E expects earnings in the range of $0.98 to $1.21 per share, and core earnings at $1.19 to $1.23 per share.

Analysts estimate earnings of $1.23 per share for fiscal 2023.