PG&E Corporation PCG is scheduled to report third-quarter 2026 results on Oct. 22, before market open. The company delivered an earnings surprise of 8.11% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note Ahead of PCG’s Q3 Earnings
Growing electricity demand driven by increased electric vehicle adoption, data center expansion and building electrification is expected to have supported energy consumption, contributing to the company’s growth and expansion.
Higher anticipated sales and lower non-fuel operating and maintenance expenses are likely to have positively impacted PG&E’s third-quarter earnings.
In September 2026, Pacific Gas and Electric Company, a PG&E subsidiary, partnered with Rewiring America and Google to launch a first-of-its-kind virtual power plant initiative called SHARE (Smart Home Assets for Reliability and Efficiency). The program aims to integrate nearly 21,000 existing home energy devices, including batteries and smart technologies, to manage electricity demand during peak periods and support grid operations. This initiative is expected to improve grid reliability, expand electricity capacity, reduce energy costs and support a more resilient power supply for customers.
The introduction of revised electric and gas rates in previous quarters may have improved cost recovery, enhancing earnings visibility during the quarter.
Q3 Expectations for PCG
The Zacks Consensus Estimate for sales is pegged at $6.59 billion, which indicates year-over-year growth of 5.4%.
The consensus estimate for earnings is pegged at 42 cents, which calls for a year-over-year decline of 16%.
What the Zacks Model Unveils for PCG
Our proven model does not conclusively predict an earnings beat for PG&E this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.
Pacific Gas & Electric Co. Price and EPS Surprise 
Pacific Gas & Electric Co. Price and EPS Surprise
Pacific Gas & Electric Co. price-eps-surprise | Pacific Gas & Electric Co. Quote
Earnings ESP: The company’s Earnings ESP is -1.21%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PCG currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry, as these have the right combination of elements to post an earnings beat this reporting cycle.
CMS Energy Corporation CMS is scheduled to report its third-quarter 2026 results on Oct. 27, before market open. It has an Earnings ESP of +9.69% and a Zacks Rank of 3 at present.
CMS’ long-term (three to five years) earnings growth rate is 7.07%. The Zacks Consensus Estimate for earnings stands at $1.21 per share, which implies a year-over-year increase of 30.1%.
NiSource Inc. NI is slated to report its third-quarter 2026 results on Oct. 28, before market open. It has an Earnings ESP of +2.27% and a Zacks Rank of 3 at present.
NI’s long-term earnings growth rate is 6.55%. The Zacks Consensus Estimate for earnings is pegged at 22 cents per share, which suggests a year-over-year rise of 15.8%.
American Electric Power Company, Inc. AEP is slated to report its third-quarter 2026 results on Oct. 28, before market open. It has an Earnings ESP of +4.67% and a Zacks Rank of 3 at present.
AEP’s long-term earnings growth rate is 7.40%. The Zacks Consensus Estimate for earnings stands at $2 per share, which implies a year-over-year jump of 11.1%.
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Pacific Gas & Electric Co. (PCG) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).