PG&E Corp. (NYSE: PCG) reported Q2 EPS of $0.66, $0.26 worse than the analyst estimate of $0.92. Revenue for the quarter came in at $4.17 billion versus the consensus estimate of $4.37 billion.

2016 Earnings Guidance

PG&E Corporation is adjusting the previously issued guidance range for projected GAAP earnings to $2.83 to $3.15 per share to reflect the timing impacts of Gas Transmission and Storage revenues, estimates for probable capital disallowance in the 2015 GT&S rate case, and estimates of Butte fire costs net of insurance. The GAAP range also includes forecasts for expected pipeline-related costs related to transmission rights-of-way, legal and regulatory expenses related to natural gas matters and regulatory communications, and fines and penalties. PG&E Corporation is maintaining its previously issued 2016 guidance for non-GAAP earnings from operations in the range of $3.65 to $3.85 per share. Guidance is based on various assumptions and forecasts, including those relating to expenses, authorized revenues, capital expenditures, rate base, and equity issuances.

PG&E Corporation discloses historical financial results and provides guidance based on "earnings from operations" in order to provide a measure that allows investors to compare the underlying financial performance of the business from one period to another, exclusive of items impacting comparability. See the accompanying tables for a reconciliation of earnings from operations to consolidated income available for common shareholders for the second quarter 2016 and the 2016 guidance, respectively.

For earnings history and earnings-related data on PG&E Corp. (PCG) click here.