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Home > Fortune 500 Companies > Pg&e Corp
Pg&e Corp
Pg&e Corp is a publicly traded company having a good stock performance result. Pg&e Corp is a fortune 500 stock listed company trading under PCG.
PG&E Corporation was incorporated in 1995 and is headquartered in San Francisco, California. PG&E Corporation, a holding company, engages in the generation, procurement, and transmission of electricity, as well as procurement, transportation, and storage of natural gas in the United States. Peter A. Darbee, a veteran of the energy, telecommunications, and investment banking industries, is Chairman of the Board, Chief Executive Officer, and President of PG&E Corporation. Darbee joined PG&E Corporation in 1999 as Senior Vice President and Chief Financial Officer.
PG&E Corporation’s consolidated net income reported in accordance with generally accepted accounting principles (GAAP) was 180 million dollars, or 0.49 dollars per share, for the fourth quarter of 2005. In the same period last year, consolidated net income was 871 million dollars, or 2.04 dollars per share, which reflected a 1.60 per dollars share one-time, non-cash gain associated with PG&E Corporation’s exit from its national energy business. For the full year 2005, PG&E Corporation’s reported GAAP results were 917 million dollars, or 2.37 dollar per share. Total consolidated net income in 2004 was 4.5 billion dollars, or 10.57 dollars per share. On a non- generally accepted accounting principles (GAAP) basis, PG&E Corporation’s earnings from operations were 906 million dollars or 2.34 dollars per share in 2005, compared with 901 million dollars, or 2.12 dollars per share in 2004.
The increase in earnings per share from operations for 2005 compared with 2004 reflected the positive impacts of share repurchases, higher equity earnings on rate base, higher gas transmission revenues, and electric transmission contract settlements among other items. These other items were partially offset primarily by the loss of earnings associated with the settlement regulatory asset and increased environmental remediation costs.
PG&E Corporation is raising its previously issued guidance for 2006 earnings from operations by 0.05 dollars per share to the range of 2.40 dollars to 2.50 dollars per share. This guidance is in line with PG&E Corporation’s recently announced target average annual growth rate of approximately 7.5 percent for earnings per share from operations for the period 2006-2010. This reflects the positive impact of share repurchases and the substantial annual capital investment forecast for the utility.
PG&E Corporation understands that a strong commitment to compliance and ethics is the foundation of a successful business. The company strives to ensure that every business decision is guided by its commitment to operate with high ethical standards.
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