Pacific Gas & Electric Co (PCG) has reported 26.13 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $391 million, or $0.77 a share in the quarter, compared with $310 million, or $0.63 a share for the same period last year.
Revenue during the quarter grew 5.71 percent to $4,810 million from $4,550 million in the previous year period. Gross margin for the quarter expanded 285 basis points over the previous year period to 64.80 percent. Total expenses were 86.69 percent of quarterly revenues, down from 88.02 percent for the same period last year. This has led to an improvement of 133 basis points in operating margin to 13.31 percent.
Operating income for the quarter was $640 million, compared with $545 million in the previous year period.
"Results for the third quarter reflect PG&E's solid operating performance and strong capital investment program. Looking ahead, we continue to see significant growth and investment opportunities in support of our commitment to deliver safe, reliable, affordable and clean energy for customers," said PG&E Corporation chairman and chief executive officer Tony Earley.
For fiscal year 2016, the company expects diluted earnings per share to be in the range of $2.79 to $3.05.
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