Filing Flows › PG&E (PCG) › Q3 2026 › vs Q2 2026
PG&E (PCG) Q3 2026 vs Q2 2026 (quarter over quarter)
PG&E's revenue rose $286M (+5%) from $5.9B in Q2 2026 to $6.2B in Q3 2026. The biggest changes: Electric +$272M (+6%); Natural Gas, US Regulated +$14.0M (+0.9%). Operating margin 20.2% against 21.4% (-1.2 pts).
PG&E, Q3 2026: revenue $6.2B (-1% year over year), operating margin 20.2%, net earnings $749M, operating cash flow $2.5B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 20.2% | 21.4% | -1.2 pts |
| Net margin | 12.1% | 12.4% | -0.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Electric | $4.7B | $4.4B | $272M | +6% |
| Natural Gas, US Regulated | $1.5B | $1.5B | $14.0M | +0.9% |
| Revenue | $6.2B | $5.9B | $286M | +5% |
| Operating profit | $1.2B | $1.3B | −$14.0M | -1% |
| Costs & expenses | $4.9B | $4.6B | $300M | +6% |
| Pre-tax earnings | $681M | $674M | $7.0M | +1% |
| Other expense, net | $568M | $589M | −$21.0M | -4% |
| Income tax benefit | $95.0M | $87.0M | $8.0M | +9% |
| Net earnings | $749M | $733M | $16.0M | +2% |
| Minority interests | $27.0M | $28.0M | −$1.0M | -4% |
| Working capital & other | $1.8B | $173M | $1.6B | +914% |
| Operating cash flow | $2.5B | $906M | $1.6B | +176% |
| Capital expenditures | $3.3B | $3.0B | $331M | +11% |
| Negative free cash flow (OCF − capex) | $794M | $2.1B | −$1.3B | -61% |
Questions
How much did PG&E's revenue grow quarter over quarter in Q3 2026?
PG&E's revenue rose $286M (+5%) from $5.9B in Q2 2026 to $6.2B in Q3 2026.
What drove PG&E's revenue change in Q3 2026?
Electric +$272M (+6%); Natural Gas, US Regulated +$14.0M (+0.9%).