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How PG&E (PCG) makes money
PG&E (PCG) made $6.2B of revenue in the third quarter 2026 (Q3 2026), -1% from a year earlier. Electric brought in $4.7B (75%); Natural Gas, US Regulated brought in $1.5B (25%). Of every dollar of revenue, 20¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Electric | $4.7B | 75.3% | +6% | -2% |
| Natural Gas, US Regulated | $1.5B | 24.7% | +0.9% | +2% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $6.2B | 100.0% |
| Operating profit | $1.2B | 20.2% |
| Net earnings | $749M | 12.1% |
| Operating cash flow | $2.5B | 40.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $6.2B | -1% |
| Q2 2026 | $5.9B | +0.1% |
| Q1 2026 | $6.9B | +15% |
| Q4 2025 | $6.8B | +3% |
| Q3 2025 | $6.2B | +5% |
| Q2 2025 | $5.9B | -2% |
| Q1 2025 | $6.0B | +2% |
From PG&E's 10-Q filed Oct 22, 2026 (on EDGAR).
Questions
How does PG&E make money?
PG&E (PCG) made $6.2B of revenue in the third quarter 2026 (Q3 2026), -1% from a year earlier. Electric brought in $4.7B (75%); Natural Gas, US Regulated brought in $1.5B (25%). Of every dollar of revenue, 20¢ was left as operating profit, 12¢ was left as net earnings.
What is PG&E's biggest business?
Electric: $4.7B in the third quarter 2026, 75% of revenue, -2% from a year earlier.
What is PG&E's profit margin?
Net earnings were $749M, 12.1% of revenue, in the third quarter 2026; the operating margin was 20.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.