PG&E Corp falls after Q1 profit miss on higher costs

Shares of U.S.-based utility PG&E Corp PCG.N fall 1.3% to $17.32 premarket

Company posts Q1 adjusted profit of 33 cents per share vs est. of 34 cents per share - data compiled by LSEG

PCG says average residential electric rates were lower in March than they were a year earlier

Expects to construct nearly 700 miles of underground powerlines and 500 miles of other wildfire safety system upgrades between 2025 and 2026

Company reported Q1 total operating revenue of $5.98 billion vs est. of $6.14 billion

Up till last close, stock down 12.3% YTD