PG&E Earnings Reports

PG&E Corporation delivered solid financial results in the third quarter of 2025, with significant increases in both GAAP and non-GAAP core earnings compared to the previous year. The company's operational focus on safety and affordable, resilient energy continued, with residential electric rates decreasing in 2025 and further reductions expected in 2026. The strong performance was primarily driven by increased customer capital investment and net O&M savings.

PG&E delivered consistent financial performance in Q2 2025 with stable EPS, steady core earnings, and continued investments in infrastructure and safety upgrades.

PG&E's Q1 2025 results showed slightly lower earnings and income year-over-year due to a reduced return on equity and dilutive effects from equity issuance. However, the company continued investing in infrastructure upgrades and customer expansion while managing rate stability and safety improvements.

PG&E reported stable revenue but a decline in net income and EPS due to the impact of the 2023 General Rate Case. The company exceeded cost reduction targets and secured a $15 billion loan guarantee for grid modernization.

PG&E Corporation reported GAAP earnings of $0.27 per share for the third quarter of 2024, compared to $0.16 for the same period in 2023. Non-GAAP core earnings were $0.37 per share, compared to $0.24 per share in 2023. The company is updating its 2024 EPS GAAP guidance to a range of $1.09 to $1.14 per share and narrowing its 2024 non-GAAP core EPS guidance to a range of $1.34 to $1.37 per share.

PG&E Corporation reported GAAP earnings of $0.24 per share and non-GAAP core earnings of $0.31 per share for the second quarter of 2024. The company is on track to deliver solid 2024 results, driven by customer capital investment and operating and maintenance savings.

PG&E Corporation reported a strong first quarter with GAAP earnings of $0.34 per share and non-GAAP core earnings of $0.37 per share. The company is on track to deliver solid 2024 results, driven by customer capital investment and operating & maintenance savings. 2024 EPS GAAP guidance updated in the range of $1.15 to $1.20 per share and non-GAAP core EPS guidance reaffirmed at $1.33 to $1.37 per share.

PG&E Corporation's Q4 2023 GAAP earnings were $0.43 per share, and non-GAAP core earnings were $0.47 per share. The company increased its 2024 earnings guidance and highlighted its progress in reducing wildfire ignitions and O&M costs.

PG&E Corporation reported a decrease in GAAP earnings to $0.16 per diluted share for Q3 2023, compared to $0.21 per diluted share in Q3 2022. Non-GAAP core earnings also decreased to $0.24 per diluted share from $0.29 per diluted share in the same period last year. The company is updating 2023 GAAP earnings guidance to $0.99 to $1.08 per diluted share and reaffirming 2023 non-GAAP core earnings guidance in the range of $1.19 to $1.23 per diluted share.

PG&E Corporation reported second quarter GAAP earnings of $0.19 per diluted share, compared to $0.17 per diluted share for the same period in 2022. Non-GAAP core earnings were $0.23 per diluted share, compared to $0.25 per diluted share in 2022. The company updated its 2023 EPS guidance for GAAP earnings to $1.04 to $1.13 per share and reaffirmed its non-GAAP core earnings guidance of $1.19 to $1.23 per share.

PG&E Corporation reported first-quarter 2023 income available for common shareholders of $569 million, or $0.27 per diluted share. Non-GAAP core earnings were $615 million, or $0.29 per diluted share. The company is on track to meet earnings targets and reduce non-fuel operating and maintenance costs by 2%.

PG&E Corporation reported GAAP earnings of $0.24 per diluted share for the fourth quarter of 2022, compared to $0.22 per diluted share for the same period in 2021. Non-GAAP core earnings were $0.26 per diluted share for the fourth quarter of 2022, compared to $0.28 per diluted share for the same period in 2021. The company updates 2023 GAAP earnings guidance of $0.98 to $1.13 per Diluted Share, and reaffirms 2023 Non-GAAP Core Earnings Guidance of $1.19 to $1.23 per Diluted Share.

PG&E Corporation reported third-quarter 2022 GAAP earnings of $0.21 per diluted share, a significant improvement compared to losses of $(0.55) per diluted share in the same period of 2021. Non-GAAP core earnings were $0.29 per diluted share, up from $0.24 in the prior year. The company updated its 2022 EPS guidance for GAAP earnings to $0.80 to $1.01 per diluted share and narrowed non-GAAP core earnings guidance to $1.09 to $1.11 per diluted share.

PG&E Corporation reported second-quarter GAAP earnings of $0.17 per diluted share and non-GAAP core earnings of $0.25 per diluted share. The company reaffirmed its non-GAAP core earnings guidance for 2022 at $1.07 to $1.13 per diluted share and adjusted GAAP earnings guidance to $0.74 to $1.02 per diluted share.

PG&E Corporation reported GAAP earnings of $0.22 per diluted share and non-GAAP core earnings of $0.30 per diluted share for the first quarter of 2022. The company is adjusting 2022 GAAP earnings guidance to $0.85 to $1.16 per diluted share and reaffirmed non-GAAP core earnings guidance to $1.07 to $1.13 per diluted share.

PG&E Corporation reported Q4 2021 GAAP earnings of $0.22 per share, compared to $0.09 per share for the same period in 2020. Non-GAAP core earnings were $0.28 per share for Q4 2021, compared to $0.21 per share in Q4 2020. The company exceeded its enhanced vegetation management goal by 10%.

PG&E Corporation reported a GAAP loss of $0.55 per share for the third quarter of 2021, compared to earnings of $0.04 per share for the same period in 2020. Non-GAAP core earnings were $0.24 per share for the third quarter of 2021, compared to $0.22 per share for the same period in 2020. The company adjusted its 2021 EPS guidance for GAAP earnings to a range of $(0.12) to $0.07 and reaffirmed non-GAAP core earnings of $0.95 to $1.05 per share.

PG&E Corporation reported second-quarter 2021 income available for common shareholders of $397 million, or $0.18 per share, compared to losses of $1,972 million, or $3.73 per share, for the same period in 2020. Non-GAAP core earnings were $575 million, or $0.27 per share, compared with $542 million, or $1.03 per share, during the same period in 2020.

PG&E Corporation reported first-quarter 2021 GAAP earnings of $0.06 per share, a decrease from $0.57 per share in the same period of 2020. Non-GAAP core earnings were $0.23 per share, down from $0.89 per share in the prior year. The company is adjusting its 2021 GAAP earnings guidance to $0.07 to $0.21 per share and reaffirmed its non-GAAP core earnings guidance of $0.95 to $1.05 per share.

PG&E Corporation reported Q4 2020 GAAP earnings of $0.09 per share and non-GAAP core earnings of $0.21 per share. The company adjusted its 2021 EPS guidance for GAAP losses to a range of $0.52 to $0.38 and reaffirmed non-GAAP core earnings guidance of $0.95 to $1.05 per share. A 10 percent non-GAAP core earnings per share growth guidance was introduced over its five-year plan.

PG&E Corporation reported GAAP earnings of $0.04 per share for the third quarter of 2020, a significant improvement compared to losses of $3.06 per share for the same period in 2019. However, non-GAAP core earnings were $0.22 per share, down from $1.11 per share in the third quarter of 2019. The company reaffirmed its 2020 non-GAAP core earnings guidance of $1.60 to $1.63 per share and adjusted its GAAP losses guidance to a range of $1.00 to $1.06. PG&E emerged from Chapter 11 bankruptcy on July 1, 2020, and is focused on wildfire mitigation and customer service.

PG&E Corporation reported a GAAP loss of $3.73 per share for the second quarter of 2020, compared to a loss of $4.83 per share for the same period in 2019. Non-GAAP core earnings were $1.03 per share for the second quarter of 2020, compared to $1.10 per share for the same period in 2019. The company initiated 2020 EPS guidance for GAAP losses in the range of $0.99 to $1.05 and non-GAAP core earnings of $1.60 to $1.63 per share.

PG&E Corporation reported first-quarter 2020 GAAP earnings of $0.57 per share, compared to $0.25 per share for the same period in 2019. Non-GAAP core earnings were $0.89 per share, compared to $1.04 per share in 2019. The company continues to progress in its Chapter 11 reorganization and is on track for court confirmation of its Plan by June 30, 2020.

PG&E Corporation reported a GAAP net loss of $3.6 billion, or $6.84 per share, for the fourth quarter of 2019. Non-GAAP core earnings were $360 million, or $0.68 per share, excluding non-core items primarily driven by charges for estimated third-party wildfire claims. The company is progressing with its Chapter 11 reorganization, aiming for confirmation by June 30, 2020.