PG&E Q1 2020 Earnings Report
Key Takeaways
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.
GAAP earnings were $0.57 per share for the first quarter of 2020, compared to $0.25 per share for the same period in 2019.
Non-GAAP core earnings were $0.89 per share for the first quarter of 2020, compared to $1.04 per share for the same period in 2019.
PG&E is on track for Bankruptcy Court confirmation of its Plan of Reorganization by June 30, 2020.
The Utility resolved the criminal investigation in Butte County, by entering into a plea agreement, under which the Utility will plead guilty to 84 counts of involuntary manslaughter and one count of unlawfully starting a fire stemming from the 2018 Camp Fire, as well as pay $4 million in associated fines and expenses.
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PG&E Revenue by Segment
Forward Guidance
PG&E Corporation is not providing guidance for 2020 GAAP earnings or non-GAAP core earnings. However, the company is providing factors affecting 2020 non-GAAP core earnings and guidance for non-core items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income