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Mar 31, 2022
PG&E Q1 2022 Earnings Report
PG&E Corporation's first-quarter financial results were reported.
Key Takeaways
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.
Recorded GAAP earnings were $0.22 per diluted share for the first quarter of 2022, compared to earnings of $0.06 per diluted share for the same period in 2021.
Non-GAAP core earnings were $0.30 per diluted share for the first quarter of 2022, compared to earnings of $0.23 per diluted share for the same period in 2021.
2022 EPS guidance adjusted for GAAP earnings in the range of $0.85 to $1.16 per diluted share and reaffirmed non-GAAP core earnings in the range of $1.07 to $1.13 per diluted share.
Expanding enhanced powerline safety settings to all circuits in high fire threat districts.
Revenue by Segment
Forward Guidance
PG&E Corporation is adjusting 2022 GAAP earnings guidance in the range of $0.85 to $1.16 per diluted share, which includes non-core items. On a non-GAAP basis, the guidance range for projected 2022 non-GAAP core earnings is reaffirmed at $1.07 to $1.13 per diluted share.
Positive Outlook
- Estimated EPS on a non-GAAP Core Earnings basis between $1.07 and $1.13
Challenges Ahead
- Estimated Earnings on a GAAP basis between ~$0.85 and ~$1.16
- Amortization of Wildfire Fund contribution between ~0.16 and ~0.16
- Bankruptcy and legal costs between ~0.10 and ~0.04
- Investigation remedies between ~0.05 and ~0.05
- Wildfire-related costs, net of insurance between ~0.05 and ~0.04
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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