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Jun 30, 2022
PG&E Q2 2022 Earnings Report
PG&E Corporation's financial performance was reported for Q2 2022, with GAAP earnings of $0.17 per diluted share and non-GAAP core earnings of $0.25 per diluted share.
Key Takeaways
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.
Recorded GAAP earnings were $0.17 per diluted share for the second quarter of 2022, compared to earnings of $0.18 per diluted share for the same period in 2021.
Non-GAAP core earnings were $0.25 per diluted share for the second quarter of 2022, compared to earnings of $0.27 per diluted share for the same period in 2021.
2022 EPS guidance for GAAP earnings was adjusted to a range of $0.74 to $1.02 per diluted share.
Non-GAAP core earnings guidance was reaffirmed in the range of $1.07 to $1.13 per diluted share.
PG&E
PG&E
PG&E Revenue by Segment
Revenue by Segment
Electric Revenue
CapyFin.comNatural Gas Revenue
CapyFin.com Forward Guidance
PG&E Corporation is adjusting 2022 GAAP earnings guidance in the range of $0.74 to $1.02 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 ~$1.07
- Estimated EPS on a non-GAAP Core Earnings basis ~$1.13
- Low Estimated Non-Core Items: (Prior period net regulatory impact) ~$(0.01)
- High Estimated Non-Core Items: (Prior period net regulatory impact) ~$(0.01)
- Fire Victim Trust tax benefit net of securitization (7)~(0.14)
Challenges Ahead
- Estimated Earnings on a GAAP basis~$0.74
- Estimated Earnings on a GAAP basis~$1.02
- Estimated Non-Core Items: (Amortization of Wildfire Fund contribution (2)~0.16
- Estimated Non-Core Items: (Bankruptcy and legal costs (3)~0.14
- Estimated Non-Core Items: (Wildfire-related costs, net of insurance (4)~0.10
Revenue & Expenses
Visualization of income flow from segment revenue to net income