PG&E Q4 2021 Earnings Report
Key Takeaways
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%.
GAAP earnings were $0.22 per share for the fourth quarter of 2021, compared to earnings of $0.09 per share for the same period in 2020.
Non-GAAP core earnings were $0.28 per share for the fourth quarter of 2021, compared to $0.21 per share for the same period in 2020.
Completed Enhanced Vegetation Management work on 1,983 miles of powerlines in extreme or elevated fire-risk areas, exceeding goal by 10%.
Preferred Stock Dividend Information On February 8, 2022, the Utility declared payment of all cumulative and unpaid dividends on the Utility’s preferred stock as of January 31, 2022 totaling $59.1 million payable on May 13, 2022 to holders of record on April 29, 2022 and declared a dividend on the Utility’s preferred stock totaling $3.5 million that will be accrued during the three-month period ending April 30, 2022 payable on May 15, 2022 to holders of record on April 29, 2022.
PG&E
PG&E
PG&E Revenue by Segment
Forward Guidance
PG&E Corporation is initiating 2022 GAAP earnings guidance in the range of $0.89 to $1.23 per share, which includes non-core items. On a non-GAAP basis, the guidance range for projected 2022 core earnings is initiated at $1.07 to $1.13 per share.
Positive Outlook
- 2022 EPS guidance initiated for GAAP earnings in the range of $0.89 to $1.23
- 2022 EPS guidance initiated for non-GAAP core earnings in the range of $1.07 to $1.13 per share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income