PG&E is one of the first energy companies in North America to deploy Standalone Power Systems as an alternative customer service offering to electricity provided through traditional grid infrastructure. Throughout PG&E's 70,000-square-mile Northern and Central California service area, pockets of remote customers are served via long electric distribution lines that in many cases traverse high fire-risk areas. Replacing these overhead powerlines with a reliable and low-carbon local energy source is an innovat ...

Financial Data and Key Metrics Changes - The core earnings per share for the first quarter came in at $0.37, an increase of $0.08 year-over-year, primarily driven by increased customer capital investment [41][54] - The CPUC rate base now provides an equity return of 10.7% as approved through the adjusted cost of capital mechanism [36] - Operating cash flow is forecasted to rise from $5 billion in 2023 to $8 billion in 2024, with a total of $50 billion in operating cash flow expected from 2024 through 2028 [57][81] Business Line Data and Key Metrics Changes - The company has exceeded its annual nonfuel O&M reduction target every year, achieving a reduction of 3% in 2022 and 5.5% in 2023 [27] - The plan includes $62 billion of customer capital investment over the next five years, with an additional $5 billion expected to be incorporated once it becomes affordable [75][79] Market Data and Key Metrics Changes - California is projected to experience 1% to 3% load growth per year in the near term, with upwards of 70% load growth over the next 20 years as the state moves towards carbon neutrality by 2045 [28] - The company has reduced its wildfire risk by 94% and has achieved a 68% reduction in ignitions compared to 2017 [45][46] Company Strategy and Development Direction - The company is committed to a five-year financing plan that does not include the proposed sale of a minority interest in Pacific Generation, reaffirming its earnings guidance and capital plan [23][25] - The strategy focuses on maintaining a conservative approach to financing while prioritizing customer capital investments and achieving a competitive dividend payout ratio [58][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage physical and financial risks associated with wildfires, highlighting the effectiveness of AB 1054 and the self-insurance model [44][100] - The company anticipates significant opportunities in the clean energy transition, with plans to support California's ambitious decarbonization goals [131][200] Other Important Information - The company plans to grow its dividend payout to a level closer to its regulated utility peers, with $2.5 billion included in the plan through 2028 [26] - The recent improvements in credit ratings are attributed to demonstrated financial and operational progress since 2020, particularly in wildfire risk mitigation [61][80] Q&A Session Summary Question: Can you elaborate on the timing of equity needs and the levers to manage equity needs over time? - The plan assumes a reasonable balance of utility debt, parent company debt, dividend growth, and routine equity financing [88] Question: What are your thoughts on the recent letter regarding sector wildfire risk? - The company believes California has made significant progress in mitigating both physical and financial risks, making it an investable region [91][114] Question: Can you clarify the dividend comment regarding slower growth initially and ramping up later? - The intent is to grow the dividend more slowly in the early years of the five-year plan, with a quicker ramp-up in the later years [97][119] Question: How do you view the potential for national policy regarding wildfire risk? - There is a possibility for a national safety regulator for wildfire, similar to FEMSA for gas pipelines, to establish safety standards [172] Question: What is the status of the Pac Gen transaction? - The company continues to advocate for the Pac Gen sale, believing it will bring affordability to bills and help accelerate the return to investment grade [149][150]

PG&E Corporation (PCG) reported first-quarter 2024 adjusted earnings per share (EPS) of 37 cents, which surpassed the Zacks Consensus Estimate of 35 cents by 5.7%. The bottom line also improved 27.6% from the year-ago quarter’s reported figure.The company reported GAAP earnings of 34 cents per share compared with 27 cents in the prior-year quarter.The year-over-year improvement in the bottom line can be attributed to an increase in customer capital investment, non-fuel operating and maintenance (O&M) saving ...

PG&E (PCG) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.71%. A quarter ago, it was expected that this utility holding company would post earnings of $0.45 per share when it actually produced earnings of $0.47, delivering a surprise of 4.44%.Over the last four quarters, the compan ...

OAKLAND, Calif., April 25, 2024 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) is on track to deliver solid 2024 results. Financial progress includes: GAAP earnings were $0.34 per share for the first quarter of 2024, compared to earnings of $0.27 for the same period in 2023. Non-GAAP core earnings were $0.37 per share for the first quarter of 2024, compared to earnings of $0.29 per share for the same period in 2023. 2024 EPS GAAP guidance updated in the range of $1.15 to $1.20 per share. 2024 non-GAAP core E ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number Exact Name of Registrant as Specified in its Charter State or Other Jurisdiction of Incorporation IRS Employer Identification Number 1-12609 PG&E Corporation California 94-3234914 1 ...

Investor Relations: invrel@pge-corp.com | Media: 415.973.5930 | www.pgecorp.com April 25, 2024 PG&E Corporation Reports First-Quarter Results; On Track to Deliver Solid 2024 OAKLAND — PG&E Corporation (NYSE: PCG) is on track to deliver solid 2024 results. Financial progress includes: Safety and operational progress during the first quarter of 2024 includes: "Our focus on safety and reducing wildfire risk continues every day as we deliver for our customers and our hometowns here in California. We remain comm ...

PG&E Corporation (PCG) is scheduled to report first-quarter 2024 results on Apr 25, before the opening bell.In the last reported quarter, the company reported a negative earnings surprise of 4.44%. The company has a trailing four-quarter average negative earnings surprise of 6.17%.Let’s take a closer look at the factors that are likely to be reflected in PG&E’s upcoming quarterly results.Factors to NoteDuring most of the first quarter, PCG’s service territories observed mixed temperature patterns. While the ...

GHG-Free Electricity Deliveries Included 53% Nuclear, 34% Eligible-Renewable Resources and 13% Hydroelectric PG&E has brought online more than 2,100 megawatts of new battery storage capacity to help integrate renewable energy sources and enhance reliability  OAKLAND, Calif., April 22, 2024 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) retail customers received 100% greenhouse gas-free electricity in 2023, making the company's portfolio of electricity sources one of the world's cleanest. In 2023, 3 ...

PG&E, The PG&E Corporation Foundation and PG&E Coworkers Contributed a Total of More than $31 Million in 2023 OAKLAND, Calif., April 19, 2024 /PRNewswire/ -- PG&E and The PG&E Corporation Foundation (PG&E Foundation) provided $25.6 million in charitable contributions in 2023, along with PG&E coworkers who contributed another $5.9 million — all benefitting nearly 5,000 nonprofits and schools. Charitable contributions are funded by shareholders, not PG&E customers. PG&E's Community Relations 2023 Impact Repor ...