2025 THIRD QUARTER EARNINGS Delivering For Customers AND Investors October 23, 2025 1 Forward-Looking Statements Planning For Wide-Ranging Wildfire Policy Reform… This presentation and the oral remarks made in connection with it contain statements regarding PG&E Corporation's and Pacific Gas and Electric Company's (the "Utility") future performance, including expectations, objectives, and forecasts about operating results (including 2025 and 2026 non-GAAP core earnings), debt and equity issuances, refinanci ...

Core Insights - The U.S. stock market is at a critical inflection point, influenced by a government shutdown and economic uncertainty, while the utility sector is experiencing a resurgence due to AI and data-driven infrastructure [1][2] Utility Sector Performance - The utility sector is witnessing record electricity demand, primarily driven by data centers, which is expected to enhance load growth and top-line growth for major utilities in Q3 [2][6] - U.S. power demand increased by 2.3% year-over-year through September, largely attributed to growth in data center hubs [7] Earnings Outlook - The total earnings for the utility sector are projected to decline by 2.4% despite a revenue growth of 5.8% in Q3 [10] - PG&E Corp is expected to report earnings of 46 cents per share on revenues of $6.55 billion, indicating a year-over-year bottom-line growth of 24.3% and top-line improvement of 10.2% [10] - CenterPoint Energy is anticipated to report earnings of 46 cents per share on revenues of $1.98 billion, suggesting a year-over-year bottom-line growth of 48.4% and top-line improvement of 6.6% [11] Financial Considerations - The utility sector is capital-intensive, and while recent Federal Reserve rate cuts may provide some relief, the cost of debt for funding infrastructure projects remains a critical concern [8][9] - Higher interest expenses may have negatively impacted the sector's bottom line, necessitating close monitoring of how utilities manage their balance sheets and growth funding [9][13] Investment Opportunities - The current environment presents a timely opportunity for ETF investors to evaluate funds positioned to benefit from the utility sector's performance amid electrification and AI expansion [3][14] - ETFs such as Utilities Select Sector SPDR Fund, Vanguard Utilities ETF, and others provide exposure to the sector's long-term growth story while mitigating risks associated with individual companies [14]

PG&E (PCG) came out with quarterly earnings of $0.5 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +13.64%. A quarter ago, it was expected that this utility holding company would post earnings of $0.33 per share when it actually produced earnings of $0.31, delivering a surprise of -6.06%.Over the last four quarters, the comp ...

Utility firm PG&E forecast its full-year 2026 profit narrowly above Wall Street expectations on Thursday, on the back of soaring power demand. ...

Core Insights - A wave of positive third-quarter 2025 earnings reports has boosted markets, with several major companies exceeding analyst expectations, while ongoing geopolitical developments, particularly concerning Ukraine and Russia, remain a significant focus [2]. Strong Q3 Earnings Performance Across Sectors - Hasbro (HAS) reported adjusted EPS of $1.68, beating the estimated $1.63, with revenue of $1.39 billion surpassing the forecast of $1.34 billion. The company raised its full-year adjusted EBITDA guidance to $1.24 billion to $1.26 billion from $1.17 billion to $1.20 billion, driven by growth in its Wizards of the Coast and Digital Gaming segments [3][10]. - Honeywell (HON) posted adjusted EPS of $2.82, significantly higher than the estimated $2.57, with quarterly revenue of $10.41 billion exceeding the $10.15 billion estimate. The company updated its full-year sales outlook to between $40.78 billion and $40.98 billion and adjusted EPS to $10.60 to $10.70 [4][10]. - First Citizens BancShares (FCNCA) announced adjusted EPS of $44.62, outperforming the $41.74 estimate, with net interest income of $1.73 billion above the $1.71 billion estimate and a net interest margin of 3.26%, slightly higher than the estimated 3.24% [5][10]. - TransUnion (TRU) reported adjusted net income of $216 million against an estimate of $204.3 million, with Q3 EPS of $0.49 and adjusted EPS of $1.10 versus an estimate of $1.04. Revenue for the quarter was $1,170 million, exceeding the $1,133 million estimate [6]. - CenterPoint Energy (CNP) reported adjusted EPS of $0.50, surpassing the $0.44 estimate, and reaffirmed its full-year adjusted EPS guidance of $1.75 to $1.77. PG&E (PCG) announced Q3 adjusted core EPS of $0.50, beating the estimated $0.43, and maintained its full-year adjusted EPS forecast between $1.49 and $1.51 [7]. - Atlas Copco reported Q3 adjusted EBIT of SEK 8,862 million, exceeding the estimate of SEK 8,677 million, with revenue of SEK 41,621 million slightly above the estimated SEK 41,333 million [8]. - Dow (DOW) reported Q3 adjusted EPS of -$0.19, better than the estimated -$0.29, but net sales of $9,973 million fell short of the estimated $10,185 million [9][10]. Tesla's Capital Expenditures and Geopolitical Landscape - Tesla (TSLA) recognized $238 million in expenses within its automotive segment during Q3, primarily due to charges for supercomputer assets, contract terminations, and employee terminations. The company expects full-year capital expenditures to be around $9.00 billion [11][10]. - On the geopolitical front, Ukrainian President Volodymyr Zelenskiy urged EU leaders to enhance Ukraine's long-range capabilities to counteract Russia, while Russia's Rosatom CEO warned that deteriorating Russia-U.S. relations could impact uranium supplies [12].

Core Insights - PG&E's third-quarter net income increased significantly due to rising electricity demand, which compensated for lower average residential rates [1] Financial Performance - The company reported a sharp rise in net income for the third quarter, indicating strong financial performance [1] - The increase in demand for electricity played a crucial role in offsetting the impact of reduced residential rates [1]

Accessibility StatementSkip Navigation 2025 and 2026 Guidance PG&E Corporation is narrowing its full year 2025 non-GAAP core earnings guidance to the range of $1.49 to $1.51 per share, from the prior range of $1.48 to $1.52 per share and is initiating full year 2026 non-GAAP core earnings guidance in the range of $1.62 to $1.66 per share. Factors expected to drive non-GAAP core earnings include return on customer capital investment and costs related to unrecoverable interest expense and other earnings fact ...

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 September 30, 2025 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 94-32349 ...

OAKLAND — PG&E Corporation (NYSE: PCG) is on track to deliver solid 2025 financial results. Financial progress includes: Operational progress during the third quarter of 2025 continued to focus on physical safety and delivery of affordable and resilient energy. Pacific Gas and Electric Company (the Utility): October 23, 2025 PG&E Corporation Reports Strong Third-Quarter Results; Narrows 2025 Guidance; Initiates 2026 Guidance PG&E Corporation is unable to provide GAAP guidance or present a quantitative recon ...

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