PG&E Reports In-Line Q4 Earnings, Increases 2025 EPS View

Core Insights - PG&E Corporation (PCG) reported fourth-quarter 2024 adjusted earnings per share (EPS) of 31 cents, a 34% decline from 47 cents in the same quarter last year, but in line with the Zacks Consensus Estimate [1] - The company reported full-year adjusted earnings of $1.36 per share for 2024, an increase from $1.23 in the previous year, also meeting the Zacks Consensus Estimate [2] - PG&E's total revenues for 2024 were $24.42 billion, slightly lower than $24.43 billion in 2023 and missing the Zacks Consensus Estimate of $24.96 billion [3] Financial Performance - Total operating expenses for 2024 were $19.96 billion, an 8.3% decrease from the prior year, with operating income rising to $4.46 billion from $2.67 billion [4] - Interest expenses increased to $3.05 billion from $2.85 billion in the previous year [4] Financial Condition - As of December 31, 2024, cash and cash equivalents were $0.94 billion, up from $0.64 billion a year earlier [5] - Net cash flow from operating activities was $8.04 billion in 2024, compared to $4.75 billion at the end of 2023 [5] - Capital expenditures rose to $10.37 billion from $9.71 billion in 2023, while long-term debt increased to $53.57 billion from $50.98 billion [5] Future Guidance - PG&E updated its adjusted EPS guidance for 2025 to a range of $1.48-$1.52 per share, higher than the previous guidance of $1.47-$1.51, with the Zacks Consensus Estimate at $1.49 per share [6] Market Position - PG&E currently holds a Zacks Rank of 3 (Hold) [7]