PG&E (US:PCG) Prnewswire·2025-10-23 10:00Core Insights - PG&E Corporation is on track to deliver solid financial results for 2025, with a focus on safety and affordable energy delivery [1][2] - The company has narrowed its 2025 non-GAAP core earnings guidance to a range of $1.49 to $1.51 per share and initiated guidance for 2026 in the range of $1.62 to $1.66 per share [3][11] - PG&E's third-quarter 2025 income available for common shareholders was $847 million, or $0.37 per diluted share, compared to $576 million, or $0.27 per diluted share, in the same period of 2024 [6][11] Financial Performance - Third-quarter 2025 non-GAAP core earnings were $1,142 million, or $0.50 per diluted share, up from $791 million, or $0.37 per diluted share, in the third quarter of 2024 [8][11] - The increase in GAAP results was driven by higher customer capital investment and net O&M savings, partially offset by a lower return on equity and increased wildfire-related claims [7][11] - Total operating revenues for the third quarter of 2025 were $6,250 million, compared to $5,941 million in the same quarter of 2024 [16] Operational Highlights - PG&E has completed significant infrastructure improvements, including 97 miles of underground powerlines and 58 miles of strengthened poles in high wildfire-risk areas [11] - The company has achieved a milestone of burying 1,000 miles of powerlines, the largest undergrounding effort by a utility to mitigate wildfire risk [11] - PG&E has successfully launched the world's first ultra-long duration hybrid battery and hydrogen energy storage microgrid in Calistoga, California [11] Customer Impact - Residential electric rates have decreased in 2025 and are expected to decline further in 2026, with a typical residential electric bill reduced by about 2.1% [2][11] - PG&E connected over 3,100 electric customers and more than 3,800 new electric vehicle charging ports to its grid, which is anticipated to help lower electricity prices for all customers [11]