PG&E (US:PCG) Prnewswire·2026-02-12 11:00Core Insights - PG&E Corporation reported solid financial results for 2025, with a focus on operational improvements and cost reductions, while tightening its earnings guidance for 2026 [1][2] Financial Performance - PG&E Corporation's non-GAAP core earnings for 2025 were $3,307 million, or $1.50 per diluted share, compared to $2,923 million, or $1.36 per diluted share in 2024, reflecting a significant increase [1] - GAAP earnings available for common shareholders were $2,593 million, or $1.18 per diluted share for 2025, up from $2,475 million, or $1.15 per diluted share in 2024 [2] - The company reduced non-fuel operating and maintenance (O&M) costs by 2.5% in 2025, contributing to overall financial performance [1] Operational Highlights - PG&E advanced 2 gigawatts of data center projects into final engineering, bringing the total to approximately 3.6 GW [1] - The utility connected over 12,730 new electric customers and more than 18,750 electric vehicle charging ports to its grid, which is expected to help reduce electricity prices for all customers [1] - The company achieved over 99% reliability for natural gas customers and improved systemwide reliability for electric customers by 19% compared to 2024 [1] Cost Management - PG&E has redeployed O&M savings, accumulating over $700 million over four years, which has positively impacted its financial results [1] - The company has implemented a Simple Affordable Model, targeting customer bill inflation of 0-3%, down from a previous target of 2-4% [1] Wildfire Mitigation Efforts - PG&E completed 334 miles of underground powerlines and installed 207 miles of strengthened poles and covered powerlines in high wildfire-risk areas, significantly reducing wildfire risk [1] - The utility reported zero major wildfires caused by its equipment for the third consecutive year [1] 2026 Guidance - PG&E Corporation tightened its full-year 2026 non-GAAP core earnings guidance to a range of $1.64 to $1.66 per share, from a prior range of $1.62 to $1.66 per share [1]