PG&E Q4 Earnings in Line With Estimates, Revenues Increase Y/Y

Core Insights - PG&E Corporation (PCG) reported fourth-quarter 2025 adjusted earnings per share (EPS) of 36 cents, matching the Zacks Consensus Estimate and reflecting a 16.1% increase from the previous year's 31 cents [1][8] - The company reported full-year adjusted earnings of $1.50 per share for 2025, up from $1.36 in the prior year, also in line with the Zacks Consensus Estimate [2] - PG&E's total revenues for 2025 were $24.94 billion, an increase from $24.42 billion in 2024, although it fell short of the Zacks Consensus Estimate of $25.33 billion [3][8] Operational Highlights - Total operating expenses for 2025 were $20.19 billion, a 1.1% increase from the previous year [4] - Operating income rose to $4.75 billion compared to $4.46 billion a year ago [4] - Interest expenses were reported at $3.03 billion, slightly down from $3.05 billion in the previous year [4] Financial Condition - As of December 31, 2025, cash and cash equivalents stood at $0.71 billion, down from $0.94 billion a year earlier [5] - Net cash flow from operating activities was $8.72 billion in 2025, an increase from $8.04 billion at the end of 2024 [5] - Capital expenditures totaled $11.79 billion, up from $10.37 billion in 2024 [5] - Long-term debt as of December 31, 2025, was $57.39 billion, compared to $53.57 billion a year earlier [5] 2026 Guidance - PG&E expects adjusted earnings for 2026 to be in the range of $1.64-$1.66 per share, which is narrower than the previous guidance of $1.62-$1.66 [6] - The Zacks Consensus Estimate for 2026 earnings is $1.63 per share, which is below the company's guided range [6]