Pacific Gas And Electric Company Pfd 1st 5% Stock Earnings Reports

PG&E reported core EPS of $0.40 for Q2 and $0.83 for the first half of 2026, and reaffirmed full-year core EPS guidance of $1.64–$1.66 (midpoint ~10% above 2025). Management emphasized continued disciplined execution of its “simple affordable model,” targeting customer bill growth of 0%–3% annually and a $73 billion capital plan through 2030 that does not require additional equity financing. The company highlighted operational improvements — enhanced safety performance (zero public-safety incidents from asset failures and four years with no major utility-linked fires destroying structures), improved reliability (23% YTD improvement vs. prior year), and benefits from continuous monitoring (avoiding outage minutes, preventing potential ignitions, and lowering repair costs). PG&E updated its data center pipeline to >12 GW (with ~1.8 GW assumed online by 2030 under current planning assumptions) and stressed pricing these large loads to be rate-reducing. Credit progress was noted: S&P upgraded PG&E to one notch below investment grade, and management reiterated that achieving investment grade is critical to lower financing costs for customers. The company also made clear that legislative resolution on wildfire liability (SB 254 Phase 2) is a key assumption underpinning the plan; if a durable, financeable framework is not enacted, PG&E would reevaluate and reallocate its capital priorities (while maintaining safety, reliability and compliance obligations). Management reiterated ongoing O&M reduction targets (2%–4% annually), financing progress (completed $2.2B utility bond in June; $4.4B year-to-date utility debt), and a target dividend payout ratio of 20% by 2028.