Pacific Gas And Electric Company Stock Earnings Reports

PG&E reported strong first-quarter 2026 results with core EPS of $0.43, and reaffirmed full-year 2026 core EPS guidance of $1.64–$1.66 and its 2027–2030 9%+ annual EPS growth target. Management reiterated the $73 billion five‑year capital plan through 2030 and the accompanying financing plan, highlighting flexibility to prioritize investments that enable rate‑reducing load growth (notably data centers) while preserving affordability. Key operational progress includes continued wildfire mitigation (PSPS, EPSS, continuous monitoring), a 20‑year NRC license extension for Diablo Canyon, undergrounding and hardening plans (targeting ~11,000 miles through 2037), and technology-driven O&M savings (continuous monitoring, LiDAR/satellite inspections). Management emphasized affordability gains — five electric rate reductions since Jan 2024 (bundled rates down ~23% for most vulnerable customers; down ~13% for other residential customers) — and a pathway to 0–3% customer bill growth. The company expects ~1.8 GW of large-load (data center) capacity online by 2030, contributing to rate reductions, and noted ~10+ GW of customer interest from the latest cluster study. On the policy front, PG&E is engaged with California’s wildfire liability reform efforts (CEA report / SB 254 Phase II), stressing the need for a predictable model to limit shareholder tail risk; management says the plan and capital allocation would be revisited if meaningful reform does not materialize. Credit improvement progress was highlighted (Moody’s outlook turned positive), and the financing plan assumes no new common equity issuance through 2030 while targeting investment‑grade metrics and a 20% dividend payout by 2028.