Pacific Gas & Electric Co. ( (PCG) ) has released its Q4 earnings. Here is a breakdown of the information Pacific Gas & Electric Co. presented to its investors.
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PG&E Corporation, a major energy company serving Northern and Central California, is known for its extensive utility services across a vast service area.
PG&E Corporation’s latest earnings report for 2024 reveals solid financial performance with an increase in both GAAP and non-GAAP core earnings compared to the previous year. The company has also updated its earnings guidance for 2025, maintaining a positive outlook.
Key financial highlights include a full-year GAAP earnings of $1.15 per share, up from $1.05 in 2023, and non-GAAP core earnings of $1.36 per share, an increase from $1.23 in 2023. The company has fully satisfied its equity needs for a five-year capital plan totaling $63 billion through 2028. Operational achievements include significant progress in wildfire prevention and cost reductions in non-fuel operating and maintenance costs.
In addition to financial metrics, PG&E has made strategic advancements such as signing a $15 billion loan agreement with the U.S. Department of Energy for grid modernization projects and connecting more new customers to its electric system at reduced costs.
Looking forward, PG&E Corporation reaffirms its 2025 GAAP earnings guidance and slightly increases its non-GAAP core earnings guidance. The company’s efforts in enhancing safety, reducing costs, and expanding service connections underscore its commitment to delivering reliable and affordable energy solutions.
