PG&E backs FY25 core EPS view $1.48-$1.52, consensus $1.50

The company said, “PG&E Corporation is updating its full year 2025 GAAP earnings guidance to the range of $1.26 to $1.32 per share, from the range of $1.29 to $1.35 per share provided last quarter. Factors expected to drive GAAP earnings include customer capital investment and costs related to unrecoverable interest expense of $350 million to $400 million after tax and other earnings factors, including allowance for funds used during construction, incentive revenues, tax benefits, and cost savings, net of below-the-line costs. Additional factors include the amortization of the Wildfire Fund asset and accretion of the related Wildfire Fund liability, SB 901 impacts, costs related to PG&E Corporation’s and the Utility’s reorganization cases under Chapter 11, wildfire-related costs, and investigation remedies, partially offset by prior period net regulatory impact. PG&E Corporation is reaffirming guidance for its full year 2025 non-GAAP core earnings of $1.48 to $1.52 per share. The guidance range for non-core items, which management does not consider representative of ongoing earnings, is updated to $470 million to $510 million after tax.”