The earnings call reflects a cautiously optimistic outlook with strong performance metrics and strategic growth initiatives, particularly in data centers and customer affordability. However, there are significant concerns about legislative and regulatory uncertainties, particularly related to wildfire risk management and potential financial impacts.

Company Guidance -

Q3 2025

During PG&E Corporation's Second Quarter 2025 earnings call, CEO Patti Poppe reaffirmed the company's full-year guidance range of $1.48 to $1.52 in core EPS, representing a 10% increase over 2024. The company projects an annual EPS growth of at least 9% from 2026 to 2028. PG&E plans to maintain a $63 billion capital investment through 2028, without issuing further equity, and aims for a 20% dividend payout by 2028. The company's strategy includes reducing non-fuel O&M costs, with annual savings exceeding $200 million in recent years. PG&E also highlighted the potential benefits of a 10-gigawatt data center pipeline, which could lower electric bills by 1% to 2% per gigawatt added. Additionally, Poppe addressed legislative developments, expressing confidence in achieving a constructive resolution to the AB 1054 wildfire construct and affordability legislation, despite differing from some legislative proposals. The company remains focused on maintaining investment-grade credit metrics and has no plans for further equity issuance, even in the context of potential legislative outcomes.

Strong Core Earnings and Guidance Reaffirmation

Core earnings per share are $0.31 for the second quarter and $0.54 for the first half of 2025. The company reaffirms its full-year guidance range of $1.48 to $1.52, with a bias toward the midpoint, up 10% over 2024.

Data Center Growth

The data center pipeline has grown to 10 gigawatts, representing over 50 projects. This growth is expected to provide significant benefits for customers, including a potential reduction in electric bills by 1% to 2% per gigawatt added.

Affordability Initiatives

The company forecasts residential combined bills to be flat for the remainder of 2025 and declining in 2026. The 2027 general rate case proposal could result in customer bills being flat compared to current bills.

Strong Financial Plan

A $63 billion capital investment plan through 2028 has been reaffirmed, with no further equity issuance planned. The company targets a 20% dividend payout by 2028.

PG&E (PCG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

PCG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.41 / -	0.37	―	―	―
Jul 31, 2025	2025 (Q2)	0.32 / 0.31	0.31	0.00% (0.00)
Apr 24, 2025	2025 (Q1)	0.34 / 0.33	0.37	-10.81% (-0.04)
Feb 13, 2025	2024 (Q4)	0.31 / 0.31	0.47	-34.04% (-0.16)
Nov 07, 2024	2024 (Q3)	0.33 / 0.37	0.24	54.17% (+0.13)
Jul 25, 2024	2024 (Q2)	0.30 / 0.31	0.23	34.78% (+0.08)
Apr 25, 2024	2024 (Q1)	0.35 / 0.37	0.29	27.59% (+0.08)
Feb 22, 2024	2023 (Q4)	0.46 / 0.47	0.26	80.77% (+0.21)
Oct 26, 2023	2023 (Q3)	0.25 / 0.24	0.29	-17.24% (-0.05)
Jul 27, 2023	2023 (Q2)	0.25 / 0.23	0.25	-8.00% (-0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PCG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$14.02	$14.02	0.00%
Apr 24, 2025	$17.51	$17.36	-0.86%
Feb 13, 2025	$15.98	$15.80	-1.13%
Nov 07, 2024	$20.16	$20.27	+0.55%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does PG&E (PCG) report earnings?

PG&E (PCG) is schdueled to report earning on Oct 29, 2025, Before Open (Confirmed).

What is PG&E (PCG) earnings time?

PG&E (PCG) earnings time is at Oct 29, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is PCG EPS forecast?

PCG EPS forecast for the fiscal quarter 2025 (Q3) is 0.42.

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