PG&E Corporation
PG&E Corporation Reports Strong Third-Quarter Results and Updated Financial Guidance
Summary
On November 7, 2024, PG&E Corporation reported strong financial results for the third quarter of 2024, with GAAP earnings per share of $0.27 and non-GAAP core earnings per share of $0.37. The company updated its 2024 GAAP earnings guidance to a range of $1.09 to $1.14 per share and narrowed its non-GAAP core earnings guidance to a range of $1.34 to $1.37 per share. PG&E Corporation also initiated its 2025 GAAP earnings guidance in the range of $1.30 to $1.36 per share and its non-GAAP core earnings guidance in the range of $1.47 to $1.51 per share. Additionally, the company announced an increase of $1 billion to its 5-year capital investment plan, bringing the total to $63 billion for 2024 through 2028.
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About PG&E Corporation
PG&E Corporation is a prominent energy infrastructure company engaged in delivering gas and electricity services to millions of customers, primarily in Northern and Central California. As a critical player in the utility sector, PG&E focuses on generating, transmitting, and distributing energy while upholding commitments to safety, reliability, and environmental stewardship. The company plays a vital role in supporting regional economies by facilitating energy needs for residential, commercial, and industrial users. PG&E Corporation is also at the forefront of integrating renewable energy sources, contributing to California's ambitious climate goals. By managing a vast network of power lines and gas pipelines, PG&E ensures consistent energy provision in a region prone to environmental challenges such as wildfires and earthquakes. As a major utility provider, PG&E's performance and strategic initiatives significantly impact regulatory environments, energy markets, and sustainability efforts in the burgeoning clean energy transition. Headquartered in San Francisco, California, PG&E Corporation's efforts in modernizing infrastructure and investing in technology aim to enhance grid resilience and customer service across its expansive service area.
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