PG&E Corporation’s (PCG) adjusted earnings per share (EPS) of 47 cents in the fourth quarter of 2023 surpassed the Zacks Consensus Estimate of 45 cents by 4.4%. The bottom line improved 80.8% from the year-ago quarter’s reported figure.The company reported GAAP earnings of 43 cents per share compared with 24 cents in the prior-year quarter.For 2023, the company reported adjusted EPS of $1.23, which surpassed the Zacks Consensus Estimate of $1.21 by 1.7%. The full-year bottom line improved 11.8% from the yea ...

PG&E (PCG) came out with quarterly earnings of $0.47 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.44%. A quarter ago, it was expected that this utility holding company would post earnings of $0.28 per share when it actually produced earnings of $0.24, delivering a surprise of -14.29%.Over the last four quarters, the comp ...

GAAP earnings were $1.05 per share for the year and $0.43 per share for the fourth quarter of 2023, compared to earnings of $0.84 and $0.24 per share, respectively, for the same periods in 2022. Non-GAAP core earnings were $1.23 per share for the year and $0.47 per share for the fourth quarter of 2023, compared to $1.10 and $0.26 per share, respectively, for the same periods in 2022. 2024 EPS GAAP guidance increased from $1.08 to $1.12 per share (previously) to $1.10 to $1.14 per share. 2024 EPS non-GAAP c ...

PG&E's Innovation Journey in 2024 features Refreshed Portfolio of Emerging Technology Projects to Address Grid Challenges Outlined in the Company's R&D StrategyOAKLAND, Calif., Feb. 21, 2024 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) today announced it is exploring more than 20 additional solutions resulting from its 2023 Accelerating Innovation effort which included its first-ever R&D Strategy Report, Innovation Summit and Pitch Fest. PG&E's Innovation Pitch Fest 2023 PG&E's R&D Str ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ | Commission File Number | Exact Name of Registrant as Specified ...

Earnings Performance - PG&E Corporation reported full-year 2023 GAAP earnings of $2,242 million, or $1.05 per share, compared to $1,800 million, or $0.84 per share, in 2022[3] - Non-GAAP core earnings for 2023 were $2,630 million, or $1.23 per share, up from $2,343 million, or $1.10 per share, in 2022[6] - 2024 GAAP earnings guidance increased to $1.10 to $1.14 per share, up from the previous range of $1.08 to $1.12 per share[5] - 2024 non-GAAP core earnings guidance increased to $1.33 to $1.37 per share, up from the previous range of $1.31 to $1.35 per share[5] - PG&E Corporation's GAAP earnings for Q4 2023 were $919 million, compared to $513 million in Q4 2022, with EPS of $0.43 vs. $0.24[21] - Non-GAAP core earnings for Q4 2023 were $1,006 million, up from $560 million in Q4 2022, with EPS of $0.47 vs. $0.26[21] - Full-year 2023 GAAP earnings were $2,242 million, compared to $1,800 million in 2022, with EPS of $1.05 vs. $0.84[21] - Full-year 2023 non-GAAP core earnings were $2,630 million, up from $2,343 million in 2022, with EPS of $1.23 vs. $1.10[21] - PG&E Corporation's 2024 EPS guidance on a GAAP basis is estimated between $1.10 and $1.14[29] - 2024 non-GAAP core EPS guidance is estimated between $1.33 and $1.37[29] Operating and Financial Metrics - Total operating revenues for 2023 were $24,428 million, up from $21,680 million in 2022[20] - Operating income for 2023 was $2,671 million, compared to $1,837 million in 2022[20] - Net income attributable to common shareholders for 2023 was $2,242 million, up from $1,800 million in 2022[20] - Non-fuel operating and maintenance costs reduced by 5.5% in 2023, exceeding the annual reduction target of 2% for the second consecutive year[5] - Five-year capital plan increased to $62 billion through 2028, a 20% increase to support critical customer infrastructure improvements[5] - Non-GAAP core EPS growth guidance of at least 9% extended to 2027 and 2028[5] Wildfire-Related Costs - Wildfire-related costs, net of insurance, were $76 million in Q4 2023 and $150 million for the full year 2023[26] - Estimated 2024 wildfire-related costs, net of insurance, are $30 million pre-tax and $22 million post-tax[38] - Estimated 2024 amortization of Wildfire Fund contribution is $460 million pre-tax and $331 million post-tax[30] Investigation and Regulatory Costs - Estimated 2024 investigation remedies costs are $130 million pre-tax and $95 million post-tax[35] Non-GAAP Core Earnings and EPS - Non-GAAP core earnings and Non-GAAP core EPS are used to compare underlying financial performance across periods, excluding non-core items[39][40] - Non-GAAP core earnings is calculated as income available for common shareholders less non-core items[39] - Non-GAAP core EPS is calculated as Non-GAAP core earnings divided by diluted common shares outstanding[39] - PG&E Corporation uses Non-GAAP core earnings and EPS for internal budgeting, forecasting, and employee incentive compensation[40] - Non-GAAP core earnings and EPS provide insight into underlying business trends and historical comparisons[40] - PG&E Corporation cannot predict reconciling items for GAAP net income for 2024-2026 due to uncertainties like wildfire-related costs and regulatory recoveries[40] - Non-GAAP core earnings and EPS are not substitutes for GAAP measures and may not be comparable to other companies' similarly titled metrics[41]

PG&E Corporation (PCG) is scheduled to report fourth-quarter and full-year 2023 results on Feb 22, before the opening bell.In the last reported quarter, the company reported a negative earnings surprise of 14.29%. The company has a trailing four-quarter average negative earnings surprise of 9.06%.Let’s take a closer look at the factors that are likely to be reflected in PG&E’s upcoming quarterly results.Factors to NoteDuring most of the fourth quarter, PCG’s service territories observed above-normal tempera ...

OAKLAND, Calif., Feb. 12, 2024 /PRNewswire/ -- With Valentine's Day fast approaching, Pacific Gas and Electric Company (PG&E) reminds customers that sparks – and not just the romantic kind – can fly on February 14 if improperly secured helium-filled metallic balloons come in contact with power lines. Metallic balloons conduct electricity and if they float into powerlines, they can disrupt electric service to an entire neighborhood, cause significant property damage and potentially result in serious injuries ...

Partners PG&E, PG&E Foundation, UC Berkeley and Mills College at Northeastern to Celebrate Graduates of Program Aimed at Closing Wealth Gap OAKLAND, Calif., Feb. 8, 2024 /PRNewswire/ -- Two dozen high school students will receive $8,000 scholarships as they graduate from the Economic Equity and Financial Education Program on Saturday (Feb. 10). The program is a two-semester advanced financial education course taught at the Haas School of Business, University of California, Berkeley, created and funded by Pa ...

Updated website provides faster, more complete outage information OAKLAND, Calif., Feb. 2, 2024 /PRNewswire/ -- With many customers still drying out from rains earlier this week, Pacific Gas and Electric Company (PG&E) is preparing for a stronger storm forecasted to arrive Sunday. The storm, which meteorologists are calling an atmospheric river event, is expected to bring heavy rain, strong winds and potential power outages to customers across Central and Northern California. The storm is expected to have t ...