Financial Data and Key Metrics Changes - Core earnings per share for Q2 2025 were $0.31, with a year-to-date total of $0.64, down from the previous year, but consistent with internal plans [5][23] - The full-year guidance range for EPS is reaffirmed at $1.48 to $1.52, representing a 10% increase over 2024 [5][10] Business Line Data and Key Metrics Changes - The company is focused on a simple affordable model that aims to stabilize customer bills while allowing for necessary capital investments [11][15] - The 2027 general rate case proposal reflects the lowest percentage increase in ten years, with a path for residential bills to decrease compared to current levels [24][25] Market Data and Key Metrics Changes - The data center pipeline has grown to 10 gigawatts, a nearly threefold increase from the previous year, indicating strong demand and beneficial load growth [17][21] - The company is actively working on over 50 projects, including a significant project for Microsoft in San Jose [18][20] Company Strategy and Development Direction - The company is advocating for legislative changes to improve wildfire fund durability and affordability for customers, emphasizing a comprehensive approach to wildfire risk management [6][8] - The focus remains on maintaining a balance between customer affordability and investor returns, with a commitment to sustainable growth through capital investments [11][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving growth under various legislative outcomes, emphasizing the importance of a durable wildfire fund and effective affordability solutions [39][40] - The company is optimistic about the potential for rate reductions and legislative support for affordability measures in the near term [76][77] Other Important Information - The company has implemented over 100 initiatives aimed at operational savings, with a target to exceed a 2% reduction in non-fuel O&M costs [23][25] - The capital investment plan through 2028 is set at $63 billion, with no additional equity issuance planned [27][31] Q&A Session Summary Question: Concerns about legislative outcomes affecting growth - Management reassured that they have modeled various legislative scenarios and remain confident in their guidance through 2028, emphasizing that securitization proposals would not be beneficial for customers [39][40] Question: Thoughts on upfront funding for wildfire solutions - Management indicated that there is no expectation for a large upfront payment for the wildfire fund, as claims typically take years to pay out [46][47] Question: Update on data center pipeline and load growth benefits - Management highlighted that construction for data center projects in San Jose is expected to start in late 2026 or early 2027, with load benefits materializing predominantly in 2027 [71][72] Question: Potential for combining legislative proposals - Management expressed optimism about the possibility of combining affordability and wildfire fund proposals into a cohesive package this legislative session [82][85] Question: Confidence in achieving targeted earnings growth - Management stated that their confidence is underpinned by various options for capital redeployment and a strong demand for capital investments to serve new load growth [117][119]

2025 SECOND QUARTER EARNINGS Delivering For Customers AND Investors July 31, 2025 1 Forward-Looking Statements This presentation and the oral remarks made in connection with it contain statements regarding PG&E Corporation's and Pacific Gas and Electric Company's (the "Utility") future performance, including expectations, objectives, and forecasts about operating results (including 2025 non-GAAP core earnings), debt and equity issuances, refinancing activity, rate base growth, capital expenditures, cash flo ...

Core Insights - PG&E reported quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.33 per share, representing an earnings surprise of -6.06% [1] - The company posted revenues of $5.9 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 6.65% [2] - PG&E shares have declined approximately 30.5% year-to-date, contrasting with the S&P 500's gain of 8.2% [3] Earnings Performance - Over the last four quarters, PG&E has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $6.6 billion, and for the current fiscal year, it is $1.50 on revenues of $26.3 billion [7] Market Outlook - The company's earnings outlook will be influenced by management's commentary during the earnings call [3][4] - The Zacks Rank for PG&E is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Utility - Electric Power industry is currently in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - PG&E Corporation is on track to deliver solid financial results for 2025, focusing on safety and affordable energy delivery [1] - The company has updated its full year 2025 GAAP earnings guidance to a range of $1.26 to $1.32 per share, down from the previous range of $1.29 to $1.35 per share [2] - Non-GAAP core earnings guidance for 2025 is reaffirmed at $1.48 to $1.52 per share [3] Financial Performance - PG&E Corporation reported second-quarter 2025 income available for common shareholders of $521 million, or $0.24 per share, consistent with the same period in 2024 [5][6] - Non-GAAP core earnings for the second quarter of 2025 were also $0.31 per share, unchanged from the second quarter of 2024 [9] - The company achieved a 42% reduction in methane emissions in 2024 compared to a 2015 baseline, exceeding its 20% commitment [5] Operational Highlights - The data center pipeline has increased to 10 gigawatts, and the company is on track to meet or exceed a 2% non-fuel O&M reduction target [5] - PG&E has connected over 3,300 electric customers and over 2,000 new electric vehicle charging ports to its grid [5] - The company has made significant progress in wildfire safety, constructing 32 miles of underground powerlines and 103 miles of strengthened poles in high-risk areas [5] Regulatory and Compliance - PG&E submitted its smallest General Rate Case percentage increase in a decade to California regulators, expecting total residential combined gas and electric bills in 2027 to be flat compared to 2025 [5] - The U.S. Nuclear Regulatory Commission has found the Diablo Canyon Power Plant safe for continued operation for 20 more years [5]

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ 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 in its Charter State or Other Jurisdiction of Incorporation IRS Employer Identification Number 1-12609 PG&E Corporation California 94-3234914 1- ...

Investor Relations: invrel@pge-corp.com | Media: 415.973.5930 | www.pgecorp.com July 31, 2025 PG&E Corporation Reports Second-Quarter Results; On Track to Deliver Solid 2025 OAKLAND — PG&E Corporation (NYSE: PCG) is on track to deliver solid 2025 financial results. Financial progress includes: Operational progress during the second quarter of 2025 continued to focus on physical safety and delivery of affordable and resilient energy. Pacific Gas and Electric Company (the Utility): "PG&E's story of progress c ...

Core Viewpoint - PG&E Corporation (PCG) is set to report its second-quarter 2025 results on July 31, with expectations of revenue and earnings growth despite a previous earnings surprise of -5.71% in the last quarter [1][9]. Factors Influencing Q2 Results - Warmer-than-normal temperatures in PCG's service territories likely increased electricity demand for cooling, positively impacting revenues [2]. - Strong rate-based growth and favorable outcomes from previously approved general rate case filings are expected to contribute to revenue performance [2]. - Efforts to reduce non-fuel operations and maintenance (O&M) expenses may enhance earnings for the quarter [3]. Q2 Expectations - The Zacks Consensus Estimate for sales is $6.37 billion, reflecting a year-over-year growth of 6.4% [4]. - The consensus estimate for earnings is 33 cents per share, indicating a year-over-year increase of 6.5% [4]. Earnings Prediction Insights - The current Earnings ESP for PCG is 0.00%, making it challenging to predict an earnings surprise despite anticipated sales growth [5][9]. - PCG holds a Zacks Rank of 3, suggesting a neutral outlook [6]. Industry Comparisons - American Electric Power (AEP) is expected to report on July 30, with an Earnings ESP of +10.63% and a Zacks Rank of 3 [7]. - IDACORP Inc. (IDA) is also reporting on July 31, with an Earnings ESP of +4.55% and a Zacks Rank of 3 [10]. - Xcel Energy Inc. (XEL) is scheduled for July 31, with an Earnings ESP of +1.76% and a Zacks Rank of 3 [11].

Core Insights - The XPRIZE Wildfire competition, co-sponsored by PG&E and the Gordon and Betty Moore Foundation, is a four-year initiative with a total prize pool of $11 million aimed at developing innovative solutions to combat destructive wildfires [1][4][10] Competition Overview - The competition has announced its finalists and semi-finalists, showcasing teams that are advancing in their efforts to end wildfires [2][3] - The competition is structured into two tracks: Space-Based Wildfire Detection & Intelligence and Autonomous Wildfire Response, each focusing on different technological innovations [5][7] Technological Innovations - In the Space-Based Wildfire Detection track, teams must detect fires across large landscapes within one minute and report data accurately within ten minutes, with 11 teams from 5 countries advancing as finalists [7] - The Autonomous Wildfire Response track requires teams to autonomously detect and suppress fires in a challenging 1,000 km² area, with 15 teams from 7 countries advancing as semi-finalists [7] Funding and Awards - A total of $300,000 was awarded to six finalist teams for their data analytic capabilities during the semifinals, while semi-finalists are eligible for a portion of a $750,000 milestone award based on performance [7][11] - The winning team in each track will receive $3.5 million at the end of the competition in 2026, with an additional $1 million bonus for exceptional performance in wildfire detection [11] Industry Context - The urgency of addressing wildfires is underscored by recent global commitments from leaders, including the G7, and a new U.S. Executive Order aimed at overhauling federal wildfire governance [4] - The increasing frequency and destructiveness of wildfires highlight the need for innovative solutions, as stated by industry leaders involved in the competition [5][11]

Core Insights - PG&E encourages customers to check their rate plans to potentially lower their energy bills without changing their energy usage [1][3] - The company forecasts stable residential gas and electric bills for the remainder of 2025, with a decrease expected in 2026 [2] - A significant number of customers in Fresno County could save a total of $13.4 million annually by switching to the lowest-cost rate [6][7] Rate Plans and Savings - Customers can use PG&E's Rate Comparison tool to find the lowest-cost rate based on their last 12 months of energy usage [3][4] - Over 70% of Fresno County customers could save by moving off the E-1 tiered rate, which charges higher prices for increased energy usage [7] - Customers may achieve additional savings by switching to time-of-use rates and using energy during off-peak hours [4][8] Customer Support and Tools - PG&E offers various tools to help customers manage their energy costs, including Budget Billing, Home Energy Checkup, and Savings Finder [9][10] - Financial assistance programs are available for customers struggling to pay their energy bills [10]

OAKLAND, Calif., July 2, 2025  /PRNewswire/ --PG&E Corporation (NYSE: PCG) will hold a conference call on Thursday, July 31, 2025, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss its second quarter 2025 results. The public can access the conference call through a simultaneous webcast.  The link is provided below and will also be available from the PG&E Corporation website. What: Second Quarter 2025 Earnings Call When: Thursday, July 31, 2025 at 11:00 a.m. Eastern Time Where: ...