Overview
- PG&E reported 2025 core earnings of $1.50 per share, landing at the midpoint of guidance and up 10% year over year.
- The company lifted the low end of its 2026 core EPS outlook to $1.64–$1.66, topping the $1.63 Wall Street estimate cited by LSEG.
- Since its third-quarter update, PG&E moved about 2 GW more into final engineering, bringing large-load projects to roughly 3.5–3.6 GW.
- Management reaffirmed plans to invest about $73 billion in transmission through 2030 to support data-center-driven growth.
- Residential bundled electric rates are about 11% lower than January 2024 with a targeted 0–3% bill trajectory, no new common equity planned through 2030, a doubled 2026 dividend to $0.20, and improved 2025 safety metrics alongside a new wildfire-detection effort with Lockheed Martin.