PG&E Corporation announces strong 2025 results, adjusts 2026 earnings forecast.

In 2025, PG&E Corporation showcased robust financial achievements and continues to set a course for success in 2026 and beyond. For the fourth quarter of 2025, the company reported GAAP earnings of $0.29 per share and $1.18 per share for the full year. Comparatively, this was a slight decrease from the same periods in 2024, where earnings were $0.30 and $1.15 per share, respectively. Non-GAAP core earnings followed a similar trend, with $0.36 and $1.50 per share reported for the fourth quarter and the full year of 2025. These figures represented an improvement over earnings from the same periods in 2024, which were $0.31 and $1.36 per share.

Looking ahead to 2026, PG&E Corporation has revised its non-GAAP core EPS guidance to a range of $1.64 to $1.66 per share, compared to the previous guidance of $1.62 to $1.66 per share. The company aims to enhance its Simple Affordable Model, targeting a customer bill inflation rate of 0-3%, as opposed to the previous target of 2-4%. Moreover, in 2025, PG&E Corporation successfully reduced its non-fuel operating and maintenance costs by 2.5%, underscoring its commitment to operational efficiency.

The company’s efforts in delivering safe, reliable, affordable, and clean energy were evident through Pacific Gas and Electric Company’s accomplishments. Residential bundled electric rates saw their fourth reduction in two years, with overall rates 11% lower than in January 2024. Moreover, the company achieved a significant milestone by preventing major wildfires caused by its equipment for the third consecutive year. By undergrounding powerlines and installing strengthened poles in high wildfire-risk areas, PG&E significantly lowered wildfire risks, improving systemwide reliability and customer satisfaction.

PG&E Corporation CEO, Patti Poppe, acknowledged the progress made in 2025, emphasizing the importance of prioritizing safety, reliability, and affordability in all decision-making processes. Looking to the future, the company remains dedicated to these core values to foster continued growth and success.

As PG&E Corporation refines its 2026 guidance, the company anticipates that factors such as customer capital investment, interest expenses, and additional earnings factors will influence its non-GAAP core earnings. By leveraging non-GAAP core earnings as a measure to evaluate financial performance over time, PG&E Corporation aims to demonstrate its commitment to sustainable growth and operational excellence.

In summary, PG&E Corporation’s financial results for 2025 highlight its dedication to delivering value to customers and stakeholders alike. Through strategic initiatives focused on safety, reliability, and affordability, the company is positioned for continued success in the coming years.