PG&E Corporation has reported strong financial results for the third quarter of 2025, with CEO Patti Poppe highlighting continued progress in delivering safe and affordable energy. “PG&E continues our progress delivering safe and affordable energy to our customers. Our system has never been safer from wildfire risk, and we continue to stabilize our customers’ bills. Residential electric rates are down in 2025 and expected to go down further in 2026,” said Poppe.
The company has narrowed its full-year 2025 non-GAAP core earnings guidance to a range of $1.49 to $1.51 per share, slightly adjusting its previous outlook. For 2026, PG&E is initiating non-GAAP core earnings guidance between $1.62 and $1.66 per share. These projections are based on assumptions regarding revenues, expenses, capital expenditures, rate base, equity issuances, and other factors that remain subject to change.
For the third quarter of 2025, PG&E reported income available for common shareholders of $847 million ($0.37 per diluted share) under generally accepted accounting principles (GAAP), up from $576 million ($0.27 per diluted share) in the same period last year. The increase was attributed mainly to higher customer capital investment and operational savings but was partly offset by a lower return on equity compared to 2024 and dilution from an equity offering conducted last year.
Non-GAAP core earnings for the quarter were $1,142 million ($0.50 per diluted share), up from $791 million ($0.37 per diluted share) a year ago.
The company also noted that it regularly provides regulatory filings and investor updates on its website at http://investor.pgecorp.com/financials/quarterly-earnings-reports/default.aspx.
PG&E will hold an earnings conference call on October 23 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). Details for accessing the call and subsequent replay can be found at http://investor.pgecorp.com/news-events/events-and-presentations/default.aspx.
PG&E Corporation is headquartered in Oakland, California, serving approximately 16 million people across Northern and Central California through its subsidiary Pacific Gas and Electric Company.
Forward-looking statements in this report reflect current expectations but may be affected by various risks detailed in the company’s most recent SEC filings at www.pgecorp.com or www.sec.gov.
