Overview

• Energy provider's Q4 non-GAAP core EPS rose to $0.36, up from $0.31 in 2024

• Company tightened 2026 non-GAAP core EPS guidance to $1.64-$1.66 versus $1.62-$1.66 previously

• Company reduced 2025 non-fuel O&M costs by 2.5%

Outlook

• PG&E tightens 2026 non-GAAP core EPS guidance to $1.64-$1.66 per share

• Company targets customer bill inflation of 0-3% versus 2-4% previously

• PG&E advances 3.6 GW of data center projects into final engineering

Result Drivers

• RATE REDUCTIONS - PG&E achieved a fourth reduction in residential electric rates in two years, with rates now 11% lower than January 2024

• WILDFIRE PREVENTION - PG&E completed 334 miles of undergrounded powerlines and installed 207 miles of strengthened poles in high wildfire-risk areas

• COST MANAGEMENT - PG&E reduced 2025 non-fuel operating and maintenance costs by 2.5% and redeployed savings, totaling over $700 mln in four years

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the electric utilities peer group is "buy"

• Wall Street's median 12-month price target for PG&E Corp is $21.00, about 22.8% above its February 11 closing price of $17.10

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)