PG&E Corp. (PCG) Tops Q3 EPS by 4c, provides guidance
PG&E Corp. (NYSE: PCG) reported Q3 EPS of $0.37, $0.04 better than the analyst estimate of $0.33. Revenue for the quarter came in at $5.94 billion versus the consensus estimate of $6.61 billion.
GUIDANCE:
PG&E Corp. sees FY2024 EPS of $1.34-$1.37, versus the consensus of $1.36.
2025 Guidance
PG&E Corporation is initiating 2025 GAAP earnings guidance in the range of $1.30 to $1.36 per share. Factors driving GAAP earnings include costs related to unrecoverable interest expense of $350 million to $400 million after tax and other earnings factors, including allowance for funds used during construction equity, incentive revenues, tax benefits, and cost savings, net of below-the-line costs. Additional factors include the amortization of the Wildfire Fund asset and accretion of the related Wildfire Fund liability, costs related to PG&E Corporation's and the Utility's reorganization cases under Chapter 11, wildfire-related costs, and investigation remedies, partially offset by prior period net regulatory impact.
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