PG&E Corporation (PCG) Earnings Call Transcripts

PG&E Corporation's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, PG&E Corporation reported core earnings per share (EPS) of $0.40, maintaining its trajectory towards double-digit earnings growth for the fifth consecutive year. The company reaffirmed its full-year EPS guidance of $1.64 to $1.66, representing a 10% increase over 2025. Key highlights include a $73 billion capital plan through 2030, which does not require additional equity financing, and a commitment to customer affordability with a target of 0% to 3% annual bill growth.

Reported metrics

Guidance from management

PG&E reaffirmed its core EPS guidance for 2026 at $1.64 to $1.66, maintaining its growth trajectory. The company remains focused on achieving a 20% dividend payout ratio by 2028.

What management said

Shar, it's Carolyn. Yes, the settlement conference date has been part of the schedule that's just really standard in almost every case. As we've shared previously, we're always open to settlement, but at this point in time, like we're just very focused that we presented a very strong case. And the next steps in the hearing, as you just talked about -- the hearings are in August, briefer in September, and then we stil...

Yes. Nick, that's a great question. As we look at the GRC and our filing and any kind of shift to the capital plan, obviously, we'd have to integrate that. We don't know that it would require any kind of additional filing or filing modifications. But certainly, we would make sure that the capital that we're looking at still enables us to meet our first order obligations and our obligation to serve safety and reliabil...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of wildfire liability legislation on capital allocation. There is apprehension about how the lack of a durable legislative solution could affect PG&E's financial strategy and operational plans moving forward.

Main topics on the call

• Earnings Growth and Guidance — PG&E reaffirmed its full-year core EPS guidance of $1.64 to $1.66, which is a 10% increase from 2025. CEO Patti Poppe stated, "Halfway through 2026, we're well on our way to extending our run of double-digit earnings gro...
• Capital Plan and Financing — The company maintains a $73 billion capital plan through 2030, which does not require additional equity financing. CFO Carolyn Burke emphasized that the current dividend payout ratio allows for significant financing with...
• Wildfire Liability Legislation — Management highlighted the importance of a durable wildfire liability framework, stating, "A constructive outcome would accelerate our path to investment grade and lower financing costs for customers." The outcome of thi...
• Data Center Pipeline Growth — PG&E's data center pipeline has grown to over 12 gigawatts, with management indicating that this growth is crucial for future load demand. Poppe noted, "We expect about 1.8 gigawatts to be online by 2030 of this pipeline...

Read the full PG&E Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 32 PG&E Corporation earnings call transcripts on record, spanning July 30, 2020 to July 23, 2026. Based on this history, PG&E Corporation reports quarterly. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PCG

Exchange

NYSE

Country

US

Sector

Utilities

Industry

Electric Utilities

Calls on record

32

First call

July 30, 2020

Most recent

July 23, 2026

Reporting cadence

quarterly