PG&E Corporation reported 2025 full year GAAP EPS of $1.18 and non-GAAP core EPS of $1.50, up from $1.15 and $1.36 in 2024, with Q4 GAAP EPS of $0.29 and non-GAAP core EPS of $0.36 versus $0.30 and $0.31. The company tightened 2026 non-GAAP core EPS guidance to $1.64-$1.66 from $1.62-$1.66 and targeted customer bill inflation of 0-3% versus 2-4% previously.
Key takeaways
GAAP earnings $0.29 and $1.18 per share for Q4 and full year 2025
Non-GAAP core earnings $0.36 and $1.50 per share for Q4 and full year 2025
Tightened 2026 non-GAAP core EPS guidance to $1.64 to $1.66 per share
Targeted customer bill inflation of 0-3% versus 2-4% previously
Reduced non-fuel O&M costs in 2025 by 2.5% with cumulative four-year redeployment over $700 million
Advanced 3.6 GW of data center projects into final engineering