The company reported GAAP earnings of $0.34 per share (income available for common shareholders of $732 million) for Q1 2024 and non-GAAP core earnings of $0.37 per share ($800 million). For 2023, the same period showed $0.27 and $0.29 per share, respectively.

1. 01

   The company reported GAAP earnings of $0.34 per share (income available for common shareholders of $732 million) for Q1 2024 and non-GAAP core earnings of $0.37 per share ($800 million). For 2023, the same period showed $0.27 and $0.29 per share, respectively.

2. 02

   PG&E said the increase in GAAP earnings was driven by 2023 growth in customer capital investment approved in the General Rate Case, non-fuel O&M savings net of amounts reinvested in the business, and lower Wildfire Fund amortization expense as the estimated coverage period of the Wildfire Fund rose from 15 years to 20 years.

3. 03

   The company said it updated its 2024 GAAP EPS guidance to $1.15 to $1.20 (previously $1.10 to $1.14). It reaffirmed its non-GAAP core EPS guidance of $1.33 to $1.37, and the guidance range for non-core items is $360 million to $380 million after tax.

4. 04

   The company presented a 5-year financing plan that includes funding $62 billion of safety and reliability capital expenditures. It reaffirmed its commitment to no new equity in 2024, and it assumed up to $3 billion in potential equity needs over the period from 2025 through 2028.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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