The company said the Utility's electric and natural gas operating revenues increased by $309 million (5%) in the 3 months ended September 30, 2025 and by $343 million (2%) in the 9 months ended the same date, compared to the same periods in the prior year. The company cited approximately $150 million in revenues to recover costs associated with extended operations at DCPP in the 3 months as a factor in the increase.

1. 01

   The company said the Utility's electric and natural gas operating revenues increased by $309 million (5%) in the 3 months ended September 30, 2025 and by $343 million (2%) in the 9 months ended the same date, compared to the same periods in the prior year. The company cited approximately $150 million in revenues to recover costs associated with extended operations at DCPP in the 3 months as a factor in the increase.

2. 02

   As of September 30, 2025, PG&E said it had recorded aggregate liabilities of $1.325 billion for the 2019 Kincade fire, $2.125 billion for the 2021 Dixie fire, and $250 million for the 2022 Mosquito fire. These amounts are before available insurance and, in the case of the Dixie and Mosquito fires, other probable cost recoveries.

3. 03

   PG&E said net cash provided by operating activities increased by $0.7 billion (12%) for the 9 months ended September 30, 2025 compared to the same period in the prior year. The company attributed the increase in collections to recovery of costs associated with extended operations at DCPP and 2023 WMCE interim rate relief.

4. 04

   As of September 30, 2025, PG&E said total liquidity was approximately $6.1 billion, comprised of $253 million in the Utility's cash and cash equivalents, $151 million in PG&E Corporation's cash and cash equivalents, and $5.7 billion of availability under revolving credit facilities. The Utility also estimated 2025 capital expenditures at $13.2 billion.

Key figures

Quarter ended September 30, 2025

Revenue

$6.3B

Operating income

$1.2B

Net income

$850M

EPS

$0.37

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.