NYSE$PCG
PG&E Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
PG&E Corporation's first-quarter results were reported, indicating the company is on track to deliver solid 2024 results.
PG&E Corporation reported a strong first quarter with GAAP earnings of $0.34 per share and non-GAAP core earnings of $0.37 per share. The company is on track to deliver solid 2024 results, driven by customer capital investment and operating & maintenance savings. 2024 EPS GAAP guidance updated in the range of $1.15 to $1.20 per share and non-GAAP core EPS guidance reaffirmed at $1.33 to $1.37 per share.
- GAAP earnings were $0.34 per share for the first quarter of 2024, compared to $0.27 for the same period in 2023.
- Non-GAAP core earnings were $0.37 per share for the first quarter of 2024, compared to $0.29 per share for the same period in 2023.
- 2024 EPS GAAP guidance updated in the range of $1.15 to $1.20 per share.
- 2024 non-GAAP core EPS guidance reaffirmed at $1.33 to $1.37 per share.
Headline financials
Revenue & EPS history
PG&E · Revenue · Quarterly
$5.86B
Revenue by segment
PG&E · $5.89B total across 2 segments · Q3 2023
- Electric Revenue$4.51B+15.7%76.5%
- Natural Gas Revenue$1.38B-7.9%23.5%
Forward guidance
PG&E Corporation is updating 2024 GAAP earnings guidance in the range of $1.15 to $1.20 per share (previously $1.10 to $1.14 per share). The guidance range for projected 2024 non-GAAP core earnings is reaffirmed at $1.33 to $1.37 per share.
Tailwinds
- Factors driving GAAP earnings include costs related to unrecoverable interest expense of $285 million to $365 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.
- 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.
Headwinds
- Costs related to unrecoverable interest expense of $285 million to $365 million after tax
- Amortization of the Wildfire Fund asset and accretion of the related Wildfire Fund liability
- PG&E Corporation’s and the Utility’s reorganization cases under Chapter 11
- Wildfire-related costs
- Investigation remedies
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.3%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-1.3%
Avg return
30 days after
45%
33 / 73 earnings
Positive
+8.1%
Q4 2019
Best reaction
-9.5%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -3.7% | -2.2% | |
| Q4 2025 | +2.7% | +5.4% | +6.1% | |
| Q3 2025 | -2.4% | -2.8% | -5.5% | |
| Q2 2025 | +0.0% | +8.2% | +9.0% | |
| Q1 2025 | -0.8% | -1.1% | -2.8% | |
| Q4 2024 | -1.1% | -3.8% | +4.7% | |
| Q3 2024 | +1.7% | +4.6% | +0.4% | |
| Q2 2024 | -1.2% | +0.4% | +3.0% | |
| Q1 2024 | +0.2% | +0.6% | +8.6% | |
| Q4 2023 | +1.5% | -1.1% | -2.2% | |
| Q3 2023 | -2.2% | +0.8% | +11.4% | |
| Q2 2023 | -1.3% | -3.1% | -6.7% | |
| Q1 2023 | -0.1% | -0.1% | -3.7% | |
| Q4 2022 | +1.7% | +0.6% | +0.8% | |
| Q3 2022 | +0.5% | +0.9% | +1.3% | |
| Q2 2022 | +0.7% | +2.2% | +15.8% | |
| Q1 2022 | +1.3% | +1.8% | -1.1% | |
| Q4 2021 | -8.5% | -7.3% | -12.4% | |
| Q3 2021 | -2.2% | +0.4% | +1.3% | |
| Q2 2021 | -3.9% | -1.7% | -0.3% | |
| Q1 2021 | +4.9% | +4.9% | -6.0% | |
| Q4 2020 | -7.9% | -4.6% | +5.8% | |
| Q3 2020 | -1.4% | -0.3% | +31.2% | |
| Q2 2020 | +1.6% | -1.7% | -0.8% | |
| Q1 2020 | +3.4% | +8.0% | +11.5% | |
| Q4 2019 | +8.1% | +10.6% | -51.2% | |
| Q3 2019 | -6.4% | +2.0% | +39.5% | |
| Q2 2019 | -9.5% | -13.9% | -44.9% | |
| Q1 2019 | -1.0% | -3.2% | -21.2% | |
| Q4 2018 | +0.6% | +2.9% | +0.0% | |
| Q3 2018 | +2.4% | -15.9% | -43.6% | |
| Q2 2018 | +1.1% | +0.2% | -0.4% | |
| Q1 2018 | -2.2% | -6.8% | -7.8% | |
| Q4 2017 | +2.9% | +2.2% | +9.9% | |
| Q3 2017 | -0.8% | -1.6% | -5.4% | |
| Q2 2017 | -0.7% | +0.5% | +3.2% | |
| Q1 2017 | +0.5% | +1.0% | +3.7% | |
| Q4 2016 | +1.6% | +2.7% | +5.8% | |
| Q3 2016 | +1.5% | -1.3% | -3.2% | |
| Q2 2016 | -0.0% | +0.6% | -2.9% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | +0.1% | — | — | |
| Q3 2015 | -3.2% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | -1.0% | — | — | |
| Q3 2014 | +4.2% | — | — | |
| Q2 2014 | -1.8% | — | — | |
| Q1 2014 | -2.3% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | -2.6% | — | — | |
| Q3 2012 | +1.2% | — | — | |
| Q2 2012 | -3.0% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q2 2011 | +2.1% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -3.5% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q2 2010 | -1.3% | — | — | |
| Q4 2007 | -1.3% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q1 2009 | +2.2% | — | — | |
| Q1 2010 | +2.2% | — | — | |
| Q4 2009 | -1.2% | — | — | |
| Q3 2008 | -1.6% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q4 2008 | -0.3% | — | — | |
| Q2 2008 | -0.3% | — | — | |
| Q2 2009 | -0.3% | — | — |
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