PG&E Corp (PCG) Form 10-Q — Oct 21, 2026
PG&E Corporation reported Q3 2026 EPS of $0.34, down from $0.37 a year ago, with consolidated income available for common shareholders of $749 million versus $823 million (-9%). Nine-month EPS rose to $1.06 from $0.89, driven by 5% revenue growth and the 2023 WMCE rate decision, while the Utility's nine-month net income rose 17% to $2.6 billion. The 10-Q details the previously announced strategic review, a $2.0 billion cut to planned 2027 capex (from $13.4 billion to $11.4 billion), and withdrawal of 2028-2030 capex forecasts, with securing an investment-grade credit rating cited as a foundational objective. PG&E says it expects no equity issuances through 2030.
Key figures
- Eps
- Q3 2026 diluted $0.34 vs $0.37 prior year; nine months $1.06 vs $0.89
- Revenue
- Q3 2026: $6,188M; nine months 2026: $18,971M
- Net Income
- Q3 2026: $776M vs $850M prior year; nine months: $2,422M vs $2,033M
- Total Debt
- Long-term debt $61,347M plus $1,474M current portion at 9/30/2026
- Revenue Yoy
- Q3: -1%; nine months: +5%
- Cash Position
- $902M consolidated cash and cash equivalents at 9/30/2026
- Shares Outstanding
- 2680173293
- Capex 2026 plan
- $12.4 billion
- Total liquidity
- $5.8 billion
- Undergrounding plan
- 5,000 miles / $16.6 billion over 2028-2037
- Equity issuance plan
- no equity issuances expected through 2030
- Operating cash flow 9m
- $5,840M vs $6,756M prior year
- Capex 2027 plan reduced
- $11.4 billion (from $13.4 billion)
- Consolidated income available for common q3
- $749M vs $823M (-9%)
- Wildfire fund potential accelerated amortization
- up to $3.7 billion
AI analysis
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