PG&E Reports Strong 2025 Earnings and Tightens 2026 Guidance
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An announcement from PG&E ( (PCG) ) is now available.
PG&E reported improved 2025 results on February 12, 2026, with GAAP earnings rising to $1.18 per share and non-GAAP core earnings climbing to $1.50 per share, driven by higher customer capital investment and operating and maintenance savings despite a lower allowed return on equity and wildfire-related costs. The company tightened its 2026 non-GAAP core EPS guidance range to $1.64–$1.66, cut non-fuel O&M by 2.5% in 2025, and continued redeploying cumulative four-year O&M savings of more than $700 million, while advancing 2 GW of data-center projects to final engineering and connecting thousands of new customers and EV charging ports.
Operationally, PG&E highlighted a fourth reduction in residential bundled electric rates in two years, leaving rates 11% below January 2024 levels, alongside a third consecutive year without major wildfires caused by its equipment and continued expansion of undergrounding and hardening power lines in high-risk areas. The utility reported over 99% natural gas reliability and a 19% improvement in electric system reliability versus 2024, underscoring management’s push to pair cost controls and capital investment with enhanced safety, grid resilience, and affordability for California customers and investors.
The most recent analyst rating on (PCG) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on PG&E stock, see the PCG Stock Forecast page.
Spark’s Take on PCG Stock
According to Spark, TipRanks’ AI Analyst, PCG is a Neutral.
PG&E’s overall score reflects strong financial performance and strategic initiatives, tempered by cash flow challenges and mixed technical indicators. The company’s fair valuation and positive earnings call sentiment are offset by potential risks from regulatory decisions and financial obligations.
To see Spark’s full report on PCG stock, click here.
More about PG&E
PG&E Corporation (NYSE: PCG) is a holding company headquartered in Oakland, California, and the parent of Pacific Gas and Electric Company, a regulated energy utility serving about 16 million customers across a 70,000-square-mile territory in Northern and Central California. The utility provides electric and natural gas service, with a growing focus on grid reliability, wildfire mitigation, and supporting load growth from data centers and electric vehicles.
Average Trading Volume: 22,652,411
Technical Sentiment Signal: Buy
Current Market Cap: $36.81B
For a thorough assessment of PCG stock, go to TipRanks’ Stock Analysis page.
