PG&E Corporation (PCG)
NYSEUtilitiesUtilities - Regulated ElectricSnapshot 2026-07-07
$17.16+2.02%
Close 2026-07-07 · 1-day change
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Track PCG free→PG&E grows earnings with EPS guided at $1.64 to $1.66 for 2026. It cut non-fuel operating costs by 2.5% in 2025 and aims for more savings. The company expanded renewable gas facilities and has over 1 million solar customers. These support steady revenue and profit growth.
Rising customer outrage over high bills risks revenue loss. New wildfire lawsuits and regulatory challenges could increase costs. Competition from solar and new laws may reduce PG&E's customer base and margins.
The stock trades about 28% below our fair value near $24. Analysts expect roughly 4% revenue growth. The price reflects moderate growth and legal risks, aligning with our cautious view.
Breaks if: EPS falls below $1.64 or above $1.66 in FY26
PG&E continues to reaffirm its full year 2026 non-GAAP core EPS guidance range of $1.64 to $1.66 per share.
Stated in 3 of last 3 quarters. EPS guidance reaffirmed at $1.64 to $1.66 per share. Non-GAAP core earnings were $982 million, or $0.43 per share, for Q1 2026, up from $728 million, or $0.33 per share, in Q1 2025. The trajectory is delivering on guidance.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Full year 2026 non-GAAP core EPS guidance reaffirmed at $1.64 to $1.66 per share.”
“Tightening 2026 non-GAAP core EPS guidance to $1.64 to $1.66 per share.”
“Initiating 2026 non-GAAP core EPS guidance in the range of $1.62 to $1.66.”
Breaks if: Cost reduction falls below 2% in FY26
PG&E aims to reduce non-fuel operating and maintenance costs by 2-4% as part of its cost management strategy.
Stated in 2 of last 2 quarters. PG&E reduced non-fuel O&M costs by 2.5% in 2025 and is on track to meet the 2-4% reduction target for 2026. This indicates progress in cost management, aligning with their stated goals.
“On track to meet 2-4% non-fuel operating and maintenance (O&M) cost reduction target.”
“Reduced non-fuel operating and maintenance (O&M) costs in 2025 by 2.5%.”
Breaks if: Fails to connect at least 3 new facilities by end 2027
PG&E plans to connect an additional five renewable natural gas facilities by the end of 2027.