Earnings Call
Jul 23, 2026
Q2 FY2026
EPS Estimate
0.36
EPS Actual
0.40
Post-Earnings Close
$17.54
Earnings Reaction
-3.1%
PG&E reported Q2 2026 core EPS of $0.40, a penny above the consensus estimate of roughly $0.36, bringing first-half core EPS to $0.83, $0.19 ahead of the same period last year. Management reaffirmed full-year 2026 core EPS guidance of $1.64, $1.66, representing approximately 10% growth at the midpoint over 2025, and reiterated the $73 billion five-year capital plan through 2030 with no additional equity financing required. The quarter itself was operationally clean, with customer capital investment contributing $0.09 year-over-year and O&M savings contributing a net $0.03, though management flagged that some timing-related items benefiting the first half are expected to reverse in the back half.
Report generated on Jul 23, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
Read the full PCG analysis
The complete report, with key themes, analyst Q&A summary, notable quotes, and market context — is free with an account. No password, no card.