PG&E Corporation reported an increase in third-quarter 2025 financial results, highlighting improvements in both operational safety and affordability for customers. The company stated it is on track to deliver solid financial outcomes for the year.
“PG&E continues our progress delivering safe and affordable energy to our customers. Our system has never been safer from wildfire risk, and we continue to stabilize our customers’ bills. Residential electric rates are down in 2025 and expected to go down further in 2026,” said PG&E Corporation CEO Patti Poppe.
For the full year 2025, PG&E narrowed its non-GAAP core earnings guidance to a range of $1.49 to $1.51 per share, compared with its previous range of $1.48 to $1.52 per share. The company also issued initial guidance for 2026, expecting non-GAAP core earnings between $1.62 and $1.66 per share.
Third-quarter income available for common shareholders reached $847 million, or $0.37 per diluted share under GAAP standards, up from $576 million, or $0.27 per diluted share, during the same period last year. The increase was mainly attributed to higher customer capital investment and operating cost savings but was partially offset by lower returns on equity and increased wildfire-related expenses.
Non-GAAP core earnings—which exclude items management does not consider representative of ongoing performance—were reported at $1,142 million ($0.50 per diluted share), compared with $791 million ($0.37 per diluted share) in the third quarter of 2024.
Supplemental financial information has been provided alongside this release and can be accessed through PG&E Corporation’s investor website at http://investor.pgecorp.com/financials/quarterly-earnings-reports/default.aspx.
An earnings conference call is scheduled for October 23, 2025 at 11:00 a.m Eastern Time (8:00 a.m Pacific Time). Details about accessing the webcast or replay are available at http://investor.pgecorp.com/news-events/events-and-presentations/default.aspx.
PG&E Corporation regularly posts regulatory filings with state and federal agencies as well as updates regarding safety and operations through its investor website at http://investor.pgecorp.com under “Regulatory Filings,” “Wildfire and Safety Updates,” and “News & Events: Events & Presentations.”
PG&E Corporation is headquartered in Oakland, California, serving around 16 million people across Northern and Central California over a service area of approximately 70,000 square miles.
The company noted that forward-looking statements included in its release depend on assumptions that involve risks detailed in filings such as its annual report on Form 10-K for the year ended December 31, 2024, which can be found at www.pgecorp.com or www.sec.gov.
