PG&E sees FY25 core EPS $1.47-$1.51, consensus $1.48

The company said, “PG&E Corporation is initiating 2025 GAAP earnings guidance in the range of $1.30 to $1.36 per share. Factors driving GAAP earnings include costs related to unrecoverable interest expense of $350 million to $400 million after tax and other earnings factors, including allowance for funds used during construction equity, incentive revenues, tax benefits, and cost savings, net of below-the-line costs. Additional factors include the amortization of the Wildfire Fund asset and accretion of the related Wildfire Fund liability, costs related to PG&E Corporation’s and the Utility’s reorganization cases under Chapter 11, wildfire-related costs, and investigation remedies, partially offset by prior period net regulatory impact. The guidance range for projected 2025 non-GAAP core earnings is initiated at $1.47 to $1.51 per share. The guidance range for non-core items, which management does not consider representative of ongoing earnings, is $340 million to $380 million after tax.”