PG&E Q2 2026 Earnings: Non-GAAP Core EPS Hits $0.40, Full-Year Guidance Reaffirmed
PCG sits 35% above its 52-week low of $13.315.
Summary
PG&E Corp posted Q2 2026 non-GAAP core EPS of $0.40, up from $0.31 a year ago, and reaffirmed its full-year 2026 guidance of $1.64–$1.66 per share. The company also highlighted advances in wildfire safety, a growing data center pipeline, and constructive legislative engagement on liability reform.
Key Events · Earnings and Guidance · PCG
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Q2 Earnings Beat
Non-GAAP core EPS reached $0.40, compared with $0.31 in Q2 2025, driven by higher rate base earnings and O&M savings.
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Full-Year Guidance Reaffirmed
2026 non-GAAP core EPS guidance was maintained at $1.64–$1.66, implying roughly 10% year-over-year growth.
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Long-Term Growth Outlook Intact
The company reaffirmed 9%+ annual non-GAAP core EPS growth from 2027–2030 and its $73B five-year capital plan, with no common equity issuance planned.
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Data Center Pipeline Expansion
The pipeline grew to over 12 GW, with four projects now under interconnection construction agreements, offering potential customer bill savings.
Analysis · PCG · Energy & Transportation
A 29% year-over-year jump in non-GAAP core EPS to $0.40 underscores the quarter's strength, fueled by customer capital investment and O&M savings. Reaffirming both the 2026 guidance and long-term growth targets signals management's confidence in the operational turnaround and wildfire mitigation progress. While the expanding data center pipeline and legislative momentum on wildfire liability reform serve as key catalysts, the stock's reaction will ultimately depend on earnings call commentary around regulatory outcomes and cost recovery.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PCG was trading at $17.95 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $39.9B. The 52-week trading range was $13.32 to $19.16. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.