PG&E is threatening to redirect capital from grid investments toward share buybacks. The utility aims to pressure California lawmakers into changing wildfire liability regulations. Management argues shrinking equity is preferable to expanding the rate base under current liability frameworks.
The company currently carries a debt load exceeding $64 billion. It is also reporting negative free cash flow.
PG&E reported a Q2 2026 EPS of $0.40. This result represented an 11.2% beat on consensus estimates. Insiders sold $3.42 million in stock over the last 90 days. No open-market insider purchases occurred during this period.