PG&E's second quarter 2026 earnings of $0.40 per share beat estimates, while revenue missed expectations.

PG&E Corporation reported second quarter non-GAAP core earnings of $0.40 per share on total operating revenues of $5.9 billion. The results represented an earnings beat against analyst estimates of $0.37, while revenue fell short of the $6.31 billion consensus. The company reaffirmed its full-year 2026 non-GAAP core EPS guidance of $1.64 to $1.66.

Key Highlights

• The company's data center interconnection pipeline has expanded to over 12 gigawatts, an increase from the approximately 10 gigawatts investors were tracking.
• Non-GAAP core EPS grew to $0.40 from $0.31 in the prior-year period, driven by returns on capital investment and operating cost savings.
• PG&E remains on track to meet its target for a 2% to 4% reduction in non-fuel operating and maintenance costs for the full year.