PCG · PG&E Corporation Q2 FY2026 earnings call record财报电话会记录

“Halfway through 2026, we're well on our way to extending our run of double-digit earnings growth for a fifth year, which supports my confidence in reaffirming our financial plan today, including our full year core EPS guidance of $1.64 to $1.66, which at the midpoint is up 10% over 2025.”

“Our +9% annual EPS growth from 2027 through 2030.”

“We're committed to achieving our path to flat, targeting 0%-3% annual customer bill growth.”

“A key enabler is electric load growth, and one of the most exciting opportunities in front of us is large load demand coming from our data center pipeline.”

“On affordability, our residential bundled electric rates are down 23% since January 2024 for our most vulnerable customers.”

“Since January 2025, our team has helped avoid nearly 20 million outage minutes, 28 ignitions in high fire risk areas, and over 5,000 emergency response hours while saving more than $11 million through lower cost repairs.”

“As a reminder, prior year results through the first half were impacted by dilution from our December 2024 equity financing, as well as the CPUC cost of capital phase II decision from October 2024.”

“The core drivers of this year's earnings growth are coming in as expected, with customer capital investment contributing $0.09 year-over-year and O&M savings and redeployment contributing a net $0.03.”

“In June, we completed a $2.2 billion utility bond issuance, bringing our total utility debt financings to $4.4 billion for the year and covering the annual financing needs that we previously shared with you.”

“We continue to focus on achieving investment-grade ratings, sustaining FFO to debt in the mid-teens, and targeting a dividend payout ratio of 20% by 2028 and holding on that level through 2030.”

“We think it needs to be affordable for customers, we think attracting low-cost capital from the equity and debt markets is an essential ingredient to affordability for customers.”

“When we say performance is power, we know that it takes time for people to believe and see the consistency of that performance I can appreciate that my legislature still gets pressure from customers that they want more from PG&E, they have higher expectations of us, and we believe that we can live up to those expectations best with our current plan.”