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Investing.com -- PG&E (NYSE:PCG) reported first-quarter results that fell slightly short of analyst expectations, while reiterating its full-year outlook.
The natural gas and electricity company posted adjusted core earnings per share of 33 cents, down from 37 cents a year earlier and just below the consensus estimate of 34 cents.
Operating revenue rose 2.1% year-on-year to $5.98 billion, missing the expected $6.02 billion. Operating expenses increased 3.9% from the prior year to $4.76 billion.
"My coworkers at PG&E continue our operational progress with a focus on safety as our foundation," said PG&E CEO Patti Poppe. "We’ve also stabilized customer bills over the past year. For the long term, we’re building infrastructure for purpose that enables electric load growth and delivers affordable and resilient energy for all."
PG&E reaffirmed its 2025 non-GAAP core earnings guidance of $1.48 to $1.52 per share.
The company also updated its outlook for non-core items, now expecting an after-tax impact of $400 million to $430 million, which it does not view as reflective of its ongoing performance.