$PCG (PG&E Corporation)

$PCG {{ '2015-07-29T14:23:16+0000' | timeago}} • Announcement

$PCG 2Q15 PR: Total operating revenues increased $265MM to $4,217MM compared to $3,952MM in 2Q14. Net income available to common shareholders was $402MM, improved $137MM compared to $267MM in 2Q14. Operating income was $687MM, improved $169MM compared to $518MM in 2Q14.

$PCG {{ '2017-06-15T13:37:03+0000' | timeago}} • Announcement

$PCG SVP Edward Halpin will retire from his role on December 31, 2017. The date provides the company with the appropriate time to ensure an effective transition period.

$PCG {{ '2017-06-01T11:53:33+0000' | timeago}} • Announcement

$PCG raised its quarterly common stock dividend by $0.04 per share to $0.53 per share, beginning with the dividend for 2Q17. Additionally, $PCG shareholders elected Geisha Williams to its BoD, and elected former U.S. Secretary of Homeland Security Jeh Johnson to its BoD and the BoD of its subsidiary, Pacific Gas and Electric Company.

$PCG {{ '2017-05-31T21:00:02+0000' | timeago}} • Announcement

$PCG elected its President Geisha Williams to its BoD. It also elected former US Secretary of Homeland Security Jeh Johnson to the PG&E Corporation BoD as well as that of its subsidiary, Pacific Gas and Electric Company.

$PCG {{ '2017-05-31T20:56:42+0000' | timeago}} • Announcement

$PCG raised its quarterly common stock dividend by 4 cents per share to 53 cents per share, beginning with the dividend for 2Q17. The dividend is payable on July 15, 2017, to shareholders as on June 30, 2017. The company also declared a preferred stock dividend, payable on August 15, 2017 to shareholders as on July 31, 2017.

$PCG {{ '2017-05-02T13:57:02+0000' | timeago}} • Announcement

For FY17, $PCG adjusted its guidance and expects GAAP earnings to be in the range of $3.57-3.82 per share. Non-GAAP EPS from operations remains unchanged at $3.55-3.75.

$PCG {{ '2017-05-02T13:49:48+0000' | timeago}} • Announcement

Electric utility company $PCG reported higher 1Q17 net income of $576MM, or $1.13 per share, compared to $107MM, or $0.22 per share during 1Q16. Prior quarters results were impacted with expense of $381MM pre-tax related to the Butte fire.

$PCG {{ '2017-04-20T18:00:07+0000' | timeago}} • Announcement

$PCG's subsidiary Pacific Gas and Electric Company has promoted Jamie L. Martin to VP, Business Finance, and Melvin J. Christopher to VP, Gas Transmission and Distribution Operations, effective May 1, 2017. Ms. Martin will report to SVP and CFO Jason Wells and Mr. Christopher will report to SVP, Gas Operations, Jesus Soto.

$PCG {{ '2017-03-15T11:26:33+0000' | timeago}} • Announcement

The average duration of power outages in 2016 for a $PCG customer went up to 109 minutes from 96 minutes a year ago. Pacific Gas and Electric attributed the decline in year-over-year reliability mostly to the El Nino early in the year.

$PCG {{ '2017-02-16T18:06:58+0000' | timeago}} • Announcement

Pacific Gas and Electric Co., a subsidiary of $PCG, said VP Travis Kiyota will lead, effective March 1, the newly formed California External Affairs organization, which will consolidate the existing functions of state government relations, state agency relations, local public affairs and community relations.

$PCG {{ '2017-02-16T18:05:35+0000' | timeago}} • Announcement

Pacific Gas and Electric Company, a subsidiary of $PCG, announced the restructuring of its state external affairs functions in order to more effectively engage with stakeholders to meet the needs of customers and the state.

$PCG {{ '2017-02-16T17:44:34+0000' | timeago}} • Webcast

$PCG said the $300MM cost efficiency measure is part of the company’s plan to meet its guidance in 2017. The company will be focused on managing costs and improving processes. $PCG has a strong capital plan that could put upward pressure on customer rates and so it is taking measures to drive efficiencies going forward.

$PCG {{ '2017-02-16T17:32:44+0000' | timeago}} • Webcast

$PCG booked revenue of $325MM pretax for 4Q16 and full-year 2016 which reflects recognition of gas transmission revenues in excess of 2016 cost of service. The company had originally estimated $350MM based on high level revenue assumptions. The actual out-of-period revenues were slightly lower.

$PCG {{ '2017-02-16T17:24:44+0000' | timeago}} • Webcast

$PCG's net deferred tax assets are about $300MM. A reduction in the federal tax rate to 20% would reduce the value of these assets by about 40%. While this amount would not be recoverable from customers, it would not increase equity needs as these balances are not factored into the utility’s equity ratio.

$PCG {{ '2017-02-16T14:40:44+0000' | timeago}} • Announcement

$PCG BoD declared 1Q17 regular cash dividend $0.49 per share on the its common stock. The dividend is payable on April 15, 2017, to shareholders of record on March 31, 2017.

$PCG {{ '2017-02-16T14:14:03+0000' | timeago}} • Announcement

For FY17, $PCG expects its GAAP earnings to be in the range of $3.48-3.77 per share. On non-GAAP basis, the company expects its earnings from operations to be in the range of $3.55-3.75 per share.

$PCG {{ '2017-02-16T14:10:28+0000' | timeago}} • Announcement

Electric utility company $PCG reported increased 4Q16 earnings of $692MM, or $1.36 per share, compared to $134MM, or $0.27 per share during 4Q15.

$PCG {{ '2017-01-27T11:41:08+0000' | timeago}} • Announcement

Pacific Gas and Electric Co., a subsidiary of $PCG, issued statement in reaction to a sentence handed down by the U.S. District Court in San Francisco in connection with its 2016 trial.

$PCG {{ '2017-01-12T12:47:19+0000' | timeago}} • Announcement

$PCG reported that Geisha Williams, currently President, Electric, of Pacific Gas & Electric Company, will succeed Tony Earley as CEO of the company on March 1. Earley will continue to serve as Executive Chair of the Board. Nick Stavropoulos, currently President, Gas, of Pacific Gas & Electric Company, will become its President & COO on March 1.

$PCG {{ '2017-01-12T12:45:57+0000' | timeago}} • Announcement

With regards to the efficiency measures, $PCG reported that the majority of the cost reductions will come from reductions in spending on materials and contracts, renegotiating terms with vendors, and reducing expenses for professional services and discretionary expenses.

$PCG {{ '2017-01-12T12:41:40+0000' | timeago}} • Announcement

$PCG and its subsidiary Pacific Gas & Electric Company announced management changes and some efficiency measures. The company plans to reduce the number of officers by 15% or 8 positions. $PCG plans to eliminate approx. 450 support services jobs and identified new roles for approx. 60 employees. Approx. 390 employees will be affected by this move.

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