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Visu uses AI to transform SEC filings and press releases into accurate summaries of earnings and key company events.
PGE Issues $2 Billion in New Mortgage Bonds
Pacific Gas and Electric Company has entered into an Underwriting Agreement to issue and sell a total of $2 billion in First Mortgage Bonds. This includes $400 million of 5.000% bonds due in 2028, $850 million of 5.050% bonds due in 2032, and $750 million of 6.100% bonds due in 2055. The 2028 Bonds are part of a previously issued series from June 2025, bringing the total outstanding amount for these bonds to $800 million after the new offering.
The sale of the Mortgage Bonds was completed on October 2, 2025. Investors may want to review additional details regarding these bonds, which can be found in the attached exhibits of the report.
linkOct 02, 2025 16:16:15
PG&E Announces Investor Update Conference Call for September 2025
PG&E Corporation will conduct a conference call on September 29, 2025, at 10:00 AM Eastern Time to provide an update for investors. This call will include details on extending the company's investment plan through 2030.
Investors can access the live audio webcast through the PG&E Corporation Investor Relations website. A presentation related to the investor update will also be available on the company's website under the 'News & Events: Events & Presentations' section.
linkSep 26, 2025 12:31:44
PGE Secures $500 Million Term Loan with Mortgage Bond
Pacific Gas and Electric Company has entered into a $500 million Term Loan Credit Agreement, borrowing the full amount on September 24, 2025. The loans mature on September 23, 2026, and interest rates are based on either Term SOFR or an alternative base rate, with specified margins. The loan is secured by first mortgage bonds tied to the Utility's real property and certain personal property, ranking equally with other first mortgage bonds.
The Credit Agreement includes standard provisions such as limitations on liens and sale transactions, and requires the Utility to maintain a debt-to-capitalization ratio of no more than 65%. In the event of a default, including significant cross-defaults, the outstanding amounts may become immediately payable. Additionally, a Thirtieth Supplemental Indenture was executed to issue a collateral bond for the obligations under this Credit Agreement.
linkSep 24, 2025 16:16:08
PG&E Reaffirms 2025 Earnings Guidance and Key Financial Metrics
PG&E Corporation has made a presentation available on its website, reaffirming its earnings guidance for 2025. The company emphasizes its focus on non-GAAP core earnings and non-GAAP core earnings per share (EPS), which exclude non-core items that may not reflect ongoing earnings. This approach aims to provide investors with a clearer view of the company's financial performance over time.
The non-GAAP core EPS is calculated by dividing non-GAAP core earnings by the diluted shares outstanding. PG&E Corporation uses these measures for internal budgeting, forecasting, and performance comparisons. However, the company clarifies that non-GAAP metrics should not be seen as substitutes for GAAP measures and may differ from similar metrics used by other companies.
linkSep 15, 2025 06:30:19
Executive Vice President Resigns from PG&E Corporation
Kaled H. Awada, the Executive Vice President and Chief People Officer of PG&E Corporation and Pacific Gas and Electric Company, has announced his resignation effective September 30, 2025. He is leaving to pursue another opportunity.
This change in leadership may impact the company's operations and strategic direction as the organization seeks to fill this key executive role. Investors should monitor how this transition affects company performance and future initiatives.
linkSep 12, 2025 16:16:50
PG&E Reports Stable Earnings and Updated Financial Guidance
PG&E Corporation reported its financial results for the second quarter of 2025, with GAAP earnings of $0.24 per share, consistent with the same period in 2024. Non-GAAP core earnings also remained stable at $0.31 per share. The company updated its full-year 2025 GAAP earnings guidance to a range of $1.26 to $1.32 per share, reflecting ongoing customer capital investments and costs related to wildfire claims. The Utility has submitted a minimal General Rate Case increase and is focused on maintaining stable residential gas and electric bills through 2027.
Operationally, PG&E connected over 3,300 new electric customers and 2,000 electric vehicle charging ports, while making significant progress on wildfire safety measures, including the construction of underground powerlines. The company has also achieved a 42% reduction in methane emissions from its gas pipeline system compared to 2015 levels. PG&E plans to continue enhancing its infrastructure and safety measures, which could positively influence its financial performance and regulatory standing.
linkJul 30, 2025 20:16:04
PG&E Issues $1.4 Billion Recovery Bonds Amid Legal Questions
Pacific Gas and Electric Company (PG&E) has successfully issued $1.4 billion in recovery bonds to fund wildfire-related costs, supported by California's Wildfire Financing Law. However, potential legal challenges may arise regarding the state’s ability to alter bondholder rights, raising concerns about the stability of these financial instruments.
linkAug 01, 2024 16:25:08
PG&E Corporation's Irrevocable Notice for Convertible Notes Settlement Method
PG&E Corporation has issued an irrevocable notice to fix the Settlement Method to Combination Settlement with a Specified Dollar Amount per $1,000 principal amount of Notes at or above $1,000. This election is irrevocable and will be published on the company's website or other public medium.
linkDec 08, 2023 16:43:07
PG&E Corporation Upsizes and Prices $1.9 Billion Convertible Notes
PG&E Corporation announced the pricing of $1.9 billion Convertible Senior Secured Notes due 2027, reflecting an upsize of $400 million over the previously announced offering size. The net proceeds will be used to prepay a portion of existing term loan, reducing interest expenses. The Convertible Notes will mature on December 1, 2027, bear interest at a rate of 4.25% per year, and may be convertible by holders at any time. The offering is made only to qualified institutional buyers.
linkNov 30, 2023 06:05:04
PG&E Announces $1.5 Billion Convertible Notes Offering
PG&E Corporation plans to offer $1.5 billion in Convertible Senior Secured Notes due 2027 to repay a portion of its existing term loan. The notes will be secured by the company's ownership interest in its principal subsidiary and will not initially be guaranteed by the subsidiary. The offering is intended for qualified institutional buyers, and the notes will not be redeemable prior to maturity.
linkNov 29, 2023 07:08:04