Short answer
PG&E Corporation (PCG) filed its Q3 2025 10-Q quarterly report on Oct 23, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $6.3B (up 5.2% year over year) with net income of $823M.
Q3 2025 key financials · XBRL
- Revenue
- $6.3B
- +5.2% YoY · +6.0% QoQ
- Net income
- $823M
- +42.9% YoY · +58.0% QoQ
- Operating margin
- 19.3%
- EPS (diluted)
- $0.38
- +40.7% YoY · +65.2% QoQ
Source: XBRL data from the PG&E Corporation (PCG) Q3 2025 10-Q on SEC EDGAR. USD.
PG&E Corporation Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Operating cash flow $7.019B, up 12% YoY from $6.272B, driven by increased collections and lower costs
- Investing cash outflow $9.250B vs $8.219B prior year, financing cash inflow $1.874B vs $2.257B
- No segment/product lines financial performance details disclosed
- Utility expects cash flow impacts from wildfire costs, insurance recoveries, regulatory outcomes, and commodity price volatility
Risk Factors
- New tax ownership change risk triggered by potential Section 382 IRC limitations due to stock acquisition restrictions lowering ownership threshold to 3.92% as of October 15, 2025
- Material update in operating revenues: 5% increase ($309M) in Q3 2025 driven by $150M DCPP costs recovery and $140M 2023 WMCE interim rate relief
- Regulatory risk: 2022 and 2023 Wildfire Mitigation and Catastrophic Events Applications impacting interim rate relief by hundreds of millions, with $60M revenue disallowance in Q3 2025
- Operational risk: increased cost of electricity procurement by $180M in Q3 2025 due to market price changes, affecting passthrough revenues but not net income
- Financial risk: net loss at parent level increased to $87M in Q3 2025 primarily from interest expense on long-term debt totaling $691M, slightly down from $721M in Q3 2024
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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