PG&E Corporation (NYSE:PCG) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET

Company Participants

Jonathan Arnold - VP, IR
Patricia Poppe - CEO
Carolyn Burke - EVP and CFO

Conference Call Participants

Shar Pourreza - Guggenheim Partners
Steve Fleishman - Wolfe Research
Jeremy Tonet - JPMorgan Securities
Julian Dumoulin Smith - Jefferies
Carly Davenport - Goldman Sachs
Gregg Orrill - UBS
Anthony Crowdell - Mizuho
Ryan Levine - Citi
Michael Lonegan - Evercore ISI

Operator

Good morning and welcome to the PG&E Corporation Second Quarter 2024 Earnings Release. At this time, all participants are in a listen-only mode. After the speaker's remarks, there will be a question and answer session. [Operator Instructions]

I will now turn the call over to Jonathan Arnold, Vice President of Investor Relations. Please go ahead.

Jonathan Arnold

Good morning, everyone, and thank you for joining us for PG&E's second quarter 2024 earnings call. With us today are Patty Poppe, Chief Executive Officer, and Carolyn Burke, Executive Vice President and Chief Financial Officer. We also have other members of the leadership team here with us in our Oakland headquarters.

First, I should remind you that today's discussion will include forward-looking statements about our outlook for future financial results. These statements are based on information currently available to management. Some of the important factors which could affect our actual financial results are described on the second page of today's earnings presentation.

The presentation also includes a reconciliation between non-GAAP and GAAP financial measures. The slides, along with other relevant information, can be found online at investor.pgecorp.com. We'd also encourage you to review our quarterly report on Form 10-Q for the quarter ended June 30, 2024.

And with that, it's my pleasure to hand the call over to our CEO, Patty Poppe.

Patricia Poppe

Thanks, Jonathan. Good morning, everyone. I'm pleased to report another quarter of solid progress. Our core earnings per share for the second quarter came in at $0.31, bringing us to $0.69 for the first half. We are reaffirming our 2024 guidance range of $1.33 to $1.37, up at least 10% from 2023. And we're also reaffirming our longer-term earnings per share growth of at least 9% each year starting in 2025 and continuing through 2028.

In addition, we remain firm in our commitment to no new equity in 2024, and there have been no changes to our five-year financing plan, which we shared with you during our first quarter call.