p g & e corp (PCG) Key Developments
PG&E Corporation Presents at American Gas Association 2015 Financial Forum, May-17-2015
May 18 15
PG&E Corporation Presents at American Gas Association 2015 Financial Forum, May-17-2015 . Venue: JW Marriott Desert Springs, 74855 Country Club Drive, Palm Desert, CA 92260, United States.
PG&E Corporation Reports Unaudited Consolidated Earnings Results for the Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
Apr 29 15
PG&E Corporation reported unaudited consolidated earnings results for the quarter ended March 31, 2015. For the quarter, the company reported total operating revenues of $3,899 million against $3,891 million a year ago. Operating Income was $71 million against $484 million a year ago. Loss before income taxes was $59 million against income before income taxes of $321 million a year ago. Net income was $34 million against $230 million a year ago. Basic and diluted earnings per share were $0.06 against $0.49 a year ago. Earnings from operations were $418 million or $0.87 per diluted share against $251 million or $0.54 per diluted share, last year. On a non-GAAP basis, excluding items impacting comparability, PG&E Corporation’s earnings from operations for the first quarter of 2015 were $418 million, or $0.87 per share, up from $251 million, or $0.54 per share, during the same period in 2014. The large factor contributing to this quarter-over-quarter increase was the timing of expense recovery authorized in the utility’s 2014 General Rate Case.
The company is issuing 2015 guidance for non-GAAP earnings from operations of $3.50 to $3.70 per share. On a GAAP basis, the range for projected earnings is $1.93 to $2.25 per share, reflecting the impact of the penalties assessed by the CPUC as well as some other items. Guidance is based on various assumptions and forecasts, including those relating to expenses, authorized revenues, capital expenditures, rate base, and equity issuances. The company is still assuming capital expenditures of roughly $5.5 billion this year, consistent with its last call.
Fresno County, PG&E Face Legal Complaints over Gun Range Explosion
Apr 22 15
An attorney for a Fresno County Jail inmate injured in fiery gas line explosion filed a legal complaint on April 22, 2015 against Pacific Gas & Electric in Fresno County Superior Court and a claim for damages against Fresno County. The claim and complaint, both precursors to lawsuits, say that PG&E and Fresno County had some level of responsibility for the explosion at the Fresno County Sheriff’s Foundation shooting range that injured 13, including five who are in critical condition. He is seeking damages in excess of $650,000. Wagner said Ouk's injuries were less severe than other victims, but he was burned on his neck, face, head and right arm. The damages include medical expenses, pain and suffering, lost wages and emotional distress. The explosion and fire injured two deputies, members of an inmate work crew and a county employee who was driving a loader at the range in the area of the pipeline. Fresno County Sheriff Margaret Mims said the inmate crew was building up berms and doing other maintenance. Deputies saw the loader on a road behind the berms just before the explosion. Mims said the driver had not been digging but was smoothing out dirt.
PG&E Corporation Presents at Deutsche Bank Clean Tech, Utilities and Power Conference, May-11-2015
Apr 7 15
PG&E Corporation Presents at Deutsche Bank Clean Tech, Utilities and Power Conference, May-11-2015 . Venue: The New York Palace, 455 Madison Avenue (at 50th Street), New York, United States.
PG&E Corporation to Report Q1, 2015 Results on Apr 29, 2015
Apr 1 15
PG&E Corporation announced that they will report Q1, 2015 results at 10:30 AM, US Eastern Standard Time on Apr 29, 2015