週四，太平洋天然氣電力公司（NYSE:PCG）公佈了第四季度財報。調整後每股收益（EPS）爲$0.31，與市場預期一致。該公司2024年的調整後每股收益爲$1.36，高於2023年的$1.23，這得益於2023年一般費率案例最終決議中批准的更高客戶資本投資，通過資本成本程序獲得了權益回報。運營現金流從2023年的$4.7億上升至2024年的$8.0億。2024年，不含燃料的運營和維護（O&M）成本減少了4%，超出了2%的目標。同時，該公司在過去三年中每年節省了超過$2億的不含燃料的O&M成本。2024年，公司與美國能源部貸款項目辦公室簽訂了一項$150億的貸款擔保協議，用於資助電網現代化項目，這可能通過低成本融資爲客戶節省高達$10億的淨現值。

以上內容來自Benzinga Earnings專欄，原文如下：

Pacific Gas & Electric Co. (NYSE:PCG) shares are trading lower on Friday. On Thursday, the company reported fourth-quarter results, with an adjusted EPS of $0.31, which was in line with the consensus.

PG&E reported 2024 adjusted EPS of $1.36, up from $1.23 in 2023, aided by higher customer capital investment, as approved in the 2023 General Rate Case final decision, which earns an equity return under the cost of capital proceeding.

Operating cash flow stood at $8.0 billion in 2024, up from $4.7 billion in 2023.

In 2024, non-fuel operating and maintenance (O&M) costs decreased by 4%, surpassing the 2% target. The company has saved over $200 million in non-fuel O&M costs annually for the past three years.

In 2024, the company secured a $15 billion loan guarantee agreement with the U.S. Department of Energy’s Loan Programs Office to fund grid modernization projects, potentially saving customers up to $1 billion on a net present value basis through lower-cost financing.

Outlook: PG&E raised its 2025 adjusted EPS guidance to $1.48 – $1.52 from its previous estimate of $1.47 – $1.51, vs. the consensus estimate of $1.49.

The company targets a dividend payout ratio of around 20% of core earnings by 2028.

PG&E CEO Patti Poppe said, “In 2024, we continued progress in ways that matter to both customers and investors. We delivered energy safely—our system has never been safer, and we are working to make it even safer. We stabilized combined gas and electric bills for residential customers. And we connected more new customers to our grid than we have in decades.” 

In a separate release, the company stated that it is planning to support approximately 5.5 gigawatts (GW) of new data center energy demand over the next decade. 

Of this, 1.4 GW is in the final design phase and is expected to become operational between 2026 and 2030.

Investors can gain exposure to the stock via Listed Funds Trust TrueShares Eagle Global Renewable Energy Income ETF (NYSE:RNWZ) and VanEck Uranium And Nuclear ETF (NYSE:NLR).

Price Action: PCG shares are down 1.86% at $15.56 at the last check Friday.

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