Warren Buffett 'got it wrong' on California fire risk, PG&E CEO says [Seeking Alpha]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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US:NYSE Investor Relations:
finance.yahoo.com/quote/pg
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Source: Seeking Alpha
"California has done the hard work to mitigate both physical and financial risk," the CEO said on the company's earnings conference call. "The citizens of California have never been safer from wildfire risk, and I think investors will soon come to believe that." Berkshire Hathaway's PacifiCorp utility faces hundreds of millions of dollars of liability costs from Oregon wildfires in 2020, and Warren Buffett's most recent letter to Berkshire shareholders expressed a reluctance to invest in utilities in the western U.S. given their exposure to wildfire liability claims. PG&E ( PCG ) shares trade roughly flat after the utility reported better than expected Q1 adjusted earnings but below-consensus revenues, which fell 5.6% Y/Y to $5.86B. PG&E ( PCG ) also raised its FY 2024 GAAP earnings per share guidance range to $1.15-$1.20 from its previous outlook of $1.10-$1.14, while reaffirming full-year adjusted EPS of $1.33-$1.37, in line with $1.35 consensus. Recommended For You More
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- PG&E In Talks with KKR to Sell Minority Stake in Power Business [BNN Bloomberg (Canada)]BNN Bloomberg
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 5/1/24 - Form 4
- 4/30/24 - Form 144
- 4/25/24 - Form 8-K
- PCG's page on the SEC website