PG&E (PCG) Unveils $73 Billion Capital Spending Plan After a Steady Q3

PG&E Corporation (NYSE:PCG) is one of the best high-growth utility stocks to buy. On October 23, PCG reported financial results for Q3 2025, with earnings per share of $0.50 topping Wall Street estimates of $0.43 and revenue of $6.25 falling short of forecasts of $6.41 billion.

Consequently, PCG has lowered its EPS guidance for 2025 to $1.49-$1.51 per share, which still reflects 10% year-over-year growth. The 2026 guidance for EPS stood at $1.62-$1.66, indicating 9% growth.

PG&E (PCG) Posts Solid Q3 EPS, Reveals $73 Billion Capital Spending Plan

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A core part of PG&E’s Q3 presentation was its significant $73 billion 5-year capital agenda for 2026-2030, with plans to raise the company’s weighted-average rate base from $69 billion to $106 billion over 2025 to 2030. This demonstrates an estimated average yearly growth of 9%. There is a chance for an additional $5 billion in investment avenues that are advantageous for customers.

This capital agenda is divided across electric distribution, transmission, and customer benefits. The company mentioned that 93% of its 2026 capex has already been approved, offering clarity on short-term investments. The capital plan does not include $2.9 billion in SB 254 securitized capital.

PG&E Corporation (NYSE:PCG) provides electricity and natural gas across northern and central California, with a portfolio that includes nuclear, hydroelectric, fossil-fuel, fuel-cell, and solar generation.

While we acknowledge the risk and potential of PCG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PCG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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