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PG & E PG & E Corporation . Investor Relations Contact : 415.972.7080 | Media Inquiries Contact : 415.973.5930 | www.pgecorp.com • • • PG & E Corporation Reports First - Quarter 2021 Financial Results April 29 , 2021 Recorded GAAP earnings were $ 0.06 per share for the first quarter of 2021 , compared to earnings of $ 0.57 per share for the same period in 2020 . Non - GAAP core earnings were $ 0.23 per share for the first quarter of 2021 , compared to $ 0.89 per share for the same period in 2020 . 2021 EPS guidance adjusted for GAAP earnings in the range of $ 0.07 to $ 0.21 and reaffirmed non - GAAP core earnings of $ 0.95 to $ 1.05 per share . _ SAN FRANCISCO – PG & E Corporation ( NYSE : PCG ) recorded first - quarter 2021 income available for common shareholders of $ 120 million , or $ 0.06 per share , as reported in accordance with generally accepted accounting principles ( GAAP ) . This compares with income available for common shareholders of $ 371 million , or $ 0.57 per share , for the first quarter of 2020 . GAAP results include non - core items that management does not consider representative of ongoing earnings , which totaled $ 367 million after - tax , or $ 0.17 per share , for the quarter . These results were primarily driven by costs related to 2019-2020 wildfire - related costs , prior period net regulatory recoveries , the amortization of wildfire insurance fund contributions under Assembly Bill ( AB ) 1054 , PG & E Corporation's and Pacific Gas and Electric Company's ( Utility ) reorganization cases under Chapter 11 of the U.S. Bankruptcy Code ( Chapter 11 ) , and investigation remedies . " This is an exciting time for PG & E , ” said Patti Poppe , CEO of PG & E Corporation . " With our full leadership team now in place , we are pursuing the important work that we have all committed to ― delivering clean , reliable energy for the benefit of our customers and hometowns , and doing so safely . We will meet that objective through our triple - bottom - line focus on people , the planet , and California's prosperity , underpinned by performance . " Non - GAAP Core Earnings PG & E Corporation's non - GAAP core earnings , which exclude non - core items , were $ 487 million , or $ 0.23 per share , in the first quarter of 2021 , compared with $ 576 million , or $ 0.89 per share , during the same period in 2020 . The decrease in quarter - over - quarter non - GAAP core earnings per share was primarily driven by the increase in shares outstanding , unrecoverable interest expense , the timing of nuclear refueling outages , the timing of taxes , and wildfire mitigation costs above authorized , partially offset by the growth in rate base earnings .