PG&E Corporation outlined expectations for recent legislation's impact on wildfire liability during an investor call Monday, while addressing investor questions about capital allocation.
CEO Patricia Poppe characterized the new law as providing "important protections today" while establishing "the foundation for a second phase" of more comprehensive wildfire reform for the post bankruptcy and beleaguered utility.
But analysts on the call pressed executives about capital allocation and potential share buybacks.
"What would be the time frame for you to seek Board approval for buyback flexibility? Do we need to wait until the end of the '26 legislative session?" asked Wells Fargo analyst Shahriar Pourreza.
