| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 23, 2026 | 8/12 | 2 high, 4 medium, 2 low flags | 2 | 1 | Call sheet → |
| Q1'26 | April 23, 2026 | 10/12 | 1 medium, 5 low flags | 2 | 0 | Call sheet → |
| Q4'25 | February 12, 2026 | 9/12 | 2 medium, 4 low flags | 7 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | Complete annual utility debt financing $4.4B completed in two tranches, annual needs covered |
| Q2'26 | Pending | Achieve investment grade ratings S&P upgraded to one notch below IG, cited operational improvements |
| Q2'26 | Missed | Continue rate reductions for customers No incremental rate reduction in Q2, stuck at same 23% reduction cited in Q1 |
| Q2'26 | Delivered | Move data center projects through pipeline stages Pipeline grew to 12+ GW, though they retroactively changed the definitions |
| Q2'26 | Pending | Deliver 2026 core EPS of $1.64-$1.66 Reaffirmed at midpoint 10% growth, Q2 tracking well |
| Q2'26 | Pending | File 10-year undergrounding plan with OEIS in Q3 Reiterated as on track for Q3 filing |
| Q1'26 | Delivered | Investment grade rating pursuit (Q4) Moody's moved outlook to positive, momentum building |
| Q1'26 | Pending | No new common equity through 2030 (Q4) Reaffirmed financing plan, but contingent on SB 254 outcomes |
| Q1'26 | Exceeded | About 1.5 GW of data centers online by 2030 (Q4) Now expecting 1.8 GW, upgraded outlook based on final engineering progress |
| Q1'26 | Pending | 10-year undergrounding plan filing in Q3 (Q4) Still on track, CPUC guidelines now provide clear path |
| Q1'26 | Pending | 2% to 4% non-fuel O&M savings annually (Q4) Provided specific $24M example from inspection improvements |
| Q1'26 | Pending | 0% to 3% bill growth trajectory (introduced Q4) Reaffirmed and still targeting 0% by 2030 with data center growth |
| Q1'26 | Pending | Core EPS guidance of $1.64 to $1.66 for 2026 (reaffirmed Q4) Q1 at $0.43 puts them on track, strong start |
| Q4'25 | Delivered | Investment grade rating progress Fitch upgraded, S&P and Moody's confirmed metrics meet IG criteria pending SB 254 |
| Q4'25 | Exceeded | Data center pipeline advancement with projects moving to final engineering Final engineering pipeline grew 125% QoQ to 3.6GW |
| Q4'25 | Delivered | 1,000 miles undergrounding milestone Completed with 25% cost reduction vs initial program start |
| Q4'25 | Exceeded | Meet or exceed 2% O&M reduction target Achieved 2.5% reduction, fourth consecutive year exceeding target |
| Q4'25 | Exceeded | Lower electric rates for bundled customers in 2026 Delivered fourth rate reduction in two years, 11% below Jan 2024 levels |
| Q4'25 | Exceeded | 2026 EPS guidance range of $1.62-1.66 Raised low end to $1.64-1.66, tightening range upward |
| Q4'25 | Delivered | Core EPS guidance $1.49-1.51 for 2025 with bias toward midpoint $1.50 achieved at exact midpoint as promised |
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