PG&E swings to a loss on wildfire and Chapt. 11 costs

Published: Nov. 1, 2021 astatine 8:32 a.m. ET

PG&E Corporation said Monday it swung to a third-quarter nonaccomplishment of $1.09 billion, oregon 55 cents a share, from nett income of $83 million, oregon 4 cents a share, successful the year-ago period. The 4th included $1.57 billion, oregon 79 cents a stock successful costs related to its Chapt. 11 reorganization case, and amortization of wildfire security money contributions, probe remedies, and 2019-2020 wildfire-related costs. Adjusted net roseate to 24 cents a stock from 22 cents a share. Operating gross for the 4th totaled $5.47 billion. Analysts expected the institution to gain 26 cents a share, with gross of $5.37 billion. PG&E...