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PG&E Projects 2020 Profit, Says It’s on Track to Exit Bankruptcy

Feb. 18, 2020, 7:08 PM

Embattled California power giant PG&E Corp. expects to earn a $454 million profit this year as it pushes to emerge from the largest utility bankruptcy in U.S. history.

The company, which had a $7.7 billion loss for 2019, released projections Tuesday forecasting total earnings for common shareholders will be positive in four of the next five years, rising to $2.4 billion in 2024. The utility expects a $54 million loss in 2021.

The San Francisco-based company cautioned that the projected earnings forecast was made to help determine the feasibility of its Chapter 11 plan and is not intended to comply...

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