Business
Why the AGL (ASX:AGL) share price has fallen 6% today
Australia’s biggest electricity and gas retailer, AGL Energy Limited (ASX: AGL) has downgraded its earnings guidance for the FY21 financial year.
This follows the company’s transformer incident at its Liddell Power Station in New South Wales last week. At the time of writing, the AGL share price has fallen 5.75% to $12.46.
What did AGL announce today
AGL announced that it now expects underlying profit after tax (NPAT) for FY21 to be between $500 million and $580 million, down from the previous guidance range of $560 million to $660 million.
The company acknowledged this was a direct result of last Thursday’s transformer incident at Liddell Unit 3, which seriously injured one of its workers.
AGL expects the Liddell unit will not…
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