Dynegy Inc. Earnings Cheat Sheet: Loss Narrows but Misses Estimates

Dynegy Inc.’s (NYSE:DYN) second quarter loss narrowed due mainly to positive revenue growth. Dynegy, Inc. is an holding company conducts substantially all of its business operations through its subsidiaries. Its business is the production and sale of electric energy, capacity and ancillary services.

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Dynegy Earnings Cheat Sheet for the Second Quarter

Results: Loss narrowed to $116 million (loss of 95 cents per diluted share) from $191 million (loss of $1.59 per share) in the same quarter a year earlier.

Revenue: Rose 36.4% to $326 million from the year earlier quarter.

Actual vs. Wall St. Expectations: DYN fell short of the mean analyst estimate of a loss of 47 cents per share. It fell short of the average revenue estimate of $539.9 million.

Quoting Management: “Our operating units turned in an excellent performance during the quarter,” said Robert C. Flexon, President and Chief Executive Officer of Dynegy. “In addition, we benefited from an improvement in G&A and Operating costs of approximately $15 million as our improvement efforts, initiated earlier this year, are beginning to show results. A prerequisite to our successful restructuring is the continued safe, reliable, and in compliance operations of our plants while reducing our cost structure.”

Key Stats:

The company has now fallen short of estimates in the last two quarters. In the first quarter, it missed expectations by 20 cents with a loss of 59 cents versus a mean estimate of a loss of 39 cents per share.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 41.1% to $505 million in the first quarter from the year earlier.

Competitors to Watch: Calpine Corporation (NYSE:CPN), NRG Energy, Inc. (NYSE:NRG), Constellation Energy Group, Inc. (NYSE:CEG), Genon Energy Inc (NYSE:GEN), The AES Corporation (NYSE:AES), Atlantic Power Corporation (ATP), ALLETE, Inc. (NYSE:ALE), The Southern Company (NYSE:SO), Integrys Energy Group, Inc. (NYSE:TEG), and CenterPoint Energy, Inc. (NYSE:CNP).

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(Source: Xignite Financials)