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Dynegy swings to $272 million quarterly loss

LONDON (MarketWatch) — Dynegy swung to a second-quarter loss of $272 million, or 32 cents a share, as revenue dropped 61% to $323 million. It recorded mark-to-market losses of $293 million after tax on foward power sales. The impacts of Midwest floods, regional weather patterns and transmission congestion also hurt profits. Analysts polled by FactSet Research had expected a profit of 4 cents a share. Dynegy expects adjusted earnings before interest, tax, depreciation and amortization of $955 million for the year, compared to analyst estimates of $1.08 billion.
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Original post by Forextvblog

This entry was posted on Thursday, August 7th, 2008 at 4:55 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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