Dynegy Inc. (DYN - Free Report) reported second-quarter 2017 loss of 83 cents per share wider than the Zacks Consensus Estimate loss of 22 cents.
Revenue
Dynegy's revenues came in at $1,164 million in the second quarter, beating the Zacks Consensus Estimate of $972 million by 19.7%. Revenues also increased 28.8% year over year from $904 million.
Highlights of the Release
Operating and maintenance expenses for the quarter were recorded at $282 million, up 10.2% from $256 million for the corresponding quarter in the previous year.
Interest expenses in the reported quarter increased 12.8% year over year to $159 million from $141 million.
During the quarter the company generated in excess of 25 million megawatt hours of electricity.
As of Jun 30, the company had $1.4 billion in liquidity. Dynegy received nearly $480 million from the sale of Troy and Armstrong facilities received in July.
Financial Update
As of Jun 30, Dynegy’s cash and cash equivalents were $447 million compared with $1,692 million at the end of 2016.
Cash from operating activities was $230 million for the first half of 2017.
Guidance
Dynegy reaffirmed its full-year 2017 adjusted EBITDA guidance in the range of $1,200–1,400 million.
The company also reiterated adjusted free cash flow range in the range of $300–$500 million.
Zacks Rank
Dynegy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Utilities
Among other players from the industry that have reported their second-quarter earnings, both NextEra Energy, Inc. (NEE - Free Report) and Eversource Energy (ES - Free Report) beat their respective Zacks Consensus Estimate, while FirstEnergy Corporation (FE - Free Report) reported earnings on par with the Zacks Consensus Estimate.
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Dynegy Inc. (DYN - Free Report) reported second-quarter 2017 loss of 83 cents per share wider than the Zacks Consensus Estimate loss of 22 cents.
Revenue
Dynegy's revenues came in at $1,164 million in the second quarter, beating the Zacks Consensus Estimate of $972 million by 19.7%. Revenues also increased 28.8% year over year from $904 million.
Highlights of the Release
Operating and maintenance expenses for the quarter were recorded at $282 million, up 10.2% from $256 million for the corresponding quarter in the previous year.
Interest expenses in the reported quarter increased 12.8% year over year to $159 million from $141 million.
During the quarter the company generated in excess of 25 million megawatt hours of electricity.
As of Jun 30, the company had $1.4 billion in liquidity. Dynegy received nearly $480 million from the sale of Troy and Armstrong facilities received in July.
Financial Update
As of Jun 30, Dynegy’s cash and cash equivalents were $447 million compared with $1,692 million at the end of 2016.
Cash from operating activities was $230 million for the first half of 2017.
Guidance
Dynegy reaffirmed its full-year 2017 adjusted EBITDA guidance in the range of $1,200–1,400 million.
The company also reiterated adjusted free cash flow range in the range of $300–$500 million.
Zacks Rank
Dynegy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Utilities
Among other players from the industry that have reported their second-quarter earnings, both NextEra Energy, Inc. (NEE - Free Report) and Eversource Energy (ES - Free Report) beat their respective Zacks Consensus Estimate, while FirstEnergy Corporation (FE - Free Report) reported earnings on par with the Zacks Consensus Estimate.
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If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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