Dynegy Inc. reported second-quarter 2017 loss of 83 cents per share wider than the Zacks Consensus Estimate loss of 22 cents.
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.
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.
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.
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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