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Dynegy Slips 9% on Disappointing Q3; EPS, Revs Miss Consensus
By: MT Newswires
Dynegy ( DYN ) is down 8% after the company reported disappointing third quarter results earlier. The company saw a loss of $0.61 per share, compared with the prior-year period's $0.20 loss per share. Analysts had expected a loss of $0.20 per share, according to Thomson Reuters.
Revenues declined 33.4% to $516 million, versus analysts' estimates of $688.62 million.
The company said that it tripled its losses in the quarter because it generated less energy among its coal and natural gas power plants. It added that power prices fell 2% for coal-fired plants and 8.5% for natural gas plants.
Shares are down $0.26 to $2.69, near their 52-week low of $2.35.