Uploaded by FinancialNewsOnline on Nov 14, 2011
Dynegy (NYSE:DYN) reported Q3 loss of $0.61. Revenues for the quarter fell 33.4% year-over-year to $516 million, missing consensus estimates of $668.62 million.
Robert C. Flexon, President and Chief Executive Officer of Dynegy said, "Several milestones in Dynegy's restructuring occurred during the third quarter. Our portfolios were realigned by fuel type and financed at the operating level, we initiated our PRIDE operating improvement program, and we made significant progress in addressing our legacy debt load. Our PRIDE initiative has already contributed to the Company's liquidity and earnings through the re-establishment of the first lien collateral arrangement and lower fixed operating costs. Despite these significant changes during the quarter, our operating teams remained focused on safe and reliable operations and performed well."
The company's stock was down 8% at $2.71 in late-morning trading on the New York Stock Exchange.
Dynegy (NYSE:DYN) has potential upside of 67% based on a current price of $2.69 and an average consensus analyst price target of $4.5.
Robert C. Flexon, President and Chief Executive Officer of Dynegy said, "Several milestones in Dynegy's restructuring occurred during the third quarter. Our portfolios were realigned by fuel type and financed at the operating level, we initiated our PRIDE operating improvement program, and we made significant progress in addressing our legacy debt load. Our PRIDE initiative has already contributed to the Company's liquidity and earnings through the re-establishment of the first lien collateral arrangement and lower fixed operating costs. Despite these significant changes during the quarter, our operating teams remained focused on safe and reliable operations and performed well."
The company's stock was down 8% at $2.71 in late-morning trading on the New York Stock Exchange.
Dynegy (NYSE:DYN) has potential upside of 67% based on a current price of $2.69 and an average consensus analyst price target of $4.5.
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