Dynegy Q1 Loss Widens; Affirms 2015 Guidance - Quick Facts

(RTTNews) - Dynegy Inc. (DYN) reported a first quarter net loss attributable to shareholders of $185 million, compared to a loss of $41 million for the 2014 first quarter. Loss per share was from continuing operations was $1.49, compared to a loss of $0.41.

On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.50 for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA was $85 million, compared to $152 million for the 2014 first quarter. The company said $67 million decrease resulted from more moderate weather that contributed to lower realized power prices as well as the expiration of the ConEd contract at Independence.

Revenues were $632 million, compared to $762 million, a year ago. Analysts expected revenue of $704.71 million for the quarter.

Dynegy affirmed full-year 2015 Adjusted EBITDA guidance range of $825 million to $1.03 billion.

Dynegy Inc. also announced it has entered into an amended employment agreement with President and CEO, Robert Flexon, that extends the term of the agreement through April 2018. Flexon has been CEO of the company since 2011.