Dynegy (NYSE:DYN) reported on Tuesday a narrowed fourth-quarter loss, as lower operating expenses driven by asset sales helped to offset weaker profits across its three primary regions.
The Houston-based company posted a net loss of $164 million, or $1.36 a share, compared with a loss of $355 million, or $2.33 a share, in the same quarter last year.
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Revenue for the electric energy producer was $451 million, up from $441 million a year ago, missing the Street’s view of $476.41 million.
Earnings in its power generation business slipped during the year to $676 million from $954 million in the year-earlier amid decreased contributions from financial transactions across all regions that more than offset improved prices and spark spreads.
Cushioning earnings during the period, however, were lower operating expenses, due primarily to the sale of certain assets.