Power earnings roundup: PG&E, AEP, Allegheny, NRG among those posting on busy day

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Related Companies Allegheny Energy Inc. (AYE) ALLETE Inc. (ALE) Alliant Energy (LNT) Ameren Corp. (AEE) American Electric Power Co. (AEP) Black Hills Corp. (BKH) Calpine Corp. (CPN) CMS Energy Corp. (CMS) Constellation Energy Group Inc (CEG) Dominion Resources Inc. (D) DTE Energy Co. (DTE) Duke Energy Corp (DUK) El Paso Electric Co. (EE) Energy Future Holdings Corp Great Plains Energy (GXP) MDU Resources Group Inc. (MDU) NiSource Inc. (NI) NRG Energy Inc. (NRG) OGE Energy Corp. (OGE) Otter Tail Corp. (OTTR) Pepco Holdings Inc. (POM) PG&E Corp. (PCG) Pinnacle West Capital Corp. (PNW) PNM Resources Inc. (PNM) Portland General Electric Co. (POR) PPL Corp. (PPL) Progress Energy Inc. (PGN) TECO Energy Inc. (TE) UIL Holdings Corp. (UIL) Vectren Corp. (VVC) Westar Energy Inc. (WR) Wisconsin Energy Corp. (WEC) Xcel Energy Inc. (XEL)

Related Documents Earnings Release (ER) El Paso Electric Co. 9/30/2009, filed on 10/29/2009

Related Articles 10/29/2009 Great Plains' Q3 earnings fall on wholesale revenue, operating expenses 10/29/2009 DTE posts lower Q3 earnings on utility segments 10/29/2009 Pinnacle West posts Q3'09 net income of $186.7M 10/29/2009 Westar reports Q3'09 earnings dip, affirms '09 guidance 10/29/2009 Pepco's Q3 earnings improve on special items 10/29/2009 PNM Resources swings to profitability in Q3'09, raises full-year guidance 10/29/2009 PGE reports jump in Q3'09 profits on prior-year special item, 2009 rate case 10/29/2009 Allegheny Energy's Q3'09 net falls; adjusted earnings rise on delivery results 10/29/2009 PG&E reports 4.6% rise in Q3'09 net income; EPS remains flat 10/29/2009 Xcel Energy posts slight decline in Q3'09 earnings on cooler weather 10/29/2009 NRG Energy Q3 EPS down on commodity, economy challenges; initiates '10 guidance 10/29/2009 Wisconsin Energy's Q3 net income hit by weak sales 10/29/2009 PPL net income tumbles 90% on special items; ongoing earnings rise 10/29/2009 AEP Q3'09 net income up 18%, EPS flat on share dilution

One of the busiest days of the third-quarter 2009 earnings season in the power sector came Thursday, Oct. 29, with reports from American Electric Power Co. Inc., Allegheny Energy Inc., DTE Energy Co., El Paso Electric Co., Great Plains Energy Inc., NRG Energy Inc., PG&E Corp., PNM Resources Inc., Pinnacle West Capital Corp., Pepco Holdings Inc., Portland General Electric Co., PPL Corp., Wisconsin Energy Corp., Westar Energy Inc. and Xcel Energy Inc.

AEP reported third-quarter GAAP and ongoing earnings of $443 million, or 93 cents per share, compared to third-quarter 2008 GAAP and ongoing earnings of $374 million, or 93 cents per share. The Thomson First Call mean earnings estimate for the quarter was 85 cents per share, according to SNL Financial.

Allegheny reported third-quarter 2009 net income attributable to the company of $77 million, or 45 cents per share, compared to $89 million, or 52 cents per share, in the same quarter of 2008. The company reported third-quarter adjusted net income of $100.1 million, or 59 cents per share, compared to $91.4 million, or 54 cents per share, in the year-ago period. The Thomson First Call mean estimate for the quarter was 53 cents per share.

DTE reported third-quarter net income attributable to the company of $158 million, or 96 cents per share, compared to $177 million, or $1.08 per share, in the year-ago period. The Thomson First Call mean estimate for the quarter was 99 cents per share.

El Paso Electric reported net income of $33.9 million for the quarter, or 76 cents per share, compared to $33.1 million, or 74 cents per share, in the third quarter of 2008. The Thomson First Call mean estimate for the quarter was 66 cents per share.

Great Plains reported third-quarter 2009 net income available to common shareholders of $78.7 million, or 58 cents per share, compared to $104.6 million, or 92 cents per share, in the third quarter of 2008. The Thomson First Call mean estimate for the quarter was 68 cents per share.

NRG reported third-quarter 2009 net income attributable to NRG common stockholders of $278 million, or $1.02 per share, compared to third-quarter 2008 net income attributable to NRG common stockholders of $778 million, or $2.81 per share. The Thomson First Call mean estimate for the quarter was $1.14 per share.

PG&E reported third-quarter 2009 net income available to common shareholders of $318 million, or 83 cents per share, compared to $304 million, or 83 cents per share, for the same quarter of 2008. On a non-GAAP basis, PG&E reported third-quarter earnings from operations of $358 million, or 93 cents per share, compared to $304 million, or 83 cents per share, in the year-ago period. The Thomson First Call mean earnings estimate for the quarter was 91 cents per share.

PNM Resources reported third-quarter 2009 net income attributable to the company of $54.2 million, or 59 cents per share, compared to a loss of $5.5 million, or 6 cents per share, in the same quarter of 2008. The company reported ongoing earnings for the quarter of $57.8 million, or 63 cents per share, compared to $23.6 million, or 27 cents per share, in the year-ago period. The Thomson First Call mean estimate for the quarter was 39 cents per share.

Pinnacle West reported third-quarter 2009 net income attributable to common shareholders of $186.7 million, or $1.84 per share, compared to $151.6 million, or $1.50 per share, in the year-ago period. The Thomson First Call mean estimate for the quarter was $1.75 per share.

Pepco reported third-quarter 2009 consolidated earnings of $124 million, or 56 cents per share, compared to $119 million, or 59 cents per share, in the year-ago quarter. Third-quarter earnings excluding special items were $97 million, or 44 cents per share, compared to $119 million, or 59 cents per share, in the third quarter of 2008. The Thomson First Call mean estimate for the quarter was 42 cents per share.

Portland General Electric reported third-quarter 2009 net income attributable to the company of $32 million, or 43 cents per share, compared to break-even results in the year-ago period. The Thomson First Call mean estimate for the quarter was 23 cents per share.

PPL reported third-quarter net income attributable to the company of $20 million, or 5 cents per share, compared to $203 million, or 54 cents per share, in the third quarter of 2008. PPL's third-quarter 2009 earnings from ongoing operations were $195 million, or 52 cents per share, compared to $168 million, or 45 cents per share, in the year-ago period. The Thomson First Call mean estimate for the quarter was 45 cents per share.

Wisconsin Energy reported third-quarter 2009 net income of $58.5 million, or 50 cents per share, compared to $77.5 million, or 65 cents per share, in the third quarter of 2008. The Thomson First Call mean estimate for the quarter was 52 cents per share.

Westar reported third-quarter 2009 net income attributable to common stock of $80.9 million, or 73 cents per basic share, compared to third-quarter 2008 net income attributable to common stock of $88 million, or 80 cents per basic share. The Thomson First Call mean estimate for the quarter was 76 cents per share.

Xcel Energy reported third-quarter 2009 net income of $220.8 million, or 48 cents per share, compared to $222.8 million, or 51 cents per share, in the third quarter of 2008. The Thomson First Call mean estimate for the quarter was 50 cents per share.

Black Hills Corp., Otter Tail Corp. and Vectren Corp. are expected to report earnings Oct. 29 but had not reported as of press time.

On another busy earnings day, Energy Future Holdings Corp., Ameren Corp., ALLETE Inc., Constellation Energy Group Inc., Calpine Corp., CMS Energy Corp., Duke Energy Corp., Dominion Resources Inc., Alliant Energy Corp., MDU Resources Group Inc., NiSource Inc., OGE Energy Corp., Progress Energy Inc., TECO Energy Inc. and UIL Holdings Corp. are expected to report earnings on Friday, Oct. 30.