Power earnings roundup: Mirant, Edison earnings tumble; Sempra to report Monday

Options Toolbox

Related Companies Central Vermont Public Service (CV) Edison International (EIX) Mirant Corp. (MIR) Sempra Energy (SRE)

Related Articles 11/6/2009 CVPS Q3'09 net income down; 2009 guidance raised 11/6/2009 Breaking News Blog: Edison International adjusts CapEx budget, liquidity and hedge positions 11/6/2009 As Copenhagen nears, expectations are reset 11/6/2009 Breaking News Blog: Investors left shaking heads over AES, Chinese wealth fund deal 11/6/2009 Breaking News Blog: Edison International aggressively growing wind business, seeking PPAs 11/6/2009 Breaking News Blog: Edison Mission Group suffering from emissions policy uncertainties 11/6/2009 Mirant CEO: PJM, New York reserve margin trends 'a worrisome situation' 11/6/2009 Mirant CEO: California earnings 'significantly higher' in 2013 11/6/2009 Edison International earnings fall on Edison Mission Group results 11/6/2009 Mirant Q3'09 net falls, 2009 EBITDA guidance trimmed

Edison International, Mirant Corp. and Central Vermont Public Service Corp. were among the power companies reporting earnings Friday, Nov. 6.

* Edison International on Nov. 6 reported third-quarter 2009 net income attributable to common shareholders of $403 million, or $1.23 per share, compared with net income of $439 million, or $1.33 per share, for the same quarter of 2008. The company reported third-quarter core earnings of $358 million, or $1.09 per share, compared with $482 million, or $1.46 per share, in the year-ago period. The Thomson First Call mean earnings estimate for the quarter was $1.04 per share, according to SNL Financial.

* Mirant reported third-quarter 2009 net income from continuing operations of $55 million, or 38 cents per share, compared with net income from continuing operations of $1.61 billion, or $8.69 per share, in third quarter 2008. Mirant said its results for 2009 include unrealized losses, principally on hedges, of $174 million, compared with unrealized gains, again principally on hedges, of $1.40 billion for 2008. The Thomson First Call mean earnings estimate for the quarter was $1.16 per share.

* Central Vermont Public Service reported third-quarter 2009 net income available for common stock of $6.1 million, or 52 cents per share, compared with net income available for common stock of $6.4 million, or 61 cents per share, in the same quarter of 2008. Total operating revenues for the quarter were $81.8 million, down from $83.8 million a year ago.

* Sempra Energy is expected to report earnings Monday, Nov. 9.