Constellation Profit Falls 26 Percent

From the Associated Press

Constellation Energy Group of Baltimore said its first-quarter earnings fell 26 percent, to $145.7 million (81 cents a share) from $195.7 million ($1.07 in the comparable period a year earlier, the dragged down by its merchant energy unit. Revenue fell 6 percent, to $4.83 billion.
The company said earnings in its merchant energy segment dropped to 40 cents per share, from 67 cents a year ago. Constellation said the unit was hurt by commodity hedges, coal supplier defaults and lower retail power margins.
Constellation reaffirmed its earnings guidance for the full-year within the range Wall Street expects.The company still estimates profit of $5.25 to $5.75 per share. Constellation forecasts 2009 earnings will top 2008 by 15 to 20 percent.

By Terri Rupar  |  April 30, 2008; 10:33 AM ET  | Category:  Energy
Previous: Early Briefing: What United-US Airways Could Mean Here | Next: Higher Tuition, Enrollment Boost Strayer


Please email us to report offensive comments.

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company