NEW YORK – Power producer Dynegy Inc. (DYN) on Tuesday reported a smaller third-quarter profit as it faced legal and settlement charges for litigation related to its customer risk management unit.
The Houston-based company posted a profit applicable to common stockholders of $23 million, or 6 cents per share, down from $72 million, or 16 cents per share, in the year-earlier period.
Analysts polled by Reuters Estimates expected a loss of 2 cents per share in the period.
For the full year, the company raised its outlook on net income applicable to common shareholders to a range of $435 million to $455 million, from $400 million to $410 million as previously forecast.
But for 2006 the company forecast a loss applicable to common shareholders of anywhere from $5 million to $75 million.