fw rahil jafry usa update 4 dynegy hits upper end q 3 earnings targets fyi hope well good customer run last week r rahil jafry e mail rahil jafry enron com work 713 853 3206 cell 281 704 1060 original message djcustomclips djinteractive com 168842 mailman enron com sent mon oct 15 15 46 51 2001 subject rahil jafry usa update 4 dynegy hits upper end q 3 earnings targets usa update 4 dynegy hits upper end q 3 earnings targets 10 15 2001 reuters english news service c reuters limited 2001 houston oct 15 reuters natural gas power marketer trader dynegy inc said monday third quarter net earnings rose 62 percent backbone wholesale energy business nearly doubled returns houston based company said earnings rose 286 million 85 cents per diluted share 177 million 55 cents per diluted share period 2000 companywide operating revenues rose 8 51 billion third quarter 2001 versus 8 36 billion similar year ago period analysts polled thomson financial first call expected earnings range 77 cents 85 cents share mean estimate 82 cents dynegy also said raised earnings estimate 2001 year range 2 09 2 10 per diluted share 2 07 target set oct 1 maintained fourth quarter forecast 40 cents 41 cents share 2002 forecast 2 50 2 60 share line analysts estimates chief financial officer robert doty said company track achieve 20 percent 25 percent earnings growth next year long term strategy focus marketing trading around physical assets supports earnings sustainability chairman chief executive officer chuck watson said statement would say company ability continuously post strong earnings growth illustrates ability successfully navigate wildly various operating environments ubs warburg analyst jay yannello said company rapidly emerged leading player field stocks sector hammered sharply past six months dynegy better performer similar companies dynegy stock year fallen 15 percent outperforming standard poor utilities index lost 21 percent despite strong earnings growth shares dynegy 1 02 2 34 percent 42 63 monday afternoon trading analysts cited rumors california public utilities commission cpuc wants renegotiate power purchase contracts california department water resources holds companies like dynegy calpine corp mirant corp williams cos inc spokesman department water resources however said plan renegotiate deals companies renegotiate contracts time question maintain value contracts lose value contracts said analyst jeff dietert simmons co think assumption market making dynegy others would lose value contracts dynegy still accounts receivable balance 320 325 million power produced cash challenged california utilities woods yet said president chief operating officer stephen bergstrom conference call noted could resolution second third quarter next year pg e corp pacific gas electric utility sought bankruptcy april filed reorganization plan sept 20 edison international southern california edison utility plans pay creditors march settlement reached cpuc wholesale income nearly doubles dynegy marketing trade company main wholesale business reported 85 percent year year increase recurring net income taking 263 million year compared 142 million comparable quarter 2000 among things dynegy trades wholesale natural gas power coal emission allowances weather derivatives company attributed part improved performance quarter better results european canadian operations including increased gas marketing canada north american natural gas volumes grew 12 percent 11 0 billion cubic feet per day bcf quarter rising 9 8 bcf year earlier period total physical power sales increased 86 percent 90 5 million megawatt hours mwh 2001 third quarter compared 48 7 million mwh quarter year ago dynegydirect company online trading platform 750 products services recorded nearly 10 billion transactions third quarter company said since birth november 2000 dynegydirect recorded 33 billion transactions dynegy recently expanded platform answer hometown rival enron corp wildly successful enrononline trading platform british energy markets one nominally lower performer year illinois power dynegy regulated transmission distribution subsidiary reported recurring net income 26 million versus 27 million year earlier dynegy attributed smaller figure reduced industrial load company new communications segment took 15 million loss quarter mostly costs associated developing 16 000 mile network network reaches 44 u cities expected completed fourth quarter dynegy expects segment record fourth quarter loss nil 3 cents share full year loss 13 cents 16 cents share 2002 company expects unit breakeven end year additional reporting carolyn koo new york newsroom folder name rahil jafry relevance score scale 100 83 review revise folder visit http www djinteractive com contact dow jones customer service e mail custom news bis dowjones com phone 800 369 7466 outside u canada call 609 452 1511 contact local sales representative copyright c 2001 dow jones company inc rights reserved