Dynegy Swings To Q2 Profit

(RTTNews) - Dynegy Inc. (DYN) reported net income for the second quarter of $382 million or $2.73 per share, compared to a net loss of $123 million or $1.23 per share for the year-ago quarter.

Revenue for the second quarter rose to $990 million from $521 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.37 per share on revenue of $960.72 million for the second quarter.

Dynegy reaffirmed its full year 2015 Adjusted EBITDA and Free Cash Flow guidance ranges at $825 million to $1,025 million and $100 to $300 million, respectively.

Dynegy also said its Board of Directors has authorized a share repurchase program accelerating the company's capital allocation plans. The share repurchase program for up to $250 million is being initiated in the third quarter of 2015 with targeted completion in 2016, the company said.