* Q4 EPS $0.30 vs est $0.24 * Revenue down 30 pct *
Maintains 2010 EPS view * Sees 2011 EPS of $3.45-$3.85
Feb 22 (BestGrowthStock) – Power company Constellation Energy Group
Inc (CEG.N: ) reported a fourth-quarter adjusted profit that beat
analysts’ estimates, helped by a 45 percent decline in costs,
but revenue missed Wall Street view by a large margin.
The company, which provides energy products and services,
also reaffirmed its 2010 earnings guidance of $3.05 to $3.45
per share, compared with analysts’ view of $3.36 a share.
For the quarter, net income applicable to common
shareholders was $4.42 billion, or $21.96 a share, compared
with a loss of $1.41 billion, or $7.75 a share, last year. The
latest fourth quarter includes a gain of about $4.5 billion
from the sale of its stake in its nuclear unit to Electricite
de France (EDF.PA: ).
Excluding items, profit was 30 cents a share.
Quarterly revenue was down 30 percent at $3.40 billion.
Analysts on average were expecting the company to post a
profit of 24 cents a share, before items, on revenue of $4.35
billion, according to Thomson Reuters I/B/E/S.
Total expenses for the quarter declined to $3.41 billion,
partly due to lower fuel and purchased energy expenses.
Shares of the company closed at $34.58 Friday on the New
York Stock Exchange.
Stock Market Trading
(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by
Anne Pallivathuckal)
UPDATE 1-Constellation Energy Q4 EPS beats, revenue trails
