This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Aquila Loss Widens

Aquila (ILA) said its loss widened in the second quarter, hurt by a repositioning program.

The electricity and natural gas service provider lost $155 million, or 41 cents a share, in the quarter, compared with a loss of $27.2 million, or 6 cents a share, a year ago. The current quarter's loss includes $218 million of charges related to an assignment of the company's Elwood tolling contracts and $22.7 million of costs associated with the early retirement of $350 million in debt. Analysts polled by Thomson First Call were expecting the company to lose 5 cents a share.

Second-quarter revenue rose 7.7% to $283 million as against analysts' expectation of $267.2 million in the most recent quarter.

Earnings before interest, taxes, depreciation and amortization for electric utilities increased 37.9% to $38.9 million in the second quarter. For gas utilities, earnings before interest, taxes, depreciation and amortization was $2.6 million in the quarter, compared with a loss of $1 million a year ago. Merchant services reported a loss before interest, taxes, depreciation and amortization of $224.6 million in the second quarter compared with a gain of $7 million in the second quarter of 2005, due to $218 million charge related to the assignment of the Elwood tolling contracts.

"We have executed the initial phase of our debt reduction plan using proceeds received from asset sales through June,'' the Kansas City, Mo.-based company said. "Our repositioning plan continues to strengthen the company's financial position, creating a stable platform to provide the energy needed to meet the growing demand in the communities we serve."



This story was created through a joint venture between TheStreet.com and IRIS.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%
YHOO $44.45 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs