Dynegy Is Optimistic on Earnings

Embattled energy provider Dynegy(DYN Quote) issued optimistic guidance Tuesday for its fiscal 2003 earnings.

The Houston-based company said it expects to post a full-year net profit of $31 million to $54 million, or 8 cents a share to 15 cents a share. Wall Street analysts, on average, were projecting that the company would earn 3 cents a share, according to Thomson Financial/First Call. Operating cash flow, including working capital changes, is expected to be $1.2 billion to $1.3 billion in 2003. The estimates don't include businesses the company is currently exiting, such as communications and third-party marketing and trading. ...