Diversified energy provider
reported a net loss for the fourth quarter, caused partly by charges related to its canceled merger with Warren Buffett's MidAmerica Energy Holdings.
The firm said it generated a $1.41 billion net loss in the quarter, or $7.75 per share, compared to net income of $258.1 million, or $1.42 per share, a year earlier.
Constellation incurred extraordinary charges totaling $7.78 per share. Excluding these items, Constellation earned 3 cents per share. A
analyst census had forecast earnings of $1.16 per share.
The company generated $4.93 billion in revenue during the quarter, compared with $5.35 billion in the fourth quarter of 2007.
"Reflecting on the events of 2008, we have commenced a comprehensive restructuring that will emphasize our core businesses," Mayo A. Shattuck III, chairman and CEO of Constellation Energy, said in a press release.
Shares of Constellation Energy were recently down $2.40, or 9.9%, to $21.87.