expects an electrifying fourth quarter.
The energy company, which based in Houston, said today it expects to "significantly exceed" previous fourth-quarter earnings estimates of 22 cents to 25 cents a share. According to
First Call/Thomson Financial
, 14 analysts produced a consensus estimate of 25 cents a share for the company's fourth quarter.
In addition, Dynegy reaffirmed that it is comfortable with the upper range of current estimates for 2001, which it said translates into a 30% increase over 2000 earnings. Analysts on average are expecting fiscal 2000 earnings of $1.34 a share and fiscal 2001 earnings of $1.75 a share. The company earned 44 cents in 1999.
Shares of the company recently dropped $4, or 8.2%, to $44.75 in
New York Stock Exchange