TXU Earnings Rise

Shares rise as well.
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TXU

(TXU)

said Thursday its third-quarter earnings rose 77.7% from the year-ago period.

The Dallas-based generation company earned $1 billion, or $2.15 a share, in the quarter, compared with a earnings of $565 million, or $1.16 a share, a year ago. Operational earnings, excluding special items and discontinued operations, were $977 million, or $2.10 a share, in the recent quarter, compared with $574 million, or $1.17 a share, a year ago. Latest quarter results included $120 million, or 26 cents a share, of net unrealized hedge ineffectiveness and mark-to-market gains associated with the company's long-term hedging program. On that basis, analysts surveyed by Thomson First Call were expecting earnings of $1.95 a share in the most recent quarter.

Third-quarter revenue rose 5.9% from a year-ago period to $3.51 billion as against analysts' expectation of $3.42 billion.

TXU maintaned its forecast for 2006 operational earnings of $5.50 to $5.75 a share. This excludes the impact of net unrealized hedge ineffectiveness and mark-to-market gains or losses associated with the company's long-term hedging program. Analysts polled by Thomson First Call estimate $5.62 a share for 2006.

For 2006 through 2010, the company plans to invest more than $17 billion in capital expenditures.

The company's shares were trading up 11 cents at $58.61 Thursday.

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