HOUSTON - (Business Wire) Dynegy Inc. (NYSE:DYN) today announced that it plans to report first quarter 2008 financial results before the opening of the New York Stock Exchange on Thursday, May 8, 2008. In connection with the announcement, Dynegy Chairman, President and Chief Executive Officer Bruce A. Williamson and members of the company
’s senior management team will discuss results during an investor presentation to be web cast live beginning at 10 a.m. ET/9 a.m. CT on May 8.
During the investor presentation, Dynegy will introduce certain non-GAAP financial measures that management uses to evaluate its business. Management believes the additional information will assist investors in evaluating the company’s quarterly financial results and the performance of its operating assets on an ongoing basis. The new financial measures are as follows:
- Adjusted EBITDA, which is EBITDA excluding significant items such as discontinued operations and gains or losses on the sale of assets, while also excluding the impact of mark-to-market changes in value in the power generation business;
- Adjusted cash flow from operations, which is cash flow from operations excluding cash payments on significant items; and
- Adjusted free cash flow before environmental capital expenditures, which is Adjusted cash flow from operations, less maintenance capital expenditures.
These new measurements, which will be fully defined during the May 8 presentation, will be referenced relative to Dynegy’s first quarter 2008 financial results compared to prior year and 2008 cash flow and earnings estimates. These new measures will also be reconciled to the most relevant GAAP financial measures for the same periods.
The listen-only web cast on May 8 can be accessed via the “Investor Relations” section of the company’s web site at www.dynegy.com. For persons unable to listen to the live web cast, the call will be archived and available for replay in the previously mentioned section of the company’s web site until second quarter 2008 financial results are announced.
Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets. The company’s power generation portfolio consists of more than 19,000 megawatts of baseload, intermediate and peaking power plants fueled by a mix of coal, fuel oil and natural gas. DYNC
Certain statements included in this news release are intended as “forward-looking statements.” These statements include assumptions, expectations, predictions, intentions or beliefs about future events Dynegy cautions that actual events may vary, in some cases materially, from those expressed or implied in any forward-looking statement. More information about the risks and uncertainties relating to these forward-looking statements can be found in Dynegy’s SEC filings available free of charge on the SEC’s website at http://www.sec.gov. Dynegy expressly disclaims any obligation to update any forward-looking statements contained in this news release to reflect events or circumstances that may arise after the date of this release, except as otherwise required by applicable law.
Dynegy Inc., Houston
Media: David Byford, 713-767-5800
or
Analysts: Nir Grossman, 713-507-6466
