Dynegy Inc. (DYN, Financial) filed Quarterly Report for the period ended 2009-03-31.
Dynegy Inc. is a provider of energy products and services in North America the United Kingdom and in continental Europe. Products marketed by the company's wholesale marketing operations include natural gas electricity coal emissions natural gas liquids crude oil liquid petroleum gas and related services. The company's wholesale marketing operations are supported by ownership or control of an extensive assetbase and transportation network. Dynegy Inc. has a market cap of $1.55 billion; its shares were traded at around $1.84 with a P/E ratio of 14.2 and P/S ratio of 0.4.
At May 1, 2009 and March 31, 2009, DHI had cash on hand of $646 million and $539 million, respectively, as compared to $670 million at December 31, 2008. The decrease in cash on hand as compared to the end of 2008 is primarily attributable to a dividend of $175 million paid to Dynegy in January 2009 partially offset by cash provided by the operating activities of our power generation business.
Historical Operating Cash Flows. Dynegy s cash flow provided by operations totaled $165 million for the three months ended March 31, 2009. DHI s cash flow provided by operations totaled $183 million for the three months ended March 31, 2009. During the period, our power generation business provided positive cash flow from operations of $255 million from the operation of our power generation facilities, reflecting positive earnings for the period. Corporate and other operations included a use of approximately $90 million and $72 million in cash by Dynegy and DHI, respectively, primarily due to interest payments to service debt and general and administrative expenses, partially offset by interest income.
Dynegy s and DHI s cash flow provided by operations totaled $146 million for the three months ended March 31, 2008. During the period, our power generation business provided positive cash flow from operations of $239 million primarily due to positive earnings for the period, partly offset by an increased use of working capital. Corporate and other operations included a use of approximately $93 million in cash by Dynegy and DHI relating to corporate-level expenses and our former customer risk management business.
Dynegy made $6 million in contributions to DLS Power Holdings during the three months ended March 31, 2008. There was a $25 million cash outflow during the three months ended March 31, 2008 due to changes in restricted cash balances primarily due to a $30 million increase in the Independence restricted cash balance. Finally, Other included $6 million of insurance proceeds and $4 million of proceeds from the liquidation of an investment during the three months ended March 31, 2008.
Historical Cash Flow from Financing Activities. Dynegy s net cash provided by financing activities during the three months ended March 31, 2009 totaled $25 million primarily related to proceeds from long-term borrowings under the Plum Point Credit Agreement Facility. DHI s net cash used in financing activities during the three months ended March 31, 2009 totaled $150 million. This includes a one-time dividend payment from DHI to Dynegy of $175 million offset by $25 million primarily related to proceeds from long-term borrowings under the Plum Point Credit Agreement Facility.
Read the The complete ReportDYN is in the portfolios of Richard Aster Jr of Meridian Fund, Charles Brandes of Brandes Investment.
Dynegy Inc. is a provider of energy products and services in North America the United Kingdom and in continental Europe. Products marketed by the company's wholesale marketing operations include natural gas electricity coal emissions natural gas liquids crude oil liquid petroleum gas and related services. The company's wholesale marketing operations are supported by ownership or control of an extensive assetbase and transportation network. Dynegy Inc. has a market cap of $1.55 billion; its shares were traded at around $1.84 with a P/E ratio of 14.2 and P/S ratio of 0.4.
Highlight of Business Operations:
Cash on Hand. At May 1, 2009 and March 31, 2009, Dynegy had cash on hand of $829 million and $722 million, respectively, as compared to $693 million at December 31, 2008. The increase in cash on hand as compared to the end of 2008 is primarily attributable to cash provided by operating activities of our power generation business.At May 1, 2009 and March 31, 2009, DHI had cash on hand of $646 million and $539 million, respectively, as compared to $670 million at December 31, 2008. The decrease in cash on hand as compared to the end of 2008 is primarily attributable to a dividend of $175 million paid to Dynegy in January 2009 partially offset by cash provided by the operating activities of our power generation business.
Historical Operating Cash Flows. Dynegy s cash flow provided by operations totaled $165 million for the three months ended March 31, 2009. DHI s cash flow provided by operations totaled $183 million for the three months ended March 31, 2009. During the period, our power generation business provided positive cash flow from operations of $255 million from the operation of our power generation facilities, reflecting positive earnings for the period. Corporate and other operations included a use of approximately $90 million and $72 million in cash by Dynegy and DHI, respectively, primarily due to interest payments to service debt and general and administrative expenses, partially offset by interest income.
Dynegy s and DHI s cash flow provided by operations totaled $146 million for the three months ended March 31, 2008. During the period, our power generation business provided positive cash flow from operations of $239 million primarily due to positive earnings for the period, partly offset by an increased use of working capital. Corporate and other operations included a use of approximately $93 million in cash by Dynegy and DHI relating to corporate-level expenses and our former customer risk management business.
Dynegy made $6 million in contributions to DLS Power Holdings during the three months ended March 31, 2008. There was a $25 million cash outflow during the three months ended March 31, 2008 due to changes in restricted cash balances primarily due to a $30 million increase in the Independence restricted cash balance. Finally, Other included $6 million of insurance proceeds and $4 million of proceeds from the liquidation of an investment during the three months ended March 31, 2008.
Historical Cash Flow from Financing Activities. Dynegy s net cash provided by financing activities during the three months ended March 31, 2009 totaled $25 million primarily related to proceeds from long-term borrowings under the Plum Point Credit Agreement Facility. DHI s net cash used in financing activities during the three months ended March 31, 2009 totaled $150 million. This includes a one-time dividend payment from DHI to Dynegy of $175 million offset by $25 million primarily related to proceeds from long-term borrowings under the Plum Point Credit Agreement Facility.
Read the The complete ReportDYN is in the portfolios of Richard Aster Jr of Meridian Fund, Charles Brandes of Brandes Investment.
