ene : quick read ; strong lq driven by merchant energy , raise 2001 estimate
ene : quick read ; strong lq driven by merchant energy ; raise 2001 estimate
* ene reported lq : 01 eps of $ 0 . 47 vs . $ 0 . 40 last year , above our and
consensus estimates of $ 0 . 43 and $ 0 . 45 , respectively .
* prelim . raise 2001 e eps to $ 1 . 80 based on confidence in cont . strong
growth in wholesale segment . company ups 2001 guidance by $ 0 . 05 to
$ 1 . 75 - $ 1 . 80 .
* ene earnings conference call : 10 am est today . dial - in :
913 - 981 - 4900 .
* highlights : energy merchant - - wholesale volumes up 65 % , ahead of our
40 - 50 % expectation and appear to have benefited from volatility running
double last years level , by our calculation . segment ibit up 76 % , driven by
strong volume growth in both natural gas and power in north america and
europe . bandwidth trading : over 580 transactions executed for the quarter - -
greater than in all of 2000 .
* results include reserve for receivables owed from pcg in california ;
estimate to be approximately $ 580 million .
> >
raymond c . niles
power / natural gas research
salomon smith barney
( 212 ) 816 - 2807
ray . niles @ ssmb . com
s
- ene lqquick 4 - 17 - 01 . doc
- ene lqquick 4 - 17 - 01 . pdf
ene : quick read ; strong lq driven by merchant energy , raise 2001
estimate
ene : quick read ; strong lq driven by merchant energy ; raise 2001 estimate
* ene reported lq : 01 eps of $ 0 . 47 vs . $ 0 . 40 last year , above our and
consensus estimates of $ 0 . 43 and $ 0 . 45 , respectively .
* prelim . raise 2001 e eps to $ 1 . 80 based on confidence in cont . strong
growth in wholesale segment . company ups 2001 guidance by $ 0 . 05 to
$ 1 . 75 - $ 1 . 80 .
* ene earnings conference call : 10 am est today . dial - in :
913 - 981 - 4900 .
* highlights : energy merchant - - wholesale volumes up 65 % , ahead of our
40 - 50 % expectation and appear to have benefited from volatility running
double last years level , by our calculation . segment ibit up 76 % , driven by
strong volume growth in both natural gas and power in north america and
europe . bandwidth trading : over 580 transactions executed for the quarter - -
greater than in all of 2000 .
* results include reserve for receivables owed from pcg in california ;
estimate to be approximately $ 580 million .
> >
raymond c . niles
power / natural gas research
salomon smith barney
( 212 ) 816 - 2807
ray . niles @ ssmb . com
s
- ene lqquick 4 - 17 - 01 . doc
- ene lqquick 4 - 17 - 01 . pdf