TXU reports first quarter loss of $497 million

by PegNews wire

DALLAS — TXU Corp. today reported consolidated results for the first quarter ended March 31, 2007. TXU reported a net loss available to common shareholders of $497 million in the first quarter 2007 compared to net income available to common shareholders of $576 million in the first quarter 2006.

Photo not provided by TXU

TXU should really be more careful with that $497 million

Reported earnings for first quarter 2007 included net after-tax expenses of $941 million that was primarily related to a charge associated with the first quarter suspension of the proposed coal plants.

Operational earnings also took a nosedive, at $444 million in the first quarter 2007 compared to $529 million in the first quarter 2006. TXU claims that operational earnings were expected to be lower than the prior-year quarter due to the planned extended outage at the Comanche Peak nuclear generation plant as well as lower average retail pricing.

Interested readers (and extremely interested investors) can read the full report here.

Source: TXU