Net income at Constellation Energy Group Inc., parent of the R.E. Ginna Nuclear Power Plant LLC in Wayne County, jumped 44.7 percent in the fourth quarter compared with a year ago.
Fourth-quarter net income was $195.2 million, or $1.07 a share, compared with $134.9, or 71 cents a share, a year ago. Revenues climbed to $5.2 billion, up from $3.2 billion.
Analysts surveyed by Thomson First Call expected the company to earn $1 a share.
The Baltimore-based energy provider reported record earnings per share for 2005 of $3.62, up 16 percent from $3.12 in 2004, and exceeding management guidance of $3.35 to $3.60. Analysts polled by Thomson First Call projected 2005 earnings of $3.51.
Full-year net income was $623.1 million, up from $539.7 million in 2004. Revenues for the year totaled $17.1 billion, up from $12.3 billion.
Constellation Energy (NYSE: CEG) has established 2006 guidance of $3.65 to $3.95 a share.
The company last month said it will merge with Florida-based FPL Group Inc., creating the nationâ€™s largest competitive energy supplier and the second-largest electric utility portfolio. The transaction is scheduled to close this year.
The Ginna plant in the town of Ontario employs 440.
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