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Ginna parent beats Street in quarter

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 nation’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.

(c) 2006 Rochester Business Journal. Obtain permission to
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Ginna parent beats Street in quarter

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.

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