Dynegy Inc. (DYN) swung to a net loss for the year ended Dec. 31, 2016. The company has made a net loss of $1,240 million, or $ 9.78 a share in the year, against a net profit of $50 million, or $0.22 a share in the last year.
Revenue during the year grew 11.58 percent to $4,318 million from $3,870 million in the previous year. Gross margin for the year contracted 42 basis points over the previous year to 47.17 percent. Operating margin for the year stood at negative 14.82 percent as compared to a positive 1.65 percent for the previous year.
Operating loss for the year was $640 million, compared with an operating income of $64 million in the previous year.
However, the adjusted EBITDA for the year stood at $1,007 million compared with $850 million in the prior year period. At the same time, adjusted EBITDA margin improved 136 basis points in the year to 23.32 percent from 21.96 percent in the last year period.
"The ENGIE acquisition solidified the transformation of our wholesale generation business we began in 2013. We have built the most efficient and lowest-cost platform in the industry while migrating our portfolio to a gas-dominated fleet in the ERCOT, NE-ISO and PJM markets. Our portfolio today has the longevity required for success," said Dynegy president and chief executive officer Robert C. Flexon.
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