Revenue during the quarter dropped 3.90 percent to $1,184 million from $1,232 million in the previous year period. Gross margin for the quarter contracted 534 basis points over the previous year period to 44.26 percent. Operating margin for the quarter stood at negative 9.88 percent as compared to a positive 8.69 percent for the previous year period.

Operating loss for the quarter was $117 million, compared with an operating income of $107 million in the previous year period.

However, the adjusted EBITDA for the quarter was almost stable at $350 million, when compared with the prior year period. At the same time, adjusted EBITDA margin improved 115 basis points in the quarter to 29.56 percent from 28.41 percent in the last year period.

“We remain on track to acheive our 2016 Adjusted EBITDA and Free Cash Flow guidance,” said Dynegy President and Chief Executive Officer Robert C. Flexon. “As we wait for FERC approval on our ENGIE North American Power acquisition we have completed all of the necessary financings to close the transaction and are prepared for full integration on Day 1. Our debt reduction efforts remain a priority and, as part of this effort, the successful restructuring of Genco eliminates over $600 million in consolidated debt by the first quarter of 2017. In light of the low commodity price environment, we will continue to conservatively manage our balance sheet into and beyond 2017.”