Dynegy Inc.recorded a $166 million year-over-year increase in its 2016 first-quarteradjusted EBITDA to $251 million, primarily driven by acquisitions in the secondquarter of 2015 and higher capacity sales at the segment.
Dynegy in April 2015 acquired DukeEnergy Corp.'s 6,100-MW Midwest generation business and another6,300 MW in PJM and ISO New England from Energy Capital Partners.
Adjusted EBITDA at the gas segment rose to $212 million inthe first quarter from $82 million and the coal segment tallied adjusted EBITDAof $50 million, up from $10 million in the year-ago quarter. IPH adjustedEBITDA came in at $21 million in the first quarter, compared with $22 millionin the same period of 2015.
"The performance of the plants acquired last yearcontinues to significantly contribute to the company's favorable financialperformance. As a result, Dynegy remains on track to meet our 2016 guidancerange for adjusted EBITDA and free cash flow," Dynegy President and CEORobert Flexon said in the company's May 3 earnings release.
The first-quarter 2016 net loss attributable to Dynegyshareholders improved to $15 million, or 13 cents per share, from a loss of$185 million, or $1.49 per share, in the 2015 first quarter. Operating incomejumped to $145 million from an operating loss of $40 million in the 2015 firstquarter.
Dynegy affirmed its full-year 2016 adjusted EBITDA guidancerange at $1 billion to $1.20 billion and free cash flow guidance range of $200million to $400 million.