Constellation net slides 25% to $145.7 million with Merchant slump offsetting BGE increase

摘要

Constellation Energy Group's first-quarter net income slid 25.5% from the 2007 quarterly record to $145.7 million, with a slump in the Merchant Energy segment more than offsetting a gain at Baltimore Gas & Electric. Total revenue dipped 5.5% to $4.83 billion. Basic earnings per share fell 24.1% to 82 cents and diluted 24.3% to 81 cents, on 178.2 million average basic shares, down 1.3%, and 180.2 million diluted, down 1.4%. Merchant Energy's net slumped 40% to $72 million, with revenue down 11% to $3.73 billion, as gross margin slid 2.2% to $663 million, led by a 43.6% slump in the Global Commodities segment, to $66 million. Customer Supply (to BGE) gross margin dripped 15.4% to $99 million.