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Exhibit 99.1
News Release
| Investor Relations and Media contacts: |
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| Steve Himes, 678 579 3655 steve.himes@mirant.com |
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Audrey Emerson, 678 579 3231 audrey.emerson@mirant.com |
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Stockholder inquiries: |
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| 678 579 7777 |
February 26, 2010
Mirant Reports Fourth Quarter and
Year-End 2009 Results
| • | 2009 income from continuing operations of $494 million compared to 2008 income from continuing operations of $1.215 billion |
| • | 2009 adjusted EBITDA from continuing operations of $890 million compared to 2008 adjusted EBITDA from continuing operations of $782 million |
| • | Fourth quarter 2009 adjusted EBITDA from continuing operations of $184 million compared to fourth quarter 2008 adjusted EBITDA from continuing operations of $150 million |
| • | Reduced 2010 adjusted EBITDA guidance from $617 million to $613 million and initiated 2011 adjusted EBITDA guidance of $387 million |
ATLANTA – Mirant Corporation (NYSE: MIR) today reported income from continuing operations for 2009 of $494 million compared to income from continuing operations of $1.215 billion for 2008. Results for 2009 include an impairment charge of $207 million at the Potomac River generating station, and unrealized gains, principally on hedges, of $47 million compared to unrealized gains, again principally on hedges, of $786 million for 2008. Per share results from continuing operations for 2009 were $3.41 per diluted share, compared to $6.11 per diluted share from continuing operations for 2008.
The following information was filed by Mirant Corp (MIR) on Friday, February 26, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: MIR
CIK: 1010775
Form Type: 10-K Annual Report
Accession Number: 0001193125-10-041620
Submitted to the SEC: Fri Feb 26 2010 7:02:01 AM EST
Accepted by the SEC: Fri Feb 26 2010
Period: Thursday, December 31, 2009
Industry: Electric Services
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