Higher fuel costs, lower volumes widen Mirant's loss

For the three months ended March 31 the company lost $152 million, or 70 cents per share, compared with a loss of $52 million, or 20 cents per share, in the year-earlier period.

But excluding $303 million in hedging losses, Mirant earned $158 million, or 66 cents per share, up from adjusted first-quarter 2007 profit of $129 million, or 46 cents per share.

Analysts polled by Thomson Financial expected, on average, earnings per share of 67 cents. Such estimates typically exclude one-time charges and gains.

Revenue declined to $302 million from $351 in the year-earlier quarter.