Exelon's Profit Slides, Revenues Too

Before you go, we thought you'd like these...
Before you go close icon

Exelon Corp. (NYSE: EXC) reported third-quarter 2012 earnings this morning. The power company posted adjusted diluted earnings per share (EPS) of $0.77 on revenues of $6.57 billion. In the same period a year ago, the company reported EPS of $1.12 on revenues of $5.25 billion. First-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.72 and $7.99 billion in revenues.

On a GAAP basis, the company posted EPS of $0.35, compared with EPS of $0.90 in the third quarter of 2011.

The rather dismal showing was attributed to lower margins at the company's power generation plants, lower production at the company's nuclear plants, higher operating and maintenance costs, and a lowered regulated rate of return on equity. Nuclear fuel costs also rose during the period.

Exelon raised its adjusted EPS forecast for the full 2012 fiscal year to $2.75 to $2.95. The current consensus estimate calls for $2.75.

The company's PECO division was hit hard by Hurricane Sandy, which cut power to about 850,000 homes in southeastern Pennsylvania. About 500,000 have had power restored so far, and most of the rest are expected to have the lights back on by Friday evening. That will have some impact on fourth-quarter results, but Exelon says it has accounted for the costs in its new forecast.

The company's shares are inactive on the premarket this morning, having closed at $35.78 last night in a 52-week range of $34.54 to $445.45. The consensus target price for the shares was around $37.21 before today's report.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Earnings, Utilities Tagged: EXC
Read Full Story


S&P 500 2,343.98 -1.98 -0.08%
DJIA 20,596.72 -59.86 -0.29%
NASDAQ 5,828.74 11.04 0.19%
DAX 12,064.27 24.59 0.20%
NIKKEI 225 18,970.44 -292.09 -1.52%
HANG SENG 24,290.72 -67.55 -0.28%
USD (per EUR) 1.08 0.00 -0.03%
USD (per CHF) 0.99 0.00 -0.03%
JPY (per USD) 110.39 -0.16 -0.15%
GBP (per USD) 1.25 0.00 0.15%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners