DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Exelon Corp. (EXC), the nation's biggest generator of nuclear power, Monday forecast 2010 adjusted earnings of $3.60-$4 a share.
In a slide presentation prepared for the Edison Electric Institute's financial conference, Exelon said it expects to generate cash flow from operations of $4.5 billion next year and will maintain its annual dividend of $2.10 a share.
On Oct. 23, the Chicago-based company posted an 8.2% rise in third-quarter earnings to $757 million, or $1.14 a share. Earnings excluding items such as mark-to-market and nuclear decommissioning fund gains fell to 96 cents from $1.07, matching analysts' expectations.
Exelon Chairman and Chief Executive John Rowe said during a conference call on the results that it will take several years for demand to return to levels seen in 2007 and 2008. He said Exelon remains focused on internal growth rather than merger-and-acquisition activity.
-By Mark Long, Dow Jones Newswires; (212) 416-2145; mark.long@dowjones.com