ADVFN - Advanced Financial Network.
HOME» NYSE » E » EXC Stock Price » EXC Stock News

Exelon Share News

 Exelon Corp. Stock Price
EXC Stock Price
 Exelon Corp. Stock Chart
EXC Stock Chart
 Exelon Corp. Stock News
EXC Stock News
 Exelon Corp. Company Information
EXC Company Information
 Exelon Corp. Stock Trades
EXC Stock Trades

Exelon 1Q Net Slips 70% On Merger Costs, Margins Weaken

DOW JONES NEWSWIRES Exelon Corp.'s (EXC) first-quart earnings fell 70% as costs related to the electric and gas utility's merger with Constellation Energy Group Inc. weighed on results and as margins weakened. Exelon, the largest operator of nuclear plants in the U.S., completed its acquisition of Constellation in March. The merger, an all-stock deal valued at nearly $8 billion, allows Exelon to absorb Constellation's nuclear fleet and large retail power business. However, the deal prompted Moody's Investors Service to downgrade its investment-grade rating on Exelon by a notch, noting the companied company will likely see negative free cash flow for several years. Exelon owns Illinois utility Commonwealth Edison, but its largest business is operating power plants across the U.S. an selling the electricity on the wholesale market. The recent plunge in U.S. natural gas prices has forced wholesale power prices lower, threatening Exelon's bottom line. President and Chief Executive Christopher Crane said that as expected, the latest results reflected unfavorable market conditions and mild weather. Exelon reported a profit of $200 million, or 28 cents a share, down from $668 million, or $1.01 a share, a year earlier. Excluding mark-to-market adjustments, merger-related costs and other items, earnings fell to 85 cents a share from $1.17 a share. Revenue slipped 5.4% to $4.69 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 81 cents a share on revenue of $7.67 billion. Operating margin narrowed to 7.7% from 24.3%. Total operating expenses jumped 15%. The company said the equivalent availability factor for its hydroelectric facilities fell to 96.6% from 97.8%. Exelon's generation business, which includes its nuclear operations, saw its earnings fall 66% to $168 million. Shares closed at $38.82 Thursday and were inactive premarket. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Exelon (EXC)
DateTimeHeadline
05/21/201514:00:00BGE Awards $35,000 to Schools in Captain MercaptanSM Natural...
05/21/201509:52:00PECO Reminds Customers to Celebrate Graduations Safely by Securing...
05/21/201509:35:00BGE Reminds Customers to Celebrate Graduations Safely by Securing...
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201511:00:00ComEdâs Delivery System Ready for Summer Season
05/18/201516:05:00CORRECTING and REPLACING ComEd and Schneider Electric Partner...
05/18/201512:00:00ComEd and Schneider Electric Partner to Deploy Green Button Connect...
05/18/201509:00:00Formal Expression of Interest in Lightbridge Metallic Fuel Submitted...
05/18/201508:00:00Exelon and Pepco Holdings Accept, Pledge to Fulfill Conditions...
05/15/201522:41:08
05/15/201516:58:26Merger of Pepco and Exelon Approved in Maryland -- 2nd Update
05/15/201515:23:27Merger of Pepco and Exelon Approved in Maryland -- Update
05/15/201514:45:31Pepco, Exelon Win Conditional Merger Approval In Maryland
05/15/201514:45:00Exelon-Pepco Holdings Merger Approved by Maryland Public Service...
05/13/201513:00:00PECO Completes $56 Million in Work to Prepare for Summer 2015
05/13/201513:00:00BGE Prepares for Summer and Provides Customers with Tips to Beat...
05/12/201513:00:00ComEd Customers Can Sign up for Summer Savings
05/11/201513:00:00Constellation Names Boston Charities to Receive Donations as...
05/07/201513:04:00Exelon, BGE and Constellation Join Efforts to Support Baltimore...
05/07/201512:00:00Illinois Utilities Join Forces to Make Customers Aware of Scam...

Exelon and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad