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
07/29/201509:50:05Exelon Reports Profit Increase on Higher Sales, Hedging Gain
07/29/201509:44:18Exelon Reports Profit Increase on Higher Sales, Hedging Gain
07/29/201508:00:00Exelon Announces Second Quarter 2015 Results
07/28/201512:17:00Exelon Corporation Declares Dividend
07/28/201509:38:00Baltimore Ravens Go Solar with Constellation
07/27/201510:30:00ComEd Opens Satellite Sites to Help Continue Administering Financial...
07/24/201511:06:00Pennsylvania Convention Center Receives $60,000 from PECO for...
07/19/201519:44:11Sales of Bonds With Floating Rates Sink
07/17/201513:23:00PECO Customers Kick 50,000 Appliances to the Curb With PECO Smart...
07/16/201512:43:00ComEd and Openlands Provide Grants to Illinois Communities to...
07/15/201510:11:00New PECO Mobile Website & Outage Map to Provide Customers Anywhere...
07/14/201510:40:00Constellation Awards $22,000 In Grants to 49 Community Champions...
07/13/201520:34:00ComEd Responds to Storm-Related Outages and Asks Customers to...
07/10/201510:20:00ComEd Plans to Launch Satellite Sites to Continue Administrating...
07/09/201515:10:00Exelon Generation Breaks Ground On New 1,000 Megawatt Natural...
07/09/201512:40:00Not Hot Enough Yet? ComEd Customers Can Still Save Energy!
07/06/201510:11:00PECO Honored for Commitment to Safety by Southeastern Electric...
07/06/201510:00:00BGE Receives an Industry Excellence Award from the Southeastern...
07/02/201518:51:00ComEd Sets a Record in First Half of 2015 for Reliability
06/30/201513:00:00ComEd Launches Summer Internship Program Providing Job Training...

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