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Exelon Projects Weak Year EPS View

By Melodie Warner Exelon Corp. (EXC) forecast full-year earnings below Wall Street's expectations as the wholesale power plant operator faces continued challenges amid low U.S. natural gas prices. In presentation slides released ahead of its Thursday analyst meeting, Exelon said it expects 2012 adjusted operating earnings of $2.55 to $2.85 a share, while analysts surveyed by Thomson Reuters most recently estimated per-share earnings at $2.98. Exelon owns Illinois utility Commonwealth Edison, but its largest business is operating power plants across the U.S. and selling the electricity on the wholesale market. Historically low U.S. natural gas prices have forced wholesale power prices lower, while warm winter weather cut energy demand. In March, the largest operator of nuclear plants in the U.S. completed its acquisition of Constellation Energy Group Inc., owner of Baltimore Gas & Electric, Pennsylvania utility PECO as well as a fleet of nuclear power plants and a retail power business. The company's guidance includes earnings from Constellation Energy and BGE. Exelon said it plans to identify additional cost management opportunities within the combined company, use project financing for renewable opportunities and maintain flexibility on the timing of generation growth projects. Last month, Exelon reported its first-quarter earnings dropped 70% amid costs related to the Constellation acquisition, while mild weather, weak demand and low power prices contributed to a 5.4% revenue decline. Shares were trading at $37.42 premarket, down 3 cents. The stock has fallen 14% so far this year. Write to Melodie Warner at melodie.warner@dowjones.com

Stock News for Exelon (EXC)
DateTimeHeadline
08/22/201610:52:00ComEd Sponsors Industry Conference on the “How Tos” of Community Sol...
08/18/201614:38:00PECO's Intern Program Helping to Prepare Workforce of the Future
08/17/201612:00:00It IS Easy Being Green: 20 Local Municipalities and Nonprofits...
08/11/201610:00:00Be Safe, Be Smart and Know What’s Below - BGE Reminds You to C...
08/11/201610:00:00Be Safe, Be Smart and Know What’s Below – PECO Reminds You to...
08/10/201608:00:00Exelon Analyst Day Outlines Long-Term Strategy to Grow the Utility...
08/09/201611:50:00Exelon to Buy New York Nuclear Plant From Entergy
08/09/201611:40:00Exelon to Buy New York Nuclear Plant From Entergy
08/09/201609:20:00Exelon to Assume Ownership and Operation of Entergy’s James A...
08/09/201608:00:00Exelon Announces Second Quarter 2016 Results
08/08/201611:45:00Constellation Congratulates Sponsored Golfer Jim Furyk on Historic...
08/05/201612:37:00ComEd and the Metropolitan Mayors Caucus Partner to Advance Public...
08/03/201611:13:00Maggie FitzPatrick Joins Exelon as Senior Vice President, Corporate...
08/03/201609:00:00Constellation Offers Competitive Electricity Supply to Delaware...
08/02/201615:03:00ComEd’s One-of-a-Kind Program for Individuals with Developmental D...
08/01/201614:34:00Exelon Recognizes Passage of New York Clean Energy Standard...
07/27/201608:30:00Constellation Acquiring Retail Electricity and Natural Gas Business...
07/26/201610:16:00Exelon Corporation Declares Dividend
07/25/201615:07:00PECO Helps Customers Beat the Heat and Save Energy and Money
07/25/201611:30:00Exelon Powers Democratic National Convention as Official Zero-Carbon...

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