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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
07/31/201511:30:00ComEd to Initiate Energy Savings Day, Customers Can Reap Summer...
07/30/201510:04:00PECO Helps Customers Beat the Heat and Save Energy and Money
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...

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